(Bloomberg) — The rally in tech heavyweights extended into late hours after better-than-estimated results from Apple Inc., with the iPhone maker also raising its dividend and announcing plans to buy back more stock.
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A $250 billion exchange-traded fund tracking the Nasdaq 100 powered higher after the close of regular trading, with Apple soaring after predicting a return to sales growth in the current period. Following the steps of fellow big techs Alphabet Inc. and Meta Platforms Inc., the company approved plans to buy back an additional $110 billion of its shares.
In the run-up to Friday’s jobs report, stocks and bonds climbed, while the dollar dropped the most in 2024.
Economists surveyed by Bloomberg forecast a 240,000 gain in nonfarm payrolls, which would be the slowest pace since November. The Fed decided Wednesday to leave the target range for the benchmark rate at 5.25% to 5.5% following a slew of data…
