Finance Latest News: Markets Slip Despite Positive Data

Wochit 1:03 mins

Wall Street was slipping as surprisingly strong economic figures out of Europe and upbeat earnings from Apple could not outweigh earlier concerns over China. In early trading, the Standard & Poor?s 500-share index was 0.2 percent lower and the Dow Jones industrial average fell 0.2 percent, while the Nasdaq composite was 0.1 percent nigher. Apple shares opened about 5 percent higher after the technology company's third-quarter profit beat analysts' expectations due to stellar sales of its iPhones. Apple Inc is not expected to show a big post-earnings swing when it reports fiscal third-quarter results after the closing bell on Tuesday, but this could also mean investors are under-hedged in case the company delivers a shock. The options market is pricing in a potential move up or down of 4 to near 5 percent in Apple's stock price following the results.

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