Stocks – Dow Rebounds as Rampant Tech Lifts Sentiment

December 10, 2018

Investing.com – The Dow clawed back losses to close higher Monday as Apple rebounded to lead tech higher.

The Dow Jones Industrial Average rose 0.14% to 24,423, from a session low of 23,881. The S&P 500 added 0.18%, while the Nasdaq Composite climbed 0.74%.

Apple (NASDAQ:AAPL) swung from session lows after it filed an appeal to overturn a decision banning the sale of its iPhones in China.

A Chinese court had granted Qualcomm (NASDAQ:QCOM) an injunction against Apple banning the iPhone maker from selling most of its iPhones in China. The ban, which is not expected apply to Apple’s latest slate of iPhones appeared to provide some respite for investors.

“A ban on importing old 6S does little to limit the domestic circulation of refurbished iPhones (in China),” Lynx Equity Strategies said in a note. “The bulk of Apple sales in China are typically the new models.”