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Saudi government data: Saudi Arabias imports fell 0.2% in November.Saudi government data: Saudi non-oil exports grew by 20.7% in November.Saudi government data: Saudi Arabias exports grew by 10.0% in November, with oil exports increasing by 5.4%.On January 25th, according to 9to5mac, an online tech media and blog focusing on Apple news, Apple (AAPL.O) agreed to settle a class-action lawsuit early last year alleging that Siri "illegally and intentionally recorded conversations." The issue dates back to 2019, and Apple initially denied any wrongdoing. While Apple has since worked to improve Siris privacy protections, it still decided to resolve the matter through a settlement. Claims for compensation opened in the middle of last year, and users have begun receiving payments. To be eligible for compensation, users had to have purchased a Siri-enabled Apple device between September 17, 2014, and December 31, 2024, and experienced an "accidental Siri activation." Each user could file claims for up to five devices. Although the $95 million settlement was initially expected to pay a maximum of $20 per device (with a single-person cap of $100), the final actual payout was approximately $8.02 per device (with a single-person cap of $40.10).On January 25th, Apple launched promotional activities through some of its direct sales channels. Among them, the iPhone Air, which has only been on the market for three months, has an official price reduction of 2000 yuan, with a maximum discount of 2500 yuan after the national subsidy. On the 25th, customer service at the Apple Stores official Tmall flagship store responded that only the iPhone 16 series is discounted on the official Apple website, and only this store is offering a discount on the iPhone Air through direct sales channels. The customer service representative also suggested adding the product to the shopping cart first. "Everyones very quick during the promotion." Furthermore, the customer service representative stated that this promotion is limited in quantity. Approximately 13,000 iPhone Air units are participating in the promotion.

S&P 500 Rebounds From Session Lows As Energy Stocks Rally

Jimmy Khan

Nov 04, 2022 16:57

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As major tech companies hit new lows, the NASDAQ Composite seeks to settle below the 10,700 mark.

Big Tech Stocks Continue to Be Under Stress

As traders responded to the ISM Non-Manufacturing PMI data, which fell short of analyst forecasts, the S&P 500 recovered from session lows.


Energy stocks took the lead in the recovery from session lows today due to robust support. In today's trading session, ConocoPhillips, APA Corporation, and Marathon Oil all saw gains of 6–7%.


ConocoPhillips had significant price appreciation after exceeding analyst expectations, boosting the dividend, and expanding its share repurchase program by $20 billion.


Despite missing analyst profit expectations, Etsy increased by 14%. The firm gave a positive prognosis for the last quarter of this year, which caused the stock to rise.


Booking increased by 5% with the release of the $6.05 billion in sales and the higher-than-expected adjusted profits of $53.03 per share.


Fidelity National Information Services, which was down 25% following the publication of its quarterly report, was under a lot of pressure due to weak guidance.


Leading tech companies including Apple, Alphabet, and Amazon had declines of 2% to 3%. Meta Platforms, meanwhile, tested fresh lows at $88.50.


If the mega cap companies continue to experience pressure, the whole market will not be able to develop a sustained upward trend. Traders are nonetheless concerned that rising interest rates may harm the bottom lines of powerful corporations.


While the IT industry leaders seemed unstoppable during the coronavirus crisis, their stocks were under a lot of pressure from rising interest rates, a stronger currency, and a slowing global economy. Traders should continue to watch the large tech stocks' movements for hints regarding the S&P 500's future course.

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