U.S. Stocks Rally Extending Gains, Apple Closes at Record $100

TheStreet

U.S. stocks advanced leading the S&P 500 near its all-time high. The Nasdaq extended gains for the fifth straight day hitting another 14-year high. Investors rallied on better-than-expected earnings, upbeat housing data along with tame inflation numbers. Apple (AAPL) hit $100 a share for the first time since its seven-for-one split in June. Aeropostale (ARO) closed better than 19 percent higher. The teen retailer rehired former CEO Julian Geiger replacing Thomas Johnson. The Fed will release the minutes of its last gathering Wednesday before central bankers meet in Jackson Hole, Wyoming on monetary policy. Still set to report earnings Wednesday includes Hewlett-Packard (HPQ), Lowe's (LOW) and Target (TGT).