The Dow Jones Industrial Average got a boost in the second half of Tuesday’s trading session, jumping by over 100 points with Apple stock (NASDAQ: AAPL) leading the way, which climbed over 2 percent.
Three ETFs with the heaviest Apple exposure benefited from the rise– iShares US Technology ETF (NYSEArca: IYW) was up 1.03%, Vanguard Information Technology ETF (NYSEArca: VGT) was up 1.12% and Technology Select Sector SPDR ETF (NYSEArca: XLK) was up 0.98%.
The rise came in the middle of a lackluster Tuesday trading session as the Dow opened just slightly higher despite more trade concerns lingering from the previous sessions and the latest threat by American motorcycle manufacturer Harley-Davidson to move its production facilities overseas.
S&P 500, Nasdaq Both Up
Other indices were up as the S&P 500 gained 0.5 percent and the Nasdaq composite was ahead by 0.8 percent–both recovering from losses in yesterday’s trading session that saw the Dow fall by over 400 points.
“There’s a lot of uncertainty out there,” said Maris Ogg, president at Tower Bridge Advisors. “What this trade stuff is doing is making companies put their money back in their pockets. Nobody wants to take a chance and invest in capex. They (the Trump administration) are looking at some of the past measures and saying they don’t work anymore. I don’t know if Trump has the capability to sort this out. … Fortunately for us, the market is not richly valued at this moment.”
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