Dow edges higher as strong Apple results offsets virus fears

NEW YORK - Strong profits from Apple and others helped the Dow edge higher on Wednesday as more large companies moved to contain a virus centred in China, but the broader market was more mixed.

But Apple chief executive officer Tim Cook struck a sombre tone over the spread of the deadly virus in China, a key market for and supplier to the company, while Starbucks, McDonald's and American Airlines were among the large companies curtailing China activities.The broad-based S&P 500 dipped 0.1 per cent to 3,273.40, while the tech-rich Nasdaq Composite Index advanced 0.1 per cent to 9.275.16.

Among other companies reporting results, Boeing gained 1.7 per cent after announcing its first annual loss in more than two decades as a result of the protracted 737 Max grounding. General Electric surged 10.3 per cent as it reported better-than-expected fourth-quarter profits that included signs of stabilisation in its slumping power business.

Source: News Formal (newsformal.com)

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