Dow Jones Gains 100 Points as Apple Shares Surge, Consumer Stocks Rise
The Dow Jones Industrial Average (DJINDICES: ^DJI) was up 0.4% as of 1:30 p.m. EDT following positive economic news from the housing market. U.S. sales of previously owned homes increased by the most on record in July, rising to the fastest pace since 2006. Despite the COVID-19 pandemic and intense economic uncertainty, rock-bottom mortgage rates are fueling demand for housing.
Apple (NASDAQ: AAPL) was leading the Dow higher on Friday, surging on no apparent news. Also up were consumer stocks Walmart (NYSE: WMT), Nike (NYSE: NKE), and McDonald's (NYSE: MCD), which may have benefited from the strong housing data.
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Source Fool.com
