U.S. Investment Immigration focus on U.S. Economy: The three major New York stock market indices showed mixed results on the 11th.
Xinhua News Agency, New York, September 11 report: Due to mixed signals from the macroeconomic environment and corporate news, the three major New York stock market indices closed with mixed results on the 11th, while the S&P 500 index achieved its 7th consecutive day of gains.
Easing tensions in Syria provided upward momentum for the stock market. U.S. President Barack Obama delivered a televised national address on the evening of the 10th, stating that he had requested Congress to postpone a vote on the authorization of military action against Syria, allowing for cooperation with countries such as Russia to force Syrian President Bashar al-Assad to abandon chemical weapons through diplomatic channels.
In addition, because Apple's new iPhone 5S and the lower-priced iPhone 5C, unveiled the previous day to cater to emerging market consumers, failed to surprise the market, combined with downgraded ratings on Apple stock to “neutral” by firms including Bank of America Merrill Lynch and Credit Suisse, Apple's share price continued to fall on the 11th. The stock closed down 5.44% at $467.71 per share, which dragged down the Nasdaq Composite Index.
Regarding economic data, reports released by the U.S. Department of Commerce on the 11th showed that U.S. wholesale inventories and sales in July both rose slightly by 0.1% compared to the previous month, failing to meet market expectations. Furthermore, data from the Mortgage Bankers Association showed that due to rising mortgage rates, U.S. mortgage application volume fell significantly by 13.5% on a seasonally adjusted basis for the week ending September 6 compared to the previous week.
As of the close of trading that day, the Dow Jones Industrial Average rose 135.54 points to close at 15,326.60, an increase of 0.89%. The S&P 500 index rose 5.14 points to close at 1,689.13, an increase of 0.31%. The Nasdaq Composite Index fell 4.01 points to close at 3,725.01, a decline of 0.11%.