While some investors have been waiting for Apple's market capitalization to reach $1 trillion, those looking for big round numbers might be better off looking to the S&P 500 technology index as a whole, which is approaching the $5 trillion mark.
In view of realized and expected labor market conditions and inflation, the FOMC decided to maintain the target range for the federal funds rate at 3/4 to 1%. The stance of monetary policy remains accommodative, thereby supporting some further strengthening in labor market conditions and a sustained return to 2% inflation.
Bloomberg reported that JPMorgan Chase & Co. plans to move hundreds of London-based bankers to expanded offices in Dublin, Frankfurt and Luxembourg to preserve easy access to the European Union’s single market after Brexit, according to the firm’s head of investment banking Daniel Pinto.
U.S. companies hired the fewest workers in six months in April as they faced increasing difficulty finding qualified workers in a tightening labor market, a report by a payrolls processor ADP showed on Wednesday.
Falls in iPhone and U.S. car sales helped beat European stock markets back from 20-month highs on Wednesday while the dollar inched up as investors priced in a greater chance of further tightening of U.S. monetary policy next month.
Apple Inc. reported a surprise fall in iPhone sales for its second quarter on Tuesday, indicating that customers may have held back purchases in anticipation of the 10th-anniversary edition of the company's most important product later this year.