Market Chatter: Apple Shares Inch Higher; Fiat CEO Cancels Appearance At Motor Show

Apple (AAPL) shares inched higher in trading Monday after CNBC reported the technology giant is on pace to set a new initial sales record for the newly-unveiled iPhone, beating sales of 10 million units sold in the first weekend last year. Apple also said customer response to the iPhone 6S and iPhone 6S Plus has been “extremely positive” and noted that weekend pre-orders were “very strong” across the world. Recently AAPL was up on light volume of 40 million shares. Average daily volume is 57.2 million shares.

Fiat Chrysler Automobiles N.V. (FCAU) shares were lower Monday after CEO Sergio Marchionne canceled his appearance at the Frankfurt International Motor Show in Germany, Reuters and other newswires reported. The move, according to Reuters, is an indication that Fiat Chrysler could be close to reaching an agreement with the United Auto Workers union. The carmaker told Reuters Marchionne is remaining in the U.S. to deal with business matters.