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.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more