Latest News

Wedbush analyst Dan Ives said Monday that a $2 trillion market valuation for Apple is 'within grasp' after he boosted his price target on the tech giant to a Wall Street high $515 per share.

MercadoLibre and Canopy Growth were early leaders, but stock futures were mixed as small caps ran ahead of the Dow Jones.

President Donald Trump extended jobless benefits Saturday as stimulus talks stall. Here are four risks to the stock market rally now.

For Horizon Investments, managing risk is at the core of every investment decision. And this helps determine the best ETFs and funds to own.

Shares of Apple Inc. rallied 1.2% in premarket trading Monday, after Wedbush analyst Dan Ives boosted his price target to a Street-high of $515 from $475, citing a "discernible uptick" in forecasts for the upcoming iPhone 12. He said that uptick bodes well for demand trends heading into this "super cycle" October launch. He kept his rating at outperform, while establishing a new "bull case" target of $600. Ives's price target is now the highest among the 41 analysts surveyed by FactSet, above second place $510, from First Shanghai analyst Xiao Yu Han. Ives's target is 15.9% above Friday's closing price of $444.45, and 22.1% above the FactSet average target of $421.75. "While the soft macro and COVID backdrop are weighing on near-term consumer demand trends, Apple has a "once in a decade" opportunity over the next 12-to-18 months as we estimate roughly 350 million of Cupertino's 950 million iPhones worldwide are in the window of an upgrade opportunity," Ives wrote in a note to clients. The stock has soared 51.4% year to date through Friday, while the Dow Jones Industrial Average has slipped 3.9%.

The oil behemoth will keep paying dividends—worth about $18 billion a quarter—despite weak energy prices.

U.S. Covid-19 cases top 5 million, Twitter and TikTok discuss deal, Hong Kong media tycoon Jimmy Lai arrested, and other news to start your day.

(Bloomberg) -- U.S. equity futures held firm, while Treasury yields fell and the dollar strengthened after President Donald Trump took executive actions to extend economic aid.Twitter Inc. climbed in pre-market trading after Dow Jones reported that the company has held early talks about a combination with TikTok. European shares advanced, led by banks. Oil rose after Saudi Aramco said demand will continue to improve. Portugal’s 30-year bond yield fell below 1% for the first time since March.‘Astounding’ Apple Close to Eclipsing Entire Russell 2000: ChartOn Saturday, Trump signed four executive orders to maintain some assistance, including for unemployment benefits, a temporary payroll tax deferral, eviction protection and student-loan relief.Trump’s policy announcements come as Democrats and Republicans are still negotiating a broader additional virus relief package. The two sides are still trillions of dollars apart on overall spending and on key issues, including aid to state and local governments and the amount of supplementary unemployment benefits.“The fresh stimulus provided by President Trump through executive orders is better than none at all and provides a stopgap solution,” said Lee Hardman, a strategist at MUFG Bank in London. “Pressure remains though on both the Democrats and Republicans to reach a more substantial and durable compromise solution.”European stocks briefly dipped on Monday after China retaliated against the U.S. by sanctioning 11 Americans. The list includes Senators Marco Rubio and Ted Cruz, but no members of the Trump administration.Still, it’s another sign of discord between the two nations as the Trump administration takes a harder line against China in the run-up to the November election.Elsewhere, shares in Lebanese real-estate company Solidere closed slightly higher as they traded for the first time since the deadly blast in Beirut’s port that killed more than 150 people.Lebanon’s Biggest Stock Rallies From Drop as Trading Resumes Here are some key events coming up:Earnings include Barrick Gold, SoftBank, Telstra, Deutsche Telekom, Carlsberg, Tencent and JD.com.New Zealand’s policy decision is due on Wednesday.China releases a slew of data for July on Friday, including industrial production and retail sales.U.S. retail sales are expected Friday, with a smaller increase forecast for July than in the prior two months.These are the main moves in markets:StocksFutures on the S&P 500 Index were little changed at 7:33 a.m. New York time.The Stoxx Europe 600 Index rose 0.3%.The MSCI Asia Pacific Index dipped 0.1%.The MSCI Emerging Market Index declined 0.2%.CurrenciesThe Bloomberg Dollar Spot Index rose 0.3%.The euro sank 0.3% to $1.1746.The British pound dipped 0.2% to $1.3031.The Japanese yen weakened 0.2% to 106.17 per dollar.The offshore yuan was little changed at 6.9721 per dollar.BondsThe yield on 10-year Treasuries declined one basis point to 0.55%.The yield on two-year Treasuries declined less than one basis point to 0.13%.Germany’s 10-year yield sank two basis points to -0.53%.Britain’s 10-year yield fell two basis points to 0.117%.Japan’s 10-year yield dipped one basis point to 0.012%.CommoditiesWest Texas Intermediate crude gained 0.5% to $41.79 a barrel.Brent crude climbed 0.2% to $44.79 a barrel.Gold weakened 0.2% to $2,030.60 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

U.S. stock-index futures trade mostly higher Monday after President Donald Trump over the weekend signed executive orders that would extend some elements of coronavirus relief. The measures face likely legal hurdles and questions about their effectiveness, however, while continued U.S.-China tensions might also cap upside, analysts say.

Microsoft Corp has emerged as the most likely buyer of the U.S. operations of TikTok, the popular Chinese short-video app that U.S. President Donald Trump is preparing to effectively ban on national security grounds. A deal would be in line with Microsoft's stance toward China where the firm has a sizeable presence - unlike fellow U.S. tech heavyweights such as Facebook Inc and Alphabet Inc's Google which appear to have given up on China's consumer-facing market with its miscellany of government strictures. The country accounts for over $2 billion in annual revenue, Microsoft President Brad Smith said earlier this year.

This remote work software company's recent pullback obscures its bright future.

The tech sector is still in the lead, but consumer-discretionary group trails only slightly.

If you want to know who really controls Apple Inc. (NASDAQ:AAPL), then you'll have to look at the makeup of its share...

Over the weekend it was reported that social media firm Twitter has held initial talks about a possible deal to acquire TikTok’s US operation, something that Microsoft has spent weeks negotiating with TikTok parent ByteDance and the White House.

Multiple media reports suggest Twitter has emerged as a potential suitor for TikTok following President Donald Trump's move to have the U.S. operations of its video-sharing business sold to an American company.

Trump has given Microsoft until Sept. 15 to put together a blueprint for an acquisition that safeguards the personal data of Americans stored on the short-video app, and he has issued an order to ban it if there is no deal by then. Microsoft is negotiating a transition period that will give it time to ringfence TikTok technologically from ByteDance after they agree to a deal, Reuters reported on Aug. 2. The clean break that Trump and lawmakers envision could take a year or more, some of the sources said.

Here are three reasons to expect the e-commerce giant to follow in Apple's footsteps.

The Nasdaq 100 pulled back a bit during the trading session on Friday after the Non-Farm Payroll number came out. As such, the market looks likely to have shown a bit of an overextension as the Nasdaq 100 reached the top of the channel.

Apple suppliers in Hong Kong and China declined on Monday, after analysts predicted Donald Trump's ban on WeChat could lead to a sharp drop in iPhone shipments, as the American technology giant may have to remove the popular app from its App Store.On the mainland, Shenzhen-listed Luxshare Precision Industry, which derives 55 per cent of its income from Apple, plunged by as much as 7.7 per cent in early trading, before paring some of the losses, to close 2.3 per cent lower at 52.43 yuan. GoerTek, a producer of the AirPods wireless earbuds, fell 1.6 per cent to 38.01 yuan.Hong Kong-listed AAC Technologies, which counts on Apple for 40 per cent of its revenue, dived 5.6 per cent to HK$57.8. AAC makes acoustic components for Apple's iPhones, iPads and watches.Handset assembler BYD Electronic International, which analysts expect to start supplying Apple as soon as this year, plummeted 7.5 per cent to HK$31. Sunny Optical Technology, a maker of camera modules also expected to become an Apple supplier, retreated 2.8 per cent to HK$140.7.US President Donald Trump issued an executive order last week banning any transaction related to the Chinese social media app WeChat and its parent firm, Tencent Holdings, starting 45 days from Thursday. This would have far-reaching consequences for Apple, analysts say, as the company generated 16 per cent of its US$59.7 billion revenue from the Greater China region in its third financial quarter. Tencent drags Hong Kong's Hang Seng Index down as it plummets to six-week low"The US government's blacklisting of WeChat would have the greatest impact on iPhone among Apple's products," said TF Securities International analyst Kuo Ming-chi, who has become famous for his accurate predictions about Apple's product development, in a report published on Sunday.In the worst case scenario, in which Apple would be forced to remove WeChat from its App Store globally, iPhone's annual shipments could decline by 25 to 30 per cent as a result of the ban, Kuo said."As WeChat has become a necessity for life in China that incorporates functions from messaging to payment, digital business, socialising and news, we believe Apple's product shipment in China would decline significantly if this came true," he said.In the most optimistic case, however, Apple may only have to remove the app within the US, which would translate into a slight decrease of 3 to 6 per cent in iPhone deliveries globally, according to Kuo.Shares of Apple retreated by 2.3 per cent to US$444.45 in New York on Friday following the announcement.The plunge marked a drastic change in sentiment, coming just days after the market was buoyed by Apple's stunning financial third-quarter results. Investors piled into Apple suppliers listed in Hong Kong and China after iPhone sales were estimated to have soared in China by 225 per cent from the previous quarter by research firm CINNO.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.

Beijing-based ByteDance, the owner of global short video hit TikTok, is taking steps to move into the online stock brokerage and wealth management business in Hong Kong, trademark registration documents show. ByteDance applied last December to register a trademark called Songshu Zhengquan, which translates to Squirrel Securities, in Hong Kong, the city’s online intellectual property database shows. The trademark application is being "examined", according to the database, and areas of business it applied for include "computerized financial information services, stock trading, brokerage services and stock exchange quotations."

Small luxury cars are a great way to enter the world of automotive luxury without spending a fortune.

89% of the S&P 500’s market cap have already reported second-quarter results. Moderna, Pfizer, and AstraZeneca’s efforts to develop a Covid-19 vaccine enter Phase 3. And Apple splits its stock.

(Bloomberg) -- Tencent Holdings Ltd. added to Friday’s sharp decline to start the week, putting the stock’s two-day loss of market value at $66 billion following America’s move to ban residents from doing business with the company’s WeChat app.The stock fell 4.8% Monday and nearly reached Friday’s low. The cumulative 9.6% drop, the worst two days since October 2011, followed a four-month, 70% surge which put shares into record territory and made the internet giant Asia’s most valuable company at nearly $700 billion.Tech stocks in Hong Kong led declines in the city Monday, with the Hang Seng Tech Index falling as much as 3.6%. The sector was also among the weakest performers in China, with the ChiNext Index dropping as much as 2%. Suppliers to Apple Inc. saw some of the biggest declines.Why Tencent and WeChat Are Such a Big Deal in China: QuickTakeDeteriorating relations between the U.S. and China are raising investor concerns about the geopolitical impact on economies and markets. In addition to the the WeChat ban, Trump signed an order to prevent U.S. residents from doing business with ByteDance Ltd.’s TikTok app starting in six weeks.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

The control room, which runs a fleet of hydroelectric plants across the Piedmont region, hard hit by the pandemic, had to be secured to keep the lights on. Operator Enel, Europe's largest utility, moved quickly to create a parallel backup control room at a smaller site 30 kms (18.6 miles) away while also plugging some key workers into the plant's data base so they could work from home to help keep control. "We'd never done this sort of thing over a long period of time but it worked instantly," said Giuseppe Serrecchia, Enel's head of Global Power Generation Digital Hub.