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Here’s what happened to the stock market on Tuesday


Apple CEO Tim Cook visits an Apple store in Shanghai, China.

Aly Song | Reuters

 Dow Jones Industrial Average rises 131 points

Apple hits record high

Apple shares rose 2.13% to a record high as Wall Street ananalyst and investors cheered a slew of announcements from the tech giant. One analyst hiked his price target on the stock to $400 per share from $325 per share. Microsoft and Amazon also hit all-time highs, rising 0.67% and 1.86%, respectively.

Wall Street shakes off wild overnight ride

Tuesday’s gains came after a wild overnight session amid comments from White House trade advisor Peter Navarro. In an interview with Fox News, Navarro said the U.S.-China trade deal was “over.” The comment sent stock futures tumbling. However, Navarro later clarified his comments “had nothing at all to do with the Phase I trade deal, which continues in place.” This clarification sent stock futures back higher.

What happens next?

Weekly jobless claims data are set for release Wednesday morning.

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