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S&P opens at record high as Irma weakens; Apple in focus

Apple shares dipped 0.3% ahead of the event


The S&P opened at a record high on Tuesday as Irma further weakened to a post-tropical cyclone, and ahead of the highly anticipated launch of the new iPhone. The weakening of Irma, the second major natural disaster to hit the United States after Hurricane Harvey, allayed concerns about the severity of its financial impact. "Investors have gained confidence that the worst is over and concerns over Irma's economic impact seem to have disappeared for the moment," said Andre Bakhos, managing director of Janlyn Capital in Bernardsville, New Jersey. All eyes will be ...

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First Published: Tue, September 12 2017. 21:26 IST