- Apple extends rally for the second day to lead the tech gains.
- Industrial shares post modest gains after today’s PPI data.
Major equity indexes in the US opened slightly higher on Wednesday led by gains in technology shares. As of writing, the Dow Jones Industrial Average was up 0.2% on the day while the S&P 500 and the tech-sensitive Nasdaq Composite were adding 0.15% and 0.4%.
After closing the day with a gain of more than 1% boosted by the hype surrounding its new products yesterday, Apple shares continue to push higher today. Among the 11-major S&P 500 sectors, the Technology and the Communication Services indexes both around 0.5% in the early trade.
Today’s only data from the US today revealed that the core Producer Price Index (PPI) rose 2.3% on a yearly basis in August following July’s reading of 2.1% but was largely ignored by market participants. At the moment, the S&P 500 Industrials Index is up 0.3% on a daily basis.