Apple Shares Slide Nearly 10 Percent Over Week
But are on the rebound now
U.S. stocks rose for a second day as Apple (AAPL) Inc. rebounded from its biggest drop in four years and investors weighed prospects for a budget deal in Washington.
Apple jumped 1.7 percent, reversing an earlier loss. Akamai (AKAM) Technologies Inc. increased 11 percent after agreeing to sell services with AT&T Inc. H&R Block Inc. (HRB), the biggest U.S. tax preparer, advanced 3.5 percent after reporting a loss that was smaller than analysts estimated. Freeport-McMoRan Copper & Gold Inc. (FCX), the world's largest publicly traded copper producer, and MetLife Inc. (MET), the biggest U.S. life insurer, declined at least 1.4 percent following analysts' rating cuts.
The Standard & Poor's 500 Index added 0.3 percent to 1,412.99 at 11:54 a.m. New York time, after dropping as much as 0.2 percent earlier. The Dow Jones Industrial Average rose 15.81 points, or 0.1 percent, to 13,050.3. Trading in S&P 500 companies was in line with the 30-day average at this time of day, according to data compiled by Bloomberg.