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Stocks - Wall Street Higher; Apple Continues to Rise

Investing.com

Investing.com – Wall Street ticked higher on Wednesday, as Apple (NASDAQ:AAPL) led a gain in technology stocks, rising after a positive response from Wall Street analysts to its new iPhones, revealed on Tuesday.

The Dow rose 50 points or 0.2% by 9:56 AM ET (13:56 GMT), while the S&P 500 gained 4 points or 0.2% and the Nasdaq composite was up 30 points or 0.4%.

Apple (NASDAQ:AAPL) was up 1.3% after climbing more than 1% on Tuesday. The company launched three new iPhones, along with a $5 a month TV streaming service. Netflix (NASDAQ:NFLX) was down 0.5% while Walt Disney (NYSE:DIS) was flat as Apple confirmed it would undercut their streaming services as it tries to wrest to market share off them.

Semiconductor company Micron (NASDAQ:MU) gained 3.6% on an analyst upgrade, while Tesla (NASDAQ:TSLA) rose 1.5% and AT&T jumped 1.2% as it continued to be supported by news of activist investor Elliott Management taking a stake in the company.

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Elsewhere, GameStop (NYSE:GME) slumped 15.2% after its second-quarter sales fell short of expectations and the company lowered its comparable sales forecasts. The stock had hit an all-time low of $3.15 only last month but had rebounded to $5.09 as of Tuesday's close.

Cannabis group Tilray (NASDAQ:TLRY) slipped 2.3% after it filed an offering of up to $400 million common stock.

In commodities, crude oil rose 0.5% to $57.70 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.4% to 98.662 and gold futures slipped 0.1% to $1,498.40 a troy ounce.

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