Motilal Oswal
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Motilal Oswal
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Wall Street ekes out gains, Apple cuts revenue forecast after the bell

Updated : January 03, 2019 09:09 AM IST

After struggling for direction for much of the session, all three major US stock indexes closed in positive territory. Whether those gains would hold in the days ahead, however, was cast into doubt after Apple Inc slashed its outlook after the market closed, citing weak sales in China.
Apple's stock dropped 8 percent in extended trading after the news, while shares of its suppliers also weakened and S&P 500 e-mini futures slid around 0.5 percent, signalling that Wednesday's modest advance was likely to be unwound when the market reopens on Thursday.
Stocks had started Wednesday's session lower after separate reports showed a deceleration in factory activity in China and the euro zone, indicating that the ongoing trade dispute between the United States and China was taking a toll on global manufacturing.
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