Major US stock indices closed in positive territory

Major US stocks rose moderately as Apple's AAPL boost pushed the tech sector higher while the broader market rebounded after falling last week after the White House denied reports that it was considering limiting US investment in China.

Apple Inc stocks jumped 2.34% after Tim Cook, CEO of German company Bild, announced a solid start to iPhone sales, and JP Morgan analysts improved their forecasts for iPhone sales, which allowed them to increase the target price of AAPL shares to $ 265 / share.

Market participants also continued to closely monitor developments around US-China trade relations ahead of the October meeting of US and PRC trade representatives. Monica Crowley, a spokeswoman for the US Treasury Department, said over the weekend that the Trump administration “is not considering banning Chinese companies from listing on the US stock exchanges at this time.” A statement was made after Bloomberg reported Friday that this is one of the options the White House is considering limiting US investment flows to China. In addition, Peter Navarro, director of the White House’s Trade and Production Policy Directorate, told CNBC today that Bloomberg’s message is “fake news”.

Most of the DOW components completed trading in positive territory (22 of 30). The biggest gainers were Apple Inc. (AAPL; + 2.34%). Outsiders were shares of Exxon Mobil Corporation (XOM; -1.05%).

Almost all S&P sectors recorded an increase. The consumer goods sector grew the most (+ 0.8%). Only the basic materials sector decreased (-0.1%).

At the time of closing:

Dow 26,916.76 +96.51 +0.36%

S&P 500 2,976.73 +14.94 +0.50%

Nasdaq 100 7,999.34 +59.71 +0.75%