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Apple, biotech lift stocks higher

Thursday, September 10, 2015 - 01:07

Stocks managed to post gains on Thursday, despite nervousness ahead of the much-anticipated Federal Reserve meeting next week. Bobbi Rebell reports.

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Investors as fickle as ever. Stocks opening lower but gaining ground as the day wore on, led by healthcare and tech stocks like Apple. The iPhone maker pulled the Dow higher. It bounced back from Wednesday's loss when it unveiled a big iPad, new iPhones, and a new Apple TV. Wal-Mart was the laggard on the blue chip index. Its Sam's Club warehouse stores will begin accepting American Express credit cards next month. Investors sold off Lululemon's shares. The yogawear retailer's quarterly profit margins shrank, and its earnings forecast for the current quarter disappointed Wall Street. Krispy Kreme not looking so sweet after it cut its full year profit forecast, blaming weak sales. Shares of the doughnut chain plummeted. More signs of momentum in the labor market: weekly jobless claims dropped. In other economic news, import prices slipped in August, and inventories fell in July. In Europe, stocks exposed to Brazil fell after the country's credit rating was downgraded to "junk" status. Basic materials and utilities led shares lower.

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Apple, biotech lift stocks higher

Thursday, September 10, 2015 - 01:07