Apple's warning couldn't have come at a worse time for stock market investors given the wipeout in late 2018, when many global indexes posted their worst performances in a decade amid concerns about the global economy and the prospect of further U.S. interest rate hikes.
China's Commerce Ministry said trade talks will be held Monday and Tuesday in Beijing and market watchers are once again looking for signs the world's largest economic powers will make progress toward resolving their dispute. After a horrifying howl previous year, the global stocks had still been carrying the wounds inflicted upon them, as a effect of trade war.
China's government said trade talks between the USA and China will be held Monday and Tuesday. "We believe the economic environment in China has been further impacted by rising trade tensions with the United States", Cook said. [MKTS/GLOB] Developments in a patent dispute between Apple and Qualcomm in Germany also rattled investors. Some analysts said investors were acting as if a recession was on the horizon, despite a lack of evidence that the USA economy is struggling.
And it puts us in a very strong position.
Federal Reserve Chairman Jerome Powell said the central bank will be flexible with interest rates. It's not the worst thing in the world, he said. "The Fed understands that what they attempted to communicate last month was inartful, that they didn't get the right message across, and Powell tried to reset". The major US indexes all jumped more than 3%, the latest twist in a wild three months for markets.
Nationals Latest Offer To Bryce Harper Reportedly "Much More" Than $300MM
It will be interesting to see whether or not the Sox land him, knowing that they have also been "all-in" on Harper as well. It can be assumed that Harper also has emotional ties to the Washington organization.
The surprise warning of lower sales revenues in the fourth quarter of 2018 by top USA smartphone maker Apple Inc. sends stock markets into deep fall on Thursday, leading to the question of "how important is the Chinese market to multinationals?" Technology companies took their biggest losses in seven years.
The United States and China have raised tariffs on billions of dollars' worth of each other's goods in a fight over issues including Beijing's technology policy.
U.S. officials are heading to Beijing next week for the first face-to-face talks since Mr Trump and President Xi Jinping in December agreed to a 90-day truce in the trade war as they sought to strike a deal.
Technology and energy stocks are leading the broad gains.
JPMorgan Chase rallied 2.4 per cent to $99.45 and Citigroup rose 4 per cent to $54.67. Most of the companies in those industries stand to do better in times of faster economic growth.
The S&P/TSX composite index closed up 213.87 points or 1.5 per cent to 14,426.62 after hitting an intraday high of 14,438.27. Smaller companies have fallen further than larger ones in the last few months as investors grew nervous about how the USA economy will perform this year and next. Japan's Nikkei returned to trading after a public holiday to drop 2.3% in a delayed reaction to losses across global markets earlier in the week. "There's mounting evidence we're going to see a slowdown".
Huawei Demotes Two Employees Responsible for iPhone Tweet Blunder
He said the action had been taken because the screw-up had "caused damage to the Huawei brand", which is hard to argue with. Huawei was embarrassed before when a "mobile spokesperson" blurted out a Huawei ad from their personal iPhone.
Bond prices fell sharply. That rise helps banks, as higher interest rates enable them to make bigger profits on mortgages and other loans. The S&P 500 gained 2.1 percent, to 2,498. Auto sales tumbled 16 percent in November over a year earlier, and weak real estate sales are forcing developers to cut prices.
In Asia, Hong Kong's Hang Seng jumped 2.2 percent. Retailers and internet companies rose as well, with Amazon up 4.1 per cent at $1,561 and Google's parent company, Alphabet, rising 4.1 per cent to $1,067.
US crude oil surged 3.3 per cent to $48.63 a barrel in NY.
The dollar strengthened. It rose to 108.27 yen from 107.77 yen.
The February gold contract was down US$9 at US$1,285.80 an ounce and the March copper contract was up 7.95 cents at US$2.65 a pound.
Wholesale gasoline dipped 0.1 percent to $1.35 a gallon and heating oil added 1.6 percent to $1.77 a gallon. Boeing saw a 4 percent drop, while Caterpillar shares fell 3.9 percent.
Cerro Gordo County reporting multiple cases of the flu
Healthcare workers are also advised to avail of the vaccine in order to protect both themselves and those that they care for. While nearly half of the USA population gets a flu vaccination annually, the CDC says the impact of influenza remains high.
The Dow Jones Industrial Average rose 467 points, or 2.1 percent, to 23,154.