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Wall Street Retreats On Trade Cloudiness
NEW YORK (Reuters) - U.S. stocks fell on Thursday, with the S&P 500 pulling back from its latest record high as conflicting signals surrounding a possible trade deal between the United States and China outweighed strong earnings reports from Apple and Facebook.
Sir Harold Evans, trailblazing newspaper editor, dies aged 92 from heart failure.
Sir Harold exposed the plight of hundreds of British thalidomide children who had never received any compensation for their birth defects
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Fleet Street legend Sir Harold Evans has died in New York aged 92. The formereditor of The Sunday Times and editor-at-large for the Reuters news agencydied of congestive heart failure, his wife Tina Brown said.
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Business Insider reports that US stocks are on course to close lower for a third consecutive week. The S&P 500 has lost nearly 9% since early September's record high. That decline was mainly driven by losses in the technology sector. But Goldman Sachs, Wells Fargo and Deutsche Bank are upbeat the US stock market sell-off is mostly over. Goldman Sachs kept its end-of year S&P 500 target to 3,600 by year end.
2020 has been a wild ride for stocks. Business Insider reports that the market continues to face risks stemming from the COVID-19 pandemic. There is also election uncertainty, and the potential for heightened trade tensions with China. BI reports that investors should continue to hold on for the potential of more gains ahead. In a note, investment group LPL raised its year-end S&P 500 fair-value target to a range of 3,450 to 3,500, the note said.
According to Business Insider, JPMorgan expects the S&P 500 to rise another 6% from current levels to a record 3,600 before the year is over. The S&P500's earnings recovery is "ahead of expectation." Tech stocks have done well, boosting the index. The S&P500 will continue to support its recovery while other sectors gain through the second half of the year, they added. JPMorgan expects S&P 500 firms' margins to fully recover from the pandemic by the second half of 2021.
CFRA's Sam Stovall said that the recent S&P 500 pullback may be converted into a "low-level, double-digital correction." According to Business Insider, Stovall said that this will be an opportunity for investors to buy, not "bail." He feels the Fed is likely to keep interest rates low for the next few years. Stovall added that recent S&P 500 sell-off was not surprising. For Stovall, the "extreme" difference between price returns for growth stocks versus value stocks made the market vulnerable.
A group of Apple's critics - including Spotify Technology, Match Group and "Fortnite" creator Epic Games - have joined a nonprofit group that plans to advocate for legal and regulatory action to challenge the iPhone maker's App Store practices. Fred Katayama reports.
Apple TV+ series Tehran tells the thrilling fictional story of a Mossad agent who goes deep undercover on a dangerous mission in Tehran that places her and everyone around her in dire jeopardy. Stars Shaun Toub and Niv Sultan talk to Hindustan Times about finding the humanity in their adversarial characters.
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Apple has finally marked its first retail presence in the country by way of its very own e-commerce portal named Apple Store Online. The store offers a full range of its products and services directly to customers across India. According to Mashable, the online store offers a range of new services that haven't been available to Indian users before. The customers can now interact with Apple Specialists, who can help customers with a range of product-related queries - from custom-configuring a Mac to set up new devices. Customers can get advice, receive guidance, and learn about new products directly from Apple in Hindi and English. Through its financing options and trade-in program, the platform also offers a range of affordable services and products. Students can shop for a Mac or iPad with special pricing and receive discounts on accessories. The Cupertino giant's AppleCare+ service - which extends the standard two-year limited warranty and adds accidental damage coverage - is also being offered to Indian customers for the first time. Mashable reported that following today's launch, Apple's next steps in India include a flagship brick-and-mortar store set to open in Mumbai in 2021.
Dramatic footage shows an unidentified driver speeding through a police checkpoint in Minsk, Belarus.
Dozens of officers can be seen surrounding the vehicle as they begin to beat the windows with batons, before pulling one person from the car.
The driver managed to escape, speeding off against the normal flow of traffic.
According to local media, the driver was later arrested.
Belarus President Alexander Lukashenko was sworn in to his sixth term in office after weeks of huge demonstrations against the authoritarian leader's reelection, which the opposition claims was rigged. Report by Avagninag. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The whole world is so excited about Zayn and Gigi welcoming a baby girl into the world. We are yet to find out a name but we cannot wait to see her! Report by Jonesl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rishi Sunak has outlined new financial support for workers and businesses at a Downing Street press conference. The chancellor also warned "for at least the next six months the virus and restrictions are going to be a fact of our lives". Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Boris Johnson battled the sound of loud thunderclaps as he tried to talk to reporters about the new NHS Covid-19 app during a visit to a police training centre in Northamptonshire. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Wall Street lost ground on Thursday as data showed midwest manufacturing falling into a deeper slump and concerns about the U.S.-China trade war truce rattled investors. Conway G. Gittens wraps up the..
Real Money stock of the day AMD posted earnings after the bell Tuesday night. For the quarter, adjusted earnings per share came in at 18 cents, in line with Wall Street expectations. Revenue was $1.8..