All eyes were on Apple after the bell. Earnings came in just after 4:30 pm and the technology company beat on both revenue and earnings per share.
Apple reported earnings of $3.89 versus estimates of $3.86, and revenue was reported at $88.3 billion versus estimates of $87.3 billion. Tim Cook said, "iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped."
The company also reported a record $285.1 billion in cash reserves.
The number of Americans applying for unemployment benefits fell this week as the labor market continues to hold up in the face of the Federal Reserve aggressive campaign to cool the economy and bring down inflation.
Wall Street is drifting amid mixed trading Thursday, threatening to send the S&P 500 to its first losing week in the last four following some discouraging reports on the economy.
The upcoming trial in a voting machine company’s defamation lawsuit against Fox News for airing false allegations of vote fraud in the 2020 presidential election will not include testimony about the Jan. 6 uprising at the U.S. Capitol, a judge ruled Wednesday.
Ted Rossman, a senior industry analyst with Bankrate.com, joined Cheddar News to provide guidance on how to raise your credit score, especially for would-be homebuyers.
Chipotle filed a lawsuit in California federal court against Sweetgreen over the salad chain's chicken burrito bowl, claiming infringement for using the word "chipotle" in the name.
