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Apple weathers anti-U.S. demo in China, where patriotic protests snowball

24 Jul

A 3D printed Apple logo is seen in front of a displayed stock graph in this illustration takenApple Inc found itself on the receiving end of a small, short-lived anti-U.S. protest this week in China, the tech firm’s biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats. A handful of unofficial Apple stores were picketed and social media users encouraged each other to destroy their Apple goods, in a rare instance of the tech firm being targeted as a symbol of perceived injustice following an international ruling against Chinese territorial claims. “There’s not much Apple or any other foreign firm can do to prevent such patriotic protests,” said analyst Nicole Peng at researcher Canalys, who sees no impact to Apple’s sales from the recent protest.

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Silicon Valley leads avalanche of quarterly reports

23 Jul

A Wall Street sign outside the New York Stock ExchangeA quartet of technology heavyweights will be part of an avalanche of quarterly corporate earnings reports next week that, along with a meeting of Federal Reserve policymakers, could hold the key to whether Wall Street extends its record-breaking rally or loses steam. With second-quarter reporting season kicking into high gear, scorecards from Apple , Alphabet , Amazon.com and Facebook will be front and center for investors eyeing the S&P 500′s already-stretched valuation following a nearly 9-percent rally since June 27. “These are very widely owned companies by institutional investors and there could be selling if the news is bad,” said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

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Wall Street flat; GE leads industrials lower

22 Jul

Traders work on the floor of the NYSEThe stock was the biggest loser on the Dow and the biggest drag on the S&P 500. The S&P 500 and Dow are trading at record highs on upbeat sentiment over second-quarter corporate earnings, with analysts now expecting smaller profit declines and more companies topping those estimates. “The market is digesting a very strong post-Brexit rally,” said Adam Sarhan, Chief Executive of Sarhan Capital.

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Wall Street little changed on mixed earnings reports

21 Jul

Traders work on the floor of the NYSEThe stock was the biggest drag on the three major indexes, while fellow chipmaker Qualcomm was the biggest positive influence on the S&P and Nasdaq. Qualcomm was up 6.9 percent at $59.68 after its quarterly results and forecast topped market estimates. Another boost to the S&P and Nasdaq was Biogen , which was up 6.7 percent at $278.32 after its results beat expectations.

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Microsoft, Morgan Stanley lift Dow, S&P to records

20 Jul

Traders work on the floor of the NYSEMicrosoft surged 6.4 percent to $56.47, providing the biggest boost to the three major indexes, after its results handily beat expectations. The technology index rose 1.34 percent, leading the six gainers among the 10 major S&P sectors. Morgan Stanley was up 2.1 percent at $28.79 after its profit topped analysts’ estimates, rounding off upbeat results from the six biggest Wall Street banks.

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Microsoft lifts Dow, S&P to records, before oil limits gains

20 Jul

Traders work on the floor of the NYSE(Reuters) – The Dow and the S&P 500 were little changed on Wednesday, easing after hitting fresh intraday records, as the boost to tech stocks from Microsoft’s results was curbed by a drop in energy stock as oil prices fell.

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Artificial Intelligence Swarms Silicon Valley on Wings and Wheels

19 Jul

The valley has found its next shiny new thing in A.I., and financiers and entrepreneurs are digging in with remarkable exuberance.

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Wall Street drops with tech stocks; Netflix weighs

19 Jul

Traders work on the floor of the NYSEAlso weighing on sentiment was the International Monetary Fund’s move to cut its global growth forecasts for the next two years due to uncertainty over Britain’s looming exit from the European Union. J&J rose 2.1 percent to a record high of $125.75, while UnitedHealth was up 0.5 percent. The two stocks helped make the healthcare sector the only gainer, with a 0.1 percent rise, among the 10 major S&P sectors.

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Wall Street flat as oil price drop offsets earnings momentum

18 Jul

Traders work on the floor of the NYSEAfter the S&P and Dow hit record intraday highs almost every day last week, investors will seek to justify stock valuations by assessing the quality of earnings and forecasts, especially in the backdrop of the Brexit vote. The bank’s shares rose 1.4 percent to $13.86, helping the S&P financial index gain 0.3 percent. “The markets are going to be driven by earnings reports while geopolitical problems take a backseat for now,” said Peter Cardillo, chief market economist at First Standard Financial in New York.

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Can stocks stay at highs? That depends on earnings

16 Jul

A Wall Street sign outside the New York Stock ExchangeAfter finally eclipsing year-old record highs, the U.S. stock market will be tested again next week, when the onslaught of company earnings could help investors assess the impact of Britain’s vote to exit the European Union.

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