Apple's gains lift tech in quiet day before jobs data
Published on Dec 7, 2012 6:33 AM
NEW YORK (REUTERS) - United States (US) stocks closed modestly higher on Thursday, a day ahead of the key monthly jobs report, as a rebound in shares of Apple helped boost technology shares.
Traders were reluctant to bet heavily a day before the Friday release of the November employment report. Just 5.62 billion shares changed hands on US exchanges, shy of the 6.48 billion daily average this year.
Investors are also keeping watch on the "fiscal cliff" negotiations in Washington to see if lawmakers can reach a deal to avoid a series of spending cuts and tax hikes beginning in January.
"Right now we're just drifting, waiting to learn about the cliff and jobs," said Mr Donald Selkin, chief market strategist at National Securities in New York. "The only stabilising factor is that Apple is higher again, which is lending some support to the broader market."
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!