Wednesday afternoon at the stock exchange saw most US stocks in the red. However, tech stocks, led by Apple, rallied to limit the losses.
Apple shares rose 5%, which seemed to be all the tech stocks needed to finish "just above the flat line" at the Nasdaq Wednesday. The widely held shares of the company often made a significant impact on the tech sector and the broader market, in general. In addition, an increase of 7% in the shares of Electronic Arts also made a contribution to limiting tech stock losses.
Recently, stocks were moving higher. This was the result of investors being comfortable with improved earnings. Corporate earnings, in general, exceeded expectations. Sixty-five percent of S&P 500 companies reported earnings that went well above the low expectations of analysts. According to S&P Capital IQ, more than one third of S&P 500 companies already reported their second-quarter earnings.
Another gainer in the stock market recently was Facebook. Strong mobile ad revenue created an increase in its shares in after-hours trading.
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