Dow’s 485-point rally highlighted by gains for shares of Apple Inc., Dow Inc.

Led by positive gains for shares of Apple Inc. and Dow Inc., the Dow Jones Industrial Average is rallying Tuesday morning. Shares of Apple Inc. AAPL, +4.33% and Dow Inc. DOW, +4.11% are contributing to the index’s intraday rally, as the Dow DJIA, +1.62% is trading 485 points higher (1.9%). Apple Inc.’s shares are up $9.08, or 4.5%, while those of Dow Inc. have gained $2.00 (4.4%), combining for an approximately 75-point boost for the Dow. Also contributing significantly to the gain are Caterpillar CAT, +3.35%, Walgreens Boots WBA, +2.60%, and 3M MMM, +2.64%. A $1 move in any one of the 30 components of the Dow results in a 6.78-point swing.

Editor’s Note: This story was auto-generated by Automated Insights using data from Dow Jones and FactSet. See our market data terms of use.

Shale boom saved economy from recession: Energy secretary

Rick Perry: Technology saved oil and the economy

Energy Secretary Rick Perry on falling oil prices.

Energy Secretary Rick Perry on Tuesday said the shale boom and technology saved oil and the global economy.

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“If you had not had the shale boom, the hydraulic fracturing directional drilling technology that's came to the marketplace, you would see well over $100 barrel of oil and most likely the world's economy in some type of a recession,” he told FOX Business’ Dagen McDowell.

Perry noted that although there are concerns about $55 oil, and would like to see it higher, the Energy Department is most concerned with "stability in the marketplace."

"That's where America and American producers have been so important to the stability of oil and gas prices," he said.

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Broadway’s ‘Slave Play’ To Feature Acclaimed Off Broadway Cast Largely Intact

Jeremy O. Harris’ Broadway-bound Slave Play will arrive with most of its acclaimed Off Broadway cast intact, producers announced today.

Taking the stage at Broadway’s Golden Theatre next month will be Ato Blankson-Wood, James Cusati-Moyer, Sullivan Jones, Chalia La Tour, Irene Sofia Lucio, Annie McNamara, and Paul Alexander Nolan, all from last November’s New York Theatre Workshop staging. Joining the Broadway cast will be Joaquina Kalukango, taking over the role from Teyonah Parris, who co-stars in Disney Plus’ upcoming WandaVision.

Returning to direct is Robert O’Hara.

The Broadway staging will be produced by Greg Nobile and Jana Shea of Seaview Productions, Troy Carter, Level Forward, and Jake Gyllenhaal/Riva Marker-founded Nine Stories.

As previously announced, Slave Play begins a 17-week engagement at Broadway’s Golden Theatre on Tuesday, September 10, with an official opening night of Sunday, October 6.

Slave Play is set on what initially appears to be an old Deep South slave plantation, opening with scenes of sexually charged encounters involving race, gender and power. As the scenarios play out, the audience becomes increasingly aware that, as the production company has described, “nothing is as it seems.”

U.K.’s DWP May Use Blockchain, DLT For Pension And Welfare Payment Transfers

The United Kingdom’s Department for Work and Pensions (DWP) is looking at Blockchain and Distributed Ledger Technologies (DLT) to transform its payment services that is expected to benefit its 20 million claimants and customers.

The new system is expected to reduce time, cost and failure rate associated with making transactions whilst data is stored on a secure immutable ledger. The DWP manages U.K.’s welfare and pension payments and policies.

In a blog post, Richard Laycock, the deputy director of digital payments and banking systems at DWP, wrote that the New Payments Architecture will transform its payments infrastructure by introducing Digital Payment Services to replace its current Central Payment System.

Additionally, the DWP is also looking to introduce open banking with the aim of creating more competition in the payments industry by opening up and standardizing banking data.

Laycock further stated that the DWP is keenly looking at how the payment innovations can influence the New Payment Architecture to help shape future of payments across government.

Apple Card Arrives, But For Select Customers Now

Tech giant Apple Inc. (AAPL) Tuesday started rolling out its new virtual credit card Apple Card.

The card, which is issued in partnership with Goldman Sachs, will be available for limited number of customers at first and then become widely available to all iPhone owners in the US later this month. Apple said consumers who expressed interest in the card will start to receive sign-up invitations.

Apple has focused on privacy, saying that purchase information is stored on the user’s iPhone and that it cannot see the information.

To signup for the card, a user requires an iPhone with iOS 12.4. The signup involves entering your address, birthday, income level, and last four digits of your Social Security number. That information is sent to Goldman Sachs, which will approve or decline your application in real time.

Apple Card offers a 2% cash back on purchases with the Apple Pay service, no fees, an app to manage related finances, and a focus on data privacy.

Customers are also eligible to receive a physical, titanium card if applied. However, the Apple Card won’t use a traditional 16-digit card number, CVV code, or expiration date as a personal identifier. Instead, it will generate those numbers randomly during each transaction to keep purchases secure.