Wall Street Today | Apple is reportedly preparing an hardware subscription service
Stocks, U.S. futures steady as oil holds retreat
Stocks in the Asia-Pacific were steady Friday, bolstered by signs of economic resilience as investors weigh risks from tightening Federal Reserve monetary policy and Russia’s military campaign in Ukraine.
Stocks in the Asia-Pacific were steady Friday, bolstered by signs of economic resilience as investors weigh risks from tightening Federal Reserve monetary policy and Russia’s military campaign in Ukraine.
Australian equities edged higher, while futures pointed to cautious opens for Japan and Hong Kong. U.S. contracts fluctuated after technology shares helped the S&P 500 index to close at a more than six-week high.
Apple is reportedly preparing an iPhone subscription service that could launch this year
$Apple(AAPL.US$ is preparing a hardware subscription service for iPhones that could launch as soon as the end of this year, Bloomberg News reported on Thursday.
$Apple(AAPL.US$ is preparing a hardware subscription service for iPhones that could launch as soon as the end of this year, Bloomberg News reported on Thursday.
The move would represent the culmination of a longtime Apple investor desire to see the company sell its hardware as a subscription, which would boost recurring revenue and could lead to an increase in the stock price.
Nvidia jumps, lifting nearly all other U.S. stocks on growth bet
A rally in $NVIDIA(NVDA.US$ spilled over to semiconductor and tech shares on Thursday and helped broad U.S. markets extend gains as the chipmaker pledged this week to invest in the expansion of its core business.
Nvidia soared nearly 10%, the biggest gainer in the S&P 500 Index, as the company told investors its priority is to use cash to expand its business instead of buying back its own stock -- helping buoy investor sentiment on the outlook for chipmakers.
Oil demand destruction is here amid Ukraine war, JPMorgan says
Commodities markets have a well-worn saying that “the cure for high prices is high prices.” According to JPMorgan Chase & Co., the process may just be starting to happen in oil.
Consumers are feeling the pinch as oil has jumped to more than $100 a barrel following Russia’s invasion of Ukraine. But the actual war in Ukraine, the financial sanctions targeting Russia and the spread of the omicron variant in China have all had even more of a direct impact on oil demand than those elevated prices, according to the bank.
World taps Canada for potash, uranium as war roils markets
Buyers scrambling for supplies of potash and uranium are looking to Canada to fill gaps caused by the war in Ukraine.
North America's largest miner is Canadian company $Cameco(CCJ.US$ The producer told Bloomberg earlier this month in an email that its production plans remain unchanged from what they announced in February, which was that they vowed to maintain supply discipline by limiting production at two of its key Canadian uranium operations.
BlackRock's Larry Fink, who oversees $10 trillion, says Russia-Ukraine war is ending globalization
Larry Fink, CEO and chairman of the world's biggest asset manager, $Blackrock(BLK.US$, said Russia's invasion of Ukraine has upended the world order that had been in place since the end of the Cold War.
"The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades," Fink said in his 2022 letter to shareholders. "It has left many communities and people feeling isolated and looking inward. I believe this has exacerbated the polarization and extremist behavior we are seeing across society today."
Southwest Airlines launches a new, second-cheapest fare
$Southwest Airlines(LUV.US$ on Thursday unveiled its new fare class: a second-cheapest option it hopes will reel in customers willing to pay up for more flexibility.
The "Wanna Get Away Plus" fare sits just above the "Wanna Get Away" fare and just below its "Anytime" fare. It will allow travelers to make same-day changes to their tickets without paying the difference in fare that the lowest tier requires.
Uber to list New York City taxis on its app as old foes make peace
$Uber Technologies(UBER.US$ will list New York City taxis on its ride-hailing app in a deal that promises to end years of rancour between the tech company and drivers of the iconic yellow cabs in the biggest US city.
Under the agreement, taxi drivers who use Creative Mobile Technologies’ system to process customer payments will be featured on Uber's app.
Source: Bloomberg, CNBC, FT
Source: Bloomberg, CNBC, FT
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