Dow Jones Searches for Direction as Apple Stock Rallies; IBM Acquires Automation Company

The Dow Jones Industrial Average (DJINDICES: ^DJI) began Wednesday in the green, but it didn't last. The Dow was down about 0.2% at 11:20 a.m. EDT as the pandemic continued to worsen in many areas of the United States. The U.S. hit 60,000 daily confirmed cases of COVID-19 on Tuesday, bringing the all-time total close to 3 million.

An escalating pandemic almost certainty isn't good news for Apple (NASDAQ: AAPL), but the market brushed off any concerns as an analyst price-target bump sent shares higher. Meanwhile, International Business Machines (NYSE: IBM) stock headed lower along with the market after the IT giant announced a software acquisition.

Image source: Apple.

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Source Fool.com