Wall Street ekes out gain, Apple cuts revenue forecast after the bell
The Dow Jones Industrial Average rose 18.78 points, or 0.08 percent, to 23,346.24, the S&P 500 gained 3.18 points, or 0.13 percent, to 2,510.03 and the Nasdaq Composite added 30.66 points, or 0.46 percent, to 6,665.94. Wall Street edged higher on Wednesday after stumbling out of the starting gate on the first trading day of 2019, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast. Apple dropped 8 percent in extended trading late in the day after the iPhone maker slashed its outlook for the December quarter, blaming weak demand in China. Shares of Apple's suppliers also fell, and S&P 500 futures dropped 1.3 percent, signalling that Wednesday's modest advance could unwind when the market reopens on Thursday. "To see Apple's sales drop off this much says something about the Chinese economy," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. "Any com...