As the first closing bell of 2018 rang, Wall Street finished well into the green. After opening higher 115 points this morning, the Dow Jones Industrial Average finished Tuesday up about 80 points, or 0.3%. The S&P 500 gained more than 0.6% and the Nasdaq shot higher over 1% as tech stocks led the index to its best day since November.
Apple Inc. (AAPL) shares were higher Tuesday after the company announced its iPhone battery replacement discount will go into effect immediately, instead of later this month. The company had come under intense criticism after it was discovered older iPhones were slowing down as a result of a software fix to protect the aging batteries in the units.
Netflix Inc. (NFLX) stock also rose Tuesday after analysts at Macquarie upgraded shares to outperform from neutral. Macquarie said changing consumer preferences in favor of advertising-free television are an obvious plus for the streaming service. Netflix also has potential upside for revenue as its most recent round of price hikes goes into effect. Also Tuesday, Citi said Netflix has about a 40% chance of be acquired by Apple.