Global market: US stocks edge higher ahead of US inflation data next week. Apple shares gain
Global market update: US stock market edged higher on Friday on resilience in the national economy even though investors await the key US inflation data expected next week. Dow Jones index added 0.22 per cent whereas tech heavy weight Nasdaq added 0.09 per cent. S&P 500 index gained 0.14 per cent.
However, Small-cap 2000 index lost 0.23 per cent. Wall Street majors Apple share price added 0.35 per cent, snapping its two days losing streak. Apple share price opened at $178.35 apiece and went on to hit intraday high of $180.24 per share.
However, the tech major ended at $178.18 levels on Friday, 0.35 per cent higher from its Thursday close of $177.56 per share. Apple had fallen in the last two sessions on news reports of China curbing iPhone use by state employees. Speaking on global market, especially on the US stock market, Quincy Krosby, chief global strategist at LPL Financial in Charlotte, North Carolina said, "The dollar has been higher on the back of obviously stronger U.S.
data ..., suggesting that the Fed perhaps has another rate hike before the end of the year." The US dollar index registered an eighth straight week of gains on Friday while global stock indexes ended slightly higher on the day ahead of key US inflation data next week. The dollar index's weekly winning streak was its longest since 2014, bolstered by recent data suggesting the US economy is still resilient. For the day, the index was nearly flat at 105.08.
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