U.S. Stocks Rise as Tech Shares Rally; Apple Tumbles
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U.S. stocks rose, after benchmark indexes reached five-year highs, as lawmakers voted to temporarily suspend the federal debt limit and technology stocks rallied amid better-than-forecast earnings.
Futures on the Nasdaq 100 Index slid 1.8 percent following the close of U.S. markets as Apple Inc. tumbled 11 percent after reporting first-quarter sales below forecasts. Google Inc. and International Business Machines Corp. jumped more than 4.4 percent in regular trading after earnings topped estimates. Advanced Micro Devices Inc. surged 11 percent after revenue beat forecasts, helped by sales of chips that run servers.