US Stock Market Move | Apple Inc. (AAPL.US) rose more than 1.6%. JP Morgan is expected to take over its credit card project from Goldman Sachs Group, Inc.

On Wednesday, Apple Inc. (AAPL.US) stock price rose, rising over 1.6% to $220.36 at the time of writing. The overall US stock market was down, with the Nasdaq falling by 0.12%, the S&P 500 index dropping by 0.1%, and the Dow Jones Industrial Average declining by 0.15%. On the news front, Goldman Sachs Group, Inc. decided to exit the consumer finance business, leading Apple Inc. to find a new bank to take over its credit card project with over 12 million users. Currently, Apple Inc. is in negotiations with JPMorgan Chase, as the credit card project involves high-risk customers and JPMorgan Chase is seeking a favorable price to take over. If JPMorgan Chase and Apple Inc. reach an agreement, this will further strengthen the cooperation between one of the largest banks in the US and one of the largest tech companies in the world.