NEW YORK (AP) - U.S. stocks broke two days of losses on Wednesday as a jump in Apple shares helped push indexes higher.
Apple rose 3.1 percent, its biggest gain since April, a day after announcing updated versions of the iPhone, a new smartwatch and a mobile payment system. The company is the largest component of both the Standard & Poor's 500 and Nasdaq composite indexes.
Gains in the broad market were muted as investors fretted over the timing and pace of Federal Reserve increases in interest rates, which are widely expected next year.
Apple made the biggest splash on a slow day for news. Investors scrambled to understand the impact of its new products on the fortunes of other companies, sending a number of stocks sharply higher, and others sharply lower. Apple closed at $101, up $3.01. It is has gained 26 percent since the beginning of the year.
The Dow Jones industrial average ended the day up 54.84 points, or 0.3 percent, to 17,068.71. The S&P 500 rose 7.25 points, or 0.4 percent, to 1,995.69.
The Nasdaq rose 34.24 points, or 0.8 percent, to 4,586.52. Apple comprises 8.5 percent of the tech-heavy index, so a big move in its stock price has an outsize influence on tech-heavy index.