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Dow Jones jumps nearly 200 points as Apple and tech sector hit new records - YouTube
Channel: Social Hot News
[10]
Dow Jones jumps nearly 200 points as Apple
and tech sector hit new records
[14]
U.S. stocks rose on Monday, adding to gains
seen in the previous session, as Apple led
[21]
the technology sector to a record high.
[24]
The Dow Jones industrial average rose 187
points with Apple rising 1 percent.
[30]
The tech giant's stock also hit an all-time
high.
[34]
The S&P 500 climbed 0.4 percent, with tech
rising 0.4 percent.
[41]
"If you look at the month of May, Apple — all
by itself — contributed 23 percent of the
[48]
S&P 500's gains," said Jeff Kilburg, CEO of
KKM Financial on CNBC's "Worldwide Exchange."
[57]
"When you see Apple at all-time highs, that
is the sentiment, that is the true revelation
[63]
that we are OK in the U.S. economy."
[66]
Meanwhile, the Nasdaq composite rose 0.2 percent
and traded less than 1 percent from its intraday
[73]
record as Amazon also hit an all-time high.
[77]
Amazon rose 0.7 percent after a SunTrust analyst
said the company's private label business
[83]
could help the stock rally 20 percent.
[86]
Microsoft also helped lift the Nasdaq, rising
0.7 percent after announcing it was acquiring
[93]
GitHub, a software developer platform, for
$7.5 billion.
[99]
Monday's gains come after the major indexes
rallied on Friday on better-than-expected
[104]
economic news.
[106]
The Dow gained 219 points after the Labor
Department said Friday that the U.S. economy
[112]
added 223,000 jobs last month, a figure that
topped expectations.
[118]
"The market seems to be focused on the economy
and not so much on the potential consequences
[124]
from trade tensions," said Peter Cardillo,
chief market economist at Spartan Capital
[130]
Securities.
[131]
"Tensions are high.
[133]
The question is whether Trump will smooth
things out or make them worse [at the G7 summit].
[139]
We'll have to wait and see."
[141]
Leaders from seven of the largest economies
in the world are set to meet in Canada this
[146]
week at a time when trade tensions between
the U.S. and key trade partners have increased.
[152]
Last week, the Trump administration slapped
tariffs on steel and aluminum imports from
[157]
the European Union and Canada.
[160]
The EU threatened the same, saying it would
impose countermeasures of its own, while Canada
[165]
Foreign Minister Chrystia Freeland said the
country plans to slap dollar-for-dollar tariffs
[170]
on the U.S.
[171]
"Multilateral tariffs are certainly a warning
sign that this is no longer merely a case
[176]
of US protectionism and that the world is
edging towards a trade war," said Oliver Brennan,
[183]
senior macro strategist at TS Lombard, in
a note.
[187]
"In such a circumstance, global trade growth
could fall by 10pp and global GDP by over
[196]
1.5pp (according to IMF estimates, after five
years).
[199]
"The impact of tariffs has been mostly restricted
to those sectors that are directly affected.
[205]
Retaliation is likely to widen the impact
and increase political risk, but for now the
[211]
US economy continues to motor on," Brennan
said.
[215]
Dow jumps nearly 200 points as Apple and tech
sector hit new records
[220]
U.S. stocks rose on Monday, adding to gains
seen in the previous session, as Apple led
[226]
the technology sector to a record high.
[229]
The Dow Jones industrial average rose 187
points with Apple rising 1 percent.
[235]
The tech giant's stock also hit an all-time
high.
[239]
The S&P 500 climbed 0.4 percent, with tech
rising 0.4 percent.
[247]
"If you look at the month of May, Apple — all
by itself — contributed 23 percent of the
[254]
S&P 500's gains," said Jeff Kilburg, CEO of
KKM Financial on CNBC's "Worldwide Exchange."
[262]
"When you see Apple at all-time highs, that
is the sentiment, that is the true revelation
[268]
that we are OK in the U.S. economy."
[271]
Meanwhile, the Nasdaq composite rose 0.2 percent
and traded less than 1 percent from its intraday
[278]
record as Amazon also hit an all-time high.
[282]
Amazon rose 0.7 percent after a SunTrust analyst
said the company's private label business
[288]
could help the stock rally 20 percent.
[292]
Microsoft also helped lift the Nasdaq, rising
0.7 percent after announcing it was acquiring
[298]
GitHub, a software developer platform, for
$7.5 billion.
[304]
Monday's gains come after the major indexes
rallied on Friday on better-than-expected
[309]
economic news.
[311]
The Dow gained 219 points after the Labor
Department said Friday that the U.S. economy
[317]
added 223,000 jobs last month, a figure that
topped expectations.
[323]
"The market seems to be focused on the economy
and not so much on the potential consequences
[330]
from trade tensions," said Peter Cardillo,
chief market economist at Spartan Capital
[335]
Securities.
[336]
"Tensions are high.
[338]
The question is whether Trump will smooth
things out or make them worse [at the G7 summit].
[344]
We'll have to wait and see."
[346]
Leaders from seven of the largest economies
in the world are set to meet in Canada this
[351]
week at a time when trade tensions between
the U.S. and key trade partners have increased.
[357]
Last week, the Trump administration slapped
tariffs on steel and aluminum imports from
[362]
the European Union and Canada.
[365]
The EU threatened the same, saying it would
impose countermeasures of its own, while Canada
[370]
Foreign Minister Chrystia Freeland said the
country plans to slap dollar-for-dollar tariffs
[375]
on the "Multilateral tariffs are certainly
a warning sign that this is no longer merely
[385]
a case of US protectionism and that the world
is edging towards a trade war," said Oliver
[390]
Brennan, senior macro strategist at TS Lombard,
in a note.
[395]
"In such a circumstance, global trade growth
could fall by 10pp and global GDP by over
[402]
1.5pp (according to IMF estimates, after five
years).
[407]
"The impact of tariffs has been mostly restricted
to those sectors that are directly affected.
[413]
Retaliation is likely to widen the impact
and increase political risk, but for now the
[419]
US economy continues to motor on," Brennan
said.
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