Stocks edge mostly lower despite big gain for Apple

Stocks ended Wednesday’s trading slightly lower as shares of energy companies and consumer goods makers outweighed gains in technology companies like Apple.

Investors also worked through the Federal Reserve’s latest policy statement. The Fed didn’t make any changes to interest rates but left the door open for increases later this year.

The Dow Jones industrial average fell 1.58 points, less than 0.1 percent, to 18,472.17. The Standard & Poor’s 500 index lost 2.60 points, or 0.1 percent, to 2,166.58. The technology-heavy Nasdaq composite rose 29.76 points, or 0.6 percent, to 5,139.81.

Apple jumped $6.36, or 6.6 percent, to $103.03. While the company reported lower revenue and iPhone sales, it still earned $10.5 billion last quarter, well above analysts’ estimates. Apple had been one of the biggest drags on the market this year as investors became concerned that its years of massive growth were coming to an end. Apple nearly erased its loss for the year.

ASSOCIATED PRESS

This story was originally published July 27, 2016 at 5:40 PM with the headline "Stocks edge mostly lower despite big gain for Apple."