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Dow, S&P end at record highs as Apple deal lifts techs

Published on Dec 24, 2013 6:07 AM
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Traders work the floor of the New York Stock Exchange as the Dow Jones Industrial Average closed up 42 points at 16,221 points on Dec 20, 2013 in New York City. United States (US) stocks climbed on Monday, with the Dow and S&P 500 advancing to all-time highs as a distribution deal by Apple Inc with China Mobile boosted the technology sector. -- PHOTO: AFP

NEW YORK (REUTERS) - United States (US) stocks climbed on Monday, with the Dow and S&P 500 advancing to all-time highs as a distribution deal by Apple Inc with China Mobile boosted the technology sector.

Apple rose 3.8 per cent to $570.09, its biggest percentage gain in three months, after the tech titan said on Sunday it had signed a long-awaited agreement with China Mobile Ltd to sell iPhones through the world's biggest network of mobile phone users, a deal that could add billions of dollars to its revenue.

Apple's gains helped power the S&P technology sector index to a gain of 1.5 per cent, making it the best performer of the 10 major S&P sectors. The stock's massive market capitalisation helped lift both the S&P 500 and the Nasdaq.

US-listed shares of China Mobile rose 1.6 per cent to $52.47.

 
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