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(Close): A jump in Apple shares helped push Wall Street higher, ending two days of falls.

The iPhone maker rose 3.1% after Apple launched new products on Tuesday, an unveiling that was initially greeted with investors marking the shares down.

The rise helped the tech-heavy Nasdaq, where Apple is a big constituent, gain 0.75%, or 34.2 points, to 4,586.5.

The Dow Jones rose 54.8 points or 0.32%, to 17,068.7, while the S&P 500 rose 7.25 points, or 0.36%, to 1,995.6.

Ebay fell 5.7% on worries that the new Apple payment system launched on Tuesday threatens its own PayPal service.

ExxonMobil fell 0.6% as oil prices dropped to new multi-month lows. Caterpillar shed 1.4% following a downgrade by Bank of America Merrill Lynch.

McDonald's, up 2%, was the Dow's biggest riser. On Tuesday the company reported poor sales for August.

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