Apple Deal with China Leads to Wall Street Surge
Company made distribution deal with China Mobile
U.S. stocks jumped on Monday, with the Dow and S&P 500 advancing to all-time highs as Apple Inc surged on a distribution deal with China Mobile and lifted the technology sector.
Volume is expected to be thin this week, with many market participants out for the Christmas holiday. Equity markets will close early on Tuesday and will be closed all of Wednesday. The light volume could amplify market volatility.
Tech titan Apple said on Sunday it had signed a long-awaited agreement with China Mobile Ltd to sell iPhones through the world's biggest network of mobile phone users, a deal that could add billions of dollars to its revenue.