Apple (AAPL) rebounded nearly 3% Wednesday which gave markets a chance to move higher once again. Apple’s heavy weight in most technology indexes lifted most of those indexes nearly 1% on the day.
Economic data in the U.S. was sparse with only Wholesale Trade slipping to only 0.1% vs 0.5% expected & prior reduced to 0.2%. If user outlook is weak then corporations won’t be refilling their inventories. On the other hand if outlooks are good then there should be a good surge in orders especially to prepare well in advance for seasonal shopping.
On a negative note China stocks and related emerging markets lost ground Wednesday as the government noted weakness in the money supply. Selling was heavy and widespread.