NEW YORK - Tech shares led US stocks higher Monday, with Apple surging ahead of a new iPhone launch as investors shrugged off the stalemate over US stimulus talks in Washington.The Dow Jones Industrial Average advanced 0.9 per cent to 28,837.52, while the broad-based S&P 500 climbed 1.6 per cent to 3,534.22.
Wedbush Securities called the new iPhone"Apple's most important product cycle since the iPhone 6 in 2014," with demand by Chinese consumers to upgrade to the phone expected to be strong. The latest maneuverings by the White House on fiscal stimulus suggests significant difficulty in reaching an agreement before the November 3 election, but investors are becoming more confident of a larger deal down the road.
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