The markets advanced during the midday with the Dow climbing 52 points to 18,611. Nasdaq soared 57 points to 5,094.
The much anticipated launch in Japan today of global phenomenon Pokemon Go was delayed due to concerns that servers would be overloaded. The game is now set to launch on Thursday. Shares of Nintendo fell.
Needham & Co. analyst Laura Martin expects Apple to benefit from the Pokemon Go craze. Since launching two weeks ago, the mobile game has generated more than $35 million in net revenue. Apple receives a percentage of sales from in-app purchases.
Many local businesses have begun offering discounts to Pokemon Go players. Some restaurants and bars have given players 10% discounts on their bills. Other retailers have purchased lures to generate more Pokemon at their site in order to entice more players visit their stores.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 10 points to 2,174. Bitcoin lost $2 to $663.
