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Dow Poised For New Record High as Apple Injects iPhone X-Factor to Global Stocks

Wall Street could close out the week with another record high Friday as global investors prepare for the October employment report and watch from ripple effects from Apple Inc's (AAPL - Get Report) stronger-than-expected earnings and guidance.

European stocks are certainly looking firm in early trading, with Germany's DAX index hitting another lifetime high of 13,505.01 points in early trading before paring gains modestly to around 55.7 points, or 0.41%, on the session for the benchmark of shares in Europe's biggest economy. Britain's FTSE 100 is also in the green, extending yesterday's surge -- the biggest in three months -- by 19 points to take the index to 7,575 points.

Wall Street may also make another run at all time highs today, but much will depend on the Labor Department's October employment report, where analysts are expecting to see around 315,000 new jobs added to the economy amid a post Hurricane Harvey and Hurricane Irene hiring surge. The headline unemployment rate is forecast to hold at 4.2%.

Wall Street may also make another run at all time highs today, but much will depend on the Labor Department's October employment report, where analysts are expecting to see around 315,000 new jobs added to the economy amid a post Hurricane Harvey and Hurricane Irene hiring surge. The headline unemployment rate is forecast to hold at 4.2%.

Apple's stronger-than-expected fourth quarter earnings statement, which included revenue forecasts of between $84 billion to $87 billion for the months in its fiscal year that overlap the holiday season, was also a solid sentiment boost for global financial markets which are becoming increasing reliant on tech-sector gains to fuel the current rally.

Apple shares were marked 3.2% higher in after-hours trading, indicating a record high opening price of $173.49 later today on Wall Street, a figure that would take the Cupertino, Calif.-based group's market capitalisation over $900 billion.


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