Equity Alert
US mkt closes higher; Apple up over 4%, Nasdaq at record high
This story was originally published at 07:53 IST on 11 August 2025
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Equity Alert: US mkt closes higher; Apple up over 4%, Nasdaq at record high
MUMBAI--0737 IST--US indices ended higher Friday, with the Nasdaq Composite notching a fresh record high. Apple surged over 4%, ending the week 13% higher, after US President Donald Trump had said the technology major would invest an additional $100 billion in the US, bringing its total commitment to $600 billion over the next four years. Weak economic data have buoyed investors as hopes of a rate cut in September have intensified. Expectations for a 25-basis-point rate cut in September was 89.4%, according to the CME's FedWatch Tool, up from 80.3% a week ago.
Investors will also keenly look at who succeeds US Federal Reserve Chair Jerome Powell, whose term ends May next year, with Trump publically disgruntled by Powell's unwillingness to cut rates. Trump late Thursday nominated Council of Economic Advisers Chair Stephen Miran for a short-term tenure at the board of the Fed Reserve following Adriana Kugler's abrupt exit last week, Reuters reported. Miran has often been labelled as a Trump sympathiser, with some factions also earmarking him to eventually replace Powell.
Pharmaceutical major Gilead Sciences rose 8?ter it raised its full-year financial outlook. While the Nasdaq closed at a record high, the S&P 500 ended just 32 points away from an all-time high. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite gained 2.4%, 1.3%, and 3.9% for the week.
Following are the closing levels of US indices Friday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 44175.61 | 0.47 |
| NASDAQ Composite | 21450.022 | 0.98 |
| S&P 500 | 6389.45 | 0.78 |
(Akash Mandal)
US$1 = INR 87.73
End
Edited by Tanima Banerjee
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