(CNBC) — U.S. stocks climbed on Monday as expectations for Apple’s quarterly results outdid disappointment that came as International Business Machines cut its earnings forecast.
“Because it (Apple) is such a visible stock, that can ease a lot of concern. It’s a bellwether for the consumer in a way that some of these other companies may not be,” said Jeffrey Kleintop, chief global investment strategist at Charles Schwab & Co.
However, if Apple’s results prove disappointing, it “may reinforce fears that the U.S. can’t remain decoupled from the rest of the world,” Kleintop said.
