Market Update – Friday September, 9

The Toronto stock exchange was slightly higher in the afternoon, but lost some of its earlier momentum.
The S&P/TSX composite index gained 5 points to 12,427.
That’s after rising more than 55 points earlier in the session.
In commodities, gold prices lost much of their shine.
Bullion had risen more than $15 in the morning, but was trading up $1.90 near midday.
And the November crude contract gained 56 cents to $92.98 U-S a barrel on the Nymex.
Shares of RIM were lower as the company looked into a BlackBerry outage that affected users in Europe, Middle East and Africa. Chief executive Thorsten Heins released a statement apologizing for the outage, and the company says the technical glitch has been resolved. Meanwhile the new iphone 5 launch left stores empty as  it exceeds expectations for Apple.

On Wall Street, the Dow gained 20 points to 13,620.
The Nasdaq moved ahead 15 points.
The Canadian dollar was higher after a report from Statistics Canada showed that Canada’s inflation rate continued to slide in August. The loonie rose 11-one-hundredths of a cent to 102.52 cents U-S.

Apple Jumps 2.7 points to reach Purple Chip status at 621 billion

Apple is the biggest company in the world now trumping a record set in 1999 by Microsoft – Apple has surpassed and and all expectations to reach a capitalization of over 620 billion.

Apple has the  support of the people and shareholders and set to reach even greater heights with new product launches coming up and a sharp focus on innovation to now maintain and grow this self-perpetuating money making machine.

Apple stock hit new highs  and jumped 2.7% on optimism surrounding  the impending launch of the iPhone 5 and a better small and cheaper iPad in time for Christmas.

Microsoft would still hold the record if the numbers were adjusted for inflation.

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