Wall Street ends at record high, led by banks; Apple weighs

Wall Street ends at record high, led by banks; Apple weighs

Wall Street ends at record high, led by banks; Apple weighs

The Dow Jones Industrial Average added 61 points, or 0.28%, to 22,119, the S&P 500 gained eight points, or 0.34%, to 2,497 and the Nasdaq Composite added 22 points, or 0.34%, to 6,454.

In corporate news, Apple was softer in pre-market trade after the unveiling of the tech giant's latest phone, the iPhone X on Tuesday prompted a mixed reaction and the company said it won't be delivered until November.

The S&P 500 and Nasdaq both finished at record highs Tuesday, boosted by financial shares that led a rally on easing fears over North Korea and United States hurricanes.

Wall Street was in the green on Tuesday with bank stocks rising. "The longer this period of calm continues, the more relaxed investors will become which will be better for riskier assets, while safe havens will continue to experience unwinding".

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Concerns around Hurricane Irma's impact receded as it weakened to a tropical depression, while investors shrugged off fresh developments related to North Korea.

Apple saw some of the steepest losses in opening trade.

The S&P 500 is up 249.28 points, or 11.1 percent.

Financials rose more than 1 percent, with numerous biggest banks gaining between 1 percent and more than 3 percent.

This is what Florida looks like as Irma hits
Drinking water supplies in the Keys were cut off, fuel was running low and all three hospitals in the island chain were shuttered. When water raced through the streets of Jacksonville, it brought record levels of storm surge along the coast and inland rivers.

Shares of Teva Pharmaceuticals Industries Ltd. rose almost 7% after the Israel-based pharmaceutical group said late Monday it will sell its Pargard IUD product to Cooper Cos. for $1.1 billion in cash. Investors in banks, whose profits are boosted in part by higher rates, were reacting to a jump in U.S. Treasury 10-year yields to a three-week high after a 10-year note auction.

Shares in real estate and utility firms lagged.

Advancing issues outnumbered declining ones on the NYSE by a 1.76-to-1 ratio; on Nasdaq, a 1.60-to-1 ratio favored advancers.

Wilmington PLC (WIL) PT Lowered to GBX 300
Finally, N+1 Singer reissued a buy rating on shares of Halfords Group plc in a research report on Thursday, May 25th. The American Capital Management Inc holds 688,595 shares with $24.27 million value, down from 742,365 last quarter.

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