The Monday markets got a big boost from Apple as the computer giant rebounded sharply today adding nearly 4%-it’s best day since March. The Dow finished up triple digits while the NASDAQ added 57. Apple’s gain was part of an overall improvement in tech stocks. Energy issues also saw improvement as the price of oil hit new highs for 2016. Oil settled up $1.51 at $47.72 a barrel, its highest level since November, 2015.
JJ Kinahan, chief strategist at TD Ameritrade said:
“I think Apple and oil are really overshadowing everything else.”
The question facing many investors: “Is it time to short stocks?” See more below.
Here are the final numbers from Monday, May 16th on Wall Street:
Dow Jones Industrial Average: 17,710.71 (+175.39 / +1.00 %)
NASDAQ: 4,775.46 (+57.78/ +1.22 %)
S&P 500: 2,066.66 (+20.05/ +0.98%)