Wall Street slips as Apple shares soar

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Stocks on Wall Street added to their first weekly loss in seven weeks despite a legal victory that  sent Apple to an all-time high.

The Dow Jones Industrial Average fell 33.30 points, or 0.25%, to 13,124.67 at the close (8am NZ time). The index slumped 0.5% last week, its first weekly loss since early June.

The S&P 500 index fell just 0.7 point to 1410.44.

Technology and utilities shares rose while the materials and telecommunications sectors lagged behind.

The Nasdaq Composite Index added 0.1% to 3073.19..

Apple climbed after winning a patent battle with South Korean rival Samsung Electronics in which Samsung was ordered to pay Apple $US1.05 billion.

Other markets: Europe up
European stock markets ended higher, led by gains for banks and technology-related companies. The Stoxx Europe 600 index rose 0.5% to finish at 269.20. The index posted a 1.8% weekly loss last week, ending a streak of 11 consecutive gains.

The August Ifo business climate index in Germany fell for the fourth month to 102.3 from 103.3 in July. Economists had forecast a reading of 102.7.

The German DAX 30 index led most regional stock indexes, rising 1.1% to 7047.45,  The French CAC 40 index rose 0.9% to 3462.83.

London markets were closed for the Summer Bank Holiday.

Asian markets ended mostly lower as gloom from China's economy deepened with a fresh set of poor economic data.

Profits at China's major industrial enterprises dropped 5.4% in July from a year earlier, while HSBC downgraded its 2012 forecast for Chinese growth to 8% from 8.4%.

The Shanghai Composite Index fell 1.7% to 2055.71, its lowest closing level since February 2009.

In Hong Kong, the Hang Seng Index fell 0.4% to 19,798.67.

The S&P/ASX 200 fell into negative territory as the downbeat sentiment relating to China spread to Australia. It ended 0.1% lower at 4343.70.

Korea's Kospi was 0.1% lower at 1917.87, weighed down by Samsung’s 7.5% plunge after  losing the Apple case.

Commodities: Oil down, gold up
Crude-oil prices fell, as refineries along the Gulf of Mexico coast began to shut down operations ahead of Tropical Storm Isaac.

Light, sweet crude for October delivery fell 68USc, or 0.7%, to settle at $US95.47 a barrel in New York.

Gold prices rose on low trading volumes with London closed.

The most actively traded contract, for December delivery, rose $US2.60, or 0.2%, to settle at $US1675.60 an ounce in New York.

Currencies: US dollar rises against euro
The US dollar slipped against the euro, with traders taking a cautious approach.

The euro was at $US1.2516 compared with $US1.2512 late on Friday. The dollar was at ¥78.68 compared with ¥78.65, while the euro was at ¥98.482 from ¥98.45.

The pound bought $US1.5798 compared with $US1.5810, while the dollar changed hands at 0.9595 Swiss franc from 0.9597 franc.

This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot


Sym Price Change
USD 0.7567 0.0000 0.00%
AUD 0.9753 0.0000 0.00%
EUR 0.6945 0.0000 0.00%
GBP 0.5084 0.0000 0.00%
HKD 5.8650 0.0000 0.00%
JPY 90.0730 0.0000 0.00%


Commodity Price Change Time
Gold Index 1198.2 -4.740 2015-03-27T00:
Oil Brent 56.4 0.950 2015-03-27T00:
Oil Nymex 48.9 -2.560 2015-03-27T00:
Silver Index 17.1 -0.090 2015-03-27T00:


Symbol Open High Last %
NZX 50 5833.2 5854.2 5833.2 0.36%
NASDAQ 4863.7 4899.3 4863.4 0.57%
DAX 11920.2 11954.1 11843.7 0.21%
DJI 17673.6 17729.1 17678.2 0.19%
FTSE 6895.3 6910.6 6895.3 -0.58%
HKSE 24541.4 24549.9 24497.1 -0.04%
NI225 19374.7 19590.0 19471.1 -0.95%