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Rebound by Apple pushes U.S. stocks up

Dec. 07, 2012 @ 07:26 AM

NEW YORK — Apple and other technology companies led the stock market up for the second day in a row Thursday.

The gains came a day after Apple took its worst fall in four years. In separate interviews, CEO Tim Cook said Apple will produce one of its Mac computers in the United States next year and will spend $100 million in 2013 to shift production of the line from China.

The tech giant’s stock gained $8.45 to $547.24.

The Dow Jones industrial average rose 39.55 points to close at 13,074.04. Intel led the Dow, rising 31 cents to $20.16.

Investors’ biggest concern remains the automatic tax increases and federal spending cuts scheduled to start Jan. 1. “Everybody is paying close attention to the soap opera in Washington,” said John Canally, investment strategist and economist at LPL Financial.
 

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