Thu, Jul 25, 2013 4:16 PM EDT 1:02
U.S. stocks mostly slipped on Thursday, with cyclical sectors falling on some disappointing earnings and concerns about China's growth, though Facebook's rally gave the Nasdaq a lift. This year on Wall Street, the bears have been cowed by the bulls. The relentless rally that has carried stock indexes to new highs while defying all the perfectly plausible reasons for it to falter has predictably gored short sellers ? who, as usual, have been massed against a relatively narrow group of expensive or fundamentally suspect stocks. Apple is leading an early advance in technology stocks on Wall Street after beating analysts' estimates for earnings and revenue. Apple jumped 5 percent to $438 in the first few minutes of trading. Apple shipped more iPhones in the latest quarter and said it was planning to introduce new products in the fall.