S&P 500, Nasdaq extend record streaks, with boost from chip, growth shares
- The S&P 500 and Nasdaq rose on Thursday, extending their streaks of record high closes to six sessions, as chipmaker stocks surged following Qualcomm’s strong financial forecast and investors digested the Federal Reserve’s decision to start reducing its monthly bond purchases.The Dow Jones Industrial Average posted a slim loss, ending its streak of record closes at four. Declines in shares of banks JPMorgan Chase & Co and Goldman Sachs Group weighed on the blue-chip index.Financials dropped 1
Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30%