Apple's troubles forgotten as U.S. economy bounces back
- US Market
- 2 weeks ago
The Fed’s chair, Jerome Powell made it clear that they won’t be too hasty in raising rates going ahead in 2019 and these comments made the U.S. indices rally leaving behind Apple’s shadow of losses triggered after announcing their cuts on revenue forecasts.
Even President Trump seems not to hold much thought on Apple’s decline, although suggested that the giant tech company should make its products in the U.S.
Trump said, "I told Tim Cook, who's a friend of mine, who I like a lot, make your product in the United States.”
"China is the biggest beneficiary of Apple, more than us. Because they build their product mostly in China."
Countering Apple’s decline was also the encouraging numbers of employment created in the U.S. as it added 312,000 new jobs in December, completely obliterating the estimated figure of 176,000.
Hence there was no holding the markets back as they surged from Thursday’s decline, the DJIA rose by 3.3%, the S&P 500 by 3.4% and the Nasdaq climbed by 4.26%.
Source: Smart Trend Team