Seems like the upcoming iPhone has gathered up the most anticipation yet
San Francisco, CA -- (SBWIRE) -- 09/07/2012 -- The Standard & Poor’s 500 index fell 1.64 points to 1,404.94 while the Nasdaq index gained 8.10 points at 3,075.06. The rise was mainly due to Apple which has the biggest stock in the index. Apple rose to $9.73 to $674.97 after news reporters were invited to a news event for September 12th the date speculated for the announcement of the new iPhone.
“It’s time to go back to school and sharpen up on stocks and pay attention to the numbers,” said Kim Forrest, equity San Francisco, CA – News from the Apple Company is that the iPhone 5 launch is to be expected in the near future that has had an effect on the stock market which saw Nasdaq raised by eight points.
The upcoming iPhone 5 is one of the most talked about and hyped products of the summer and the year as well for that matter and it has certainly had an effect on the market’s outlook. The speculation is that the new iPhone will come out as soon as September 12th 2012.
The Dow Jones industrial average closed down 54, 90 points at 13,035.94 on Tuesday. Caterpillar was down and was the weakest stock in the Dow average slipping 3 percent which amounted to $2.67 to $82.66.
Some other companies making big moves are Netflix which plunged $3.79 to $55.93 a loss of six percent. analyst at financial advisory firm Fort Pitt Capital Group. “The numbers show that there’s a lot of weakness out there and investors have gotten lulled into complacency in the last month or so.”
Americans are continuing to buy cars because of the model-year closeout and low interest financing. GM’s August U.S sales have grown to 10 percent in contrast to their last year’s sales while Ford continues to show improvement with 13 percent and Chrysler’s at 14 percent.
Oil prices have slipped because of worries that the demand will fall. The U.S benchmark crude fell $1.17 to $95.30 in New York.
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