The S&P 500 and the Nasdaq have jumped to record highs after softer inflation data lifted hopes for a rate cut by the Federal Reserve, while Apple overtook Microsoft as the world’s most valuable company.
Apple’s shares climbed 3.7 per cent to hit a record high and dethrone Microsoft for the first time in five months, with the iPhone maker’s market valuation rising to $US3.24 trillion ($A4.84 trillion) versus Microsoft’s $US3.23 trillion.
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Source Agencies
