Wall Street rallies, despite another NASDAQ glitch

Shares in New York are bobbing around the highs of the day, while the NASDAQ has experienced another outage cause by a problem with its main data feed.

US stocks have surged today, with technology companies leading the advance. By early afternoon in New York, the Dow Jones was trading up 0.82% or 14,955 and the broader S&P 500 rose 0.93% to 1655.0. The technology-focused NASDAQ 100 performed the best out of the three main benchmarks, gaining 1.25% to 3126.6.

Apple, the NASDAQ’s biggest component by capitalisation, rose more than 2% after sending out invites to an event next week at its headquarters in Cupertino, California. The invitations were dispatched by email and showed overlapping, multi-coloured dots around the Apple logo along with the words ‘This should brighten everyone’s day.’

Apple usually launches a new iPhone at this time of year, so the widespread expectation is for this to be the launch event for the iPhone 5s, but the nature of the invitation has strengthened rumours that the new iPhone will come in a variety of colours, as opposed to the traditional black or white. An alternative theory is that Apple will also launch a cut-price, lower-spec version of the iPhone and that this will be the phone that comes in a selection of different colours.

The NASDAQ exchange earlier experienced a brief outage, suffering another glitch with its main data feed, the same area that was at the centre of the three-hour halt in trading a fortnight ago. NASDAQ claims the problem has been solved and trading was not impacted.

The Fed will release its latest Beige Book, a region-by-region evaluation of the US economy, at 7pm BST.

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