Apple iPhone

Apple shares surge on iPhone sales while stock indexes remain mostly flat

Apple shares surge on iPhone sales while stock indexes remain mostly flat

Investors didn't react much to a strong hiring survey or the Federal Reserve's decision to leave interest rates alone Wednesday, and U.S. stocks finished little changed. Apple shares soared after the company said iPhone sales improved in its latest quarter.

Stocks jumped in morning trading after payroll provider ADP said hiring by private employers grew stronger in January. Bond prices climbed. But the market's gains later thinned, partly because investors sold shares of companies that pay big dividends as bond yields rose.

Stocks briefly turned higher after the Fed's announcement, but that also faded. The only constant was the big gain for Apple.

The Federal Reserve...

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