Record Gain of 7.3% Moves Markets

  • Apple regained No. 2 position from Nvidia in S&P 500 index
  • Apple’s stock closed at a record $207.15 after gaining $14.03 or 7.3% on Tuesday
  • Market capitalization rose to about $3.18 trillion, more than Nvidia’s $2.97 trillion
  • Call-option volume in Apple hit highest daily trading activity since 2021 with 2.9 million contracts
  • S&P 500 closed at a record high of 5,375 on Tuesday
  • Without Apple’s gain, S&P 500 would have dropped 0.18%
  • Apple has a 6.7% weighting in the index, lifting it by 0.45%

On Tuesday, Apple’s stock reached a record high of $207.15 after gaining $14.03 or 7.3%, propelling the company past Nvidia in the S&P 500 index and contributing to an overall increase in market capitalization. This surge had a significant impact on the S&P 500, as without Apple’s gain, the index would have dropped by 0.18%. The high call-option volume of 2.9 million contracts marks the highest daily trading activity since 2021. With this move, Apple now holds a $3.18 trillion market capitalization, surpassing Nvidia’s $2.97 trillion and Microsoft’s $3.22 trillion. The company’s influence on the index is evident as it accounts for 6.7% of its weight, lifting it by 0.45%.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Apple’s share price surge and its impact on the S&P 500 index, including relevant statistics and quotes from a financial expert. It is concise and focused on the main topic without any digressions or unnecessary details.
Noise Level: 3
Noise Justification: The article provides brief information about Apple’s share price surge and market capitalization but lacks in-depth analysis or context on the reasons behind it, as well as any long-term implications or actionable insights for readers. It also includes some irrelevant details like the pre-market trading update.
Public Companies: Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT)
Key People: Christopher Murphy (co-head of derivatives strategy at Susquehanna Financial Group)

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Financial Relevance: Yes
Financial Markets Impacted: Apple’s share price surge impacts S&P 500 index and other companies like Nvidia, Microsoft.
Financial Rating Justification: The article discusses Apple regaining the No. 2 position in the S&P 500 index and its impact on the market capitalization of other companies such as Nvidia and Microsoft.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.marketwatch.com www.wsj.com