Apple stock achieves its highest daily gain in two weeks
US indices closed with slight gains on Monday amid anticipation of Fed Chairman Jerome Powell's statements at the Fed's meeting on Tuesday and Wednesday, which is expected to result in interest rates being stabilized in the range of 5% to 5.25%.
Wall Street investors' fears of a possible government shutdown have also increased, especially after US Treasury Secretary Janet Yellen's statements in which she downplayed the risks of an economic recession, but warned that a government shutdown would lead to a loss of momentum.
Performance of major US indices:
The Dow Jones Index rose by 0.02%, equivalent to 6 points, in the Monday session, after losses of about 0.8% in the Friday session.
The S&P 500 and Nasdaq Composite indices also closed with little change, under pressure from a decline in Tesla shares by about 3%, compared to a rise in Apple shares by 1.7%, achieving the highest daily gains in two weeks, with the company adding about $46 billion to its market value in one day.
Apple's gains came after a report by Morgan Stanley stating that there is strong demand for the iPhone15 in China, which the bank considered a positive surprise given previous news about the possibility of imposing a ban on iPhones for government employees.
Arm shares
Arm's stock fell by 4.5% in its third trading session after being listed on the Nasdaq Stock Exchange, causing the company to lose about $3 billion to its market value in one day.
These losses came after Bernstein began its coverage of the British chipmaker with an underperform rating.
PayPal shares:
PayPal shares fell by about 2% in Monday's session, recording the largest daily loss in more than a month, after Moffett Nathanson downgraded its rating to market perform from outperform.
