Apple, energy shares shine as Wall Street rallies ~ Market Updates Tips Tricks Recommendations

Monday 16 May 2016

Apple, energy shares shine as Wall Street rallies

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Wall Street rallied sharply on Monday, juiced by a jump in Apple shares and gains from energy stocks that were backed by stronger oil prices.

Apple shares finished up 3.7 percent after Warren Buffett’s Berkshire Hathaway reported a stake worth about $1 billion in the iPhone maker. The stock, which had lost about one-fifth of its value in the past month, gave the biggest boost to the three indexes.

The Dow Jones industrial average rose 175.39 points, or 1 percent, to 17,710.71, the S&P 500 gained 20.05 points, or 0.98 percent, to 2,066.66 and the Nasdaq Composite added 57.78 points, or 1.22 percent, to 4,775.46.

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