Apple won’t boost production of iPhone 14 due to slower demand: report

Apple Inc. is scrapping plans to ramp up production of its latest iPhones this year after weaker-than-expected demand, according to a new report. Bloomberg News reported Tuesday evening that an expected surge in demand had not materialized. Citing sources familiar with the matter, Bloomberg said suppliers have been asked to back out of efforts to … Read more

Canada to scrap mask mandate on planes, joining Japan, Hong Kong and U.A.E. in lifting COVID restrictions

The Canadian government announced on Monday that it will no longer require people to wear masks on planes to guard against COVID-19, the Associated Press reported. The rules will be lifted on October 1. Government officials have also confirmed that Canada is dropping the vaccine requirement for people entering the country at the end of … Read more

U.S. stock futures dip, dollar rises as Italian election results add to uncertainty

U.S. stock index futures fell late on Sunday, suggesting losses on Monday, as a far-right party’s predicted victory in Italy added to uncertainties over rising interest rates and fears of recession . After falling nearly 200 points earlier in the session, Dow Jones Industrial Average YM00 futures, -0.55% were down about 150 points, or 0.5%, … Read more

Stocks crashing? No, but here’s why this bear market feels so painful — and what you can do about it.

Stock market crash hashtags may be all the rage on Twitter, but the selloff that sent U.S. stocks into a bear market was relatively orderly, market professionals say. But it is likely to become more volatile – and painful – before the market stabilizes. It was indeed a tour de force for investors on Friday … Read more

Don’t look for a stock market bottom until a soaring dollar cools down. Here’s why.

It will be difficult for the stock market to stop its slide and find a bottom as long as the U.S. dollar continues to soar against its rivals, market analysts say. Global equities suffered a bruising week, with the S&P 500 narrowly avoiding its lowest close of the year on Friday. Meanwhile, a key U.S. … Read more

U.S. stocks suffer another week of losses, Dow ends lowest since November 2020 as bond yields hammer equities after Fed rate hike

US stocks closed sharply lower on Friday, with the Dow Jones Industrial Average ending at its lowest closing value since November 2020. All three major benchmarks suffered another week of losses as bond yields rose to the following the Federal Reserve’s interest rate hike on Wednesday. For the week, the Dow Jones fell 4% while … Read more

These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market

Another tough week for US equities ended with oil producer stocks falling and Ford Motor Co. falling on concerns about supply shortages. The S&P 500 SPX fell 1.7% on Friday for a 4.6% drop over the week as investors continued to worry about interest rate hikes from the Federal Reserve to temper inflation. Among the … Read more

‘The housing market may have to go through a correction’: Mortgage rates hit 6.29%, Freddie Mac says

Numbers: Mortgage rates in the United States continue to climb, adding hundreds of dollars in costs to potential homeowners. The increase in mortgage rates followed the Federal Reserve raising interest rates to deal with the worst inflation the economy has faced in 40 years. The 30-year fixed-rate mortgage averaged 6.29% as of September 15, according … Read more

‘Moore’s Law’s dead,’ Nvidia CEO Jensen Huang says in justifying gaming-card price hike

On Wednesday, Nvidia Corp. chief executive Jensen Huang said he thought it would be “a pretty great fourth quarter for Ada,” the company’s next-generation chip architecture unveiled this week, even as critics balk at a price hike during a slowdown in consumer demand. . NVIDIA NVDA, +0.65% expects strong demand for gaming chips using its … Read more

The Dow tumbled 500 points because Jerome Powell’s Fed ‘isn’t going to blink’

It took stock market investors a while to make up their minds, but when the closing bell rang on Wednesday, it was clear they didn’t like what they’d heard from the Federal Reserve and its chairman. Jerome Powell. See: Fed Approves Third Big Interest Rate Hike, Signals More Before Year End Central bankers have also … Read more