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Apple Numbers Lift Markets

Earnings punch through the crunch

By Sam Gale Rosen, Newser Staff

Posted Oct 23, 2007 3:38 PM CDT

(Newser) – Stocks closed up today, thanks partially to good news from Apple, which reported a 67% increase in quarterly profit after yesterday's close. Tech in general continued to bolster the markets despite broader economic worries. The Dow rose 109.26 to 13,676.23, the Nasdaq was up 45.33 to 2,799.26, and the S&P 500 climbed 13.26 to 1,519.59.

"Apple in particular, and really all of tech, has been fairly strong," one trader told the Journal. American Express and the New York Times Co. contributed to the rally with extremely strong earnings numbers. "If companies are still beating expectations, that's a good backdrop for stocks," an investment manager told Bloomberg.

An American Express card welcome sign is seen above all others at McGerks Pub & Grill in Baltimore in this Jan. 22, 2007 file photo. (AP Photo/Chris Gardner, file) (Associated Press)

Traffic passes the Nasdaq stock market in this June 19, 2007 file photo in New York. (AP Photo/Mark Lennihan, file) (Associated Press)

Quarterly profits at Apple are up 67%. (AP Photo/Paul Sakuma) (Associated Press)

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More Newser Stories

You Should Buy Apple Stock

Farhad Manjoo thinks Apple still has nowhere to go but up

Apple Nails Spot as World's Most Valuable Firm

Overtaking Exxon caps amazing turnaround

Apple Becomes Most Valuable Company in World, Briefly

It overtakes Exxon for No. 1 spot before falling back again

Apple's Worth More Than Microsoft—to Gamblers

It's got a lot of growing to do

Dow Climbs 96 to New 2009 High

Expectations for Caterpillar, AmEx earnings boost Dow

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OTHER STORIES ON OUR RADAR

stock market • Apple • American Express • New York Times Company

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

You Should Buy Apple Stock

Farhad Manjoo thinks Apple still has nowhere to go but up

Apple Nails Spot as World's Most Valuable Firm

Overtaking Exxon caps amazing turnaround

Apple Becomes Most Valuable Company in World, Briefly

It overtakes Exxon for No. 1 spot before falling back again

Apple's Worth More Than Microsoft—to Gamblers

It's got a lot of growing to do

Dow Climbs 96 to New 2009 High

Expectations for Caterpillar, AmEx earnings boost Dow

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Newser By Users

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What is Newser?