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Tech Stocks Lead US Stocks Broadly Higher

Dow slips, but Nasdaq and S&P 500 end the day higher
By Newser Editors and Wire Services
Posted Aug 2, 2018 3:18 PM CDT
Trader Gregory Rowe works on the floor of the New York Stock Exchange, Thursday, Aug. 2, 2018.   (AP Photo/Richard Drew)

(Newser) – US stocks shook off an early stumble and closed broadly higher, led by gains in technology companies as Apple reached $1 trillion in value, the AP reports. Apple jumped 2.9% Thursday, adding to another big gain from a day earlier. On Tuesday the company reported strong earnings and higher prices for iPhones. Tesla soared 16% after the company said it was continuing to improve production of its Model 3 and wouldn't have to raise more money. Industrial stocks fell after the White House said it will consider higher tariffs on Chinese imports. Boeing lost 0.9%. The S&P 500 index rose 13 points, or 0.5%, to 2,827. The Dow Jones Industrial Average slipped 7 points to 25,326. The Nasdaq rose 95 points, or 1.2%, to 7,802. (Read more stock market stories.)

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