Summary Box: Apple's profits propels Nasdaq

AP News
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Posted: Apr 25, 2012 5:23 PM
Summary Box: Apple's profits propels Nasdaq

EVEN MORE iPHONES: Apple jumped 8.9 percent to $610 after reporting that its earnings doubled in the first three months of the year. The company sold 35 million iPhones, twice as many as in the same quarter a year ago.

APPLE EFFECT: The technology-focused Nasdaq composite index had its best day this year. The Nasdaq shot 2 percent higher, powered by a surge in Apple, the largest component of the stock index.

FED NEWS: Financial markets barely budged after the Federal Reserve said it would stick with its plan to keep a key short-term interest rate near zero.