Wall Street ticks up in choppy trading after mixed bank results

(Reuters) – Wall Street’s main indexes inched higher in choppy trading on Wednesday as investors digested a mixed bag of quarterly earnings reports from major U.S. banks.

FILE PHOTO: Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson

Goldman Sachs edged up as strength in its trading business helped quarterly profit surge 94%. Bank of America shed 4.0% after it missed revenue estimates and Wells Fargo declined 4.6% as its profit fell short of forecasts.

The S&P 500 banks index dropped 1.3% as the third-quarter earnings season took off amid improving expectations over the extent of the drop in overall profits for S&P 500 firms. Analysts now expect earnings to fall 18.9% from a year, according to

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The stock market is sending signals that a Biden-led blue wave is getting less certain, says one Wall Street strategist


  • While the polls suggest a blue wave victory is in reach for Democrats this November, the stock market isn’t so sure, according to a note from Evercore ISI.
  • Wall Street strategists have been forecasting that a blue wave would likely be positive for stocks on hopes of a large stimulus deal shortly after the election, which would help spur a surge in value and cyclical stocks.
  • But this week’s rotation out of value and into tech suggests that chances of a blue wave in November are less likely, according to the note.
  • Visit Business Insider’s homepage for more stories.

Wall Street is increasingly expecting a blue wave victory for Democrats this November after the polls close, which would likely lead to the reflation trade: a surge in cyclical and value stocks at the expense of technology and growth stocks.

But recent trading activity in the stock market suggests

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Apple iPhone 12 to launch without wired earbuds, wall charger in box

  • Apple’s iPhone 12 will not come with wired headphones in the box, nor will it come with a wall charger.
  • It will come with a USB C to Lightning cable, however.
  • The company made the announcement when unveiling its iPhone 12 lineup on Tuesday, and attributed the removal to environmental concerns.
  • The omission comes as Apple’s wireless AirPods have exploded in popularity in recent years, and the company moves to make its packaging more sustainable.
  • Visit Business Insider’s homepage for more stories.

Apple will no longer include its wired EarPod headphones in the box with its new iPhones, starting with the iPhone 12.

The company is also removing the wall charger from the iPhone’s box. Apple will include a USB-C to Lightning cable, however, which can be plugged into a computer or adapter for charging.

Apple executive Lisa Jackson announced the change Tuesday afternoon after announcing its new smartphone lineup.

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The Wall Street Journal announces speaker lineup for its first ever virtual WSJ Tech Live

Press release content from Globe Newswire. The AP news staff was not involved in its creation.

NEW YORK, Oct. 13, 2020 (GLOBE NEWSWIRE) — The Wall Street Journal is set to host its annual WSJ Tech Live conference online on October 19-21, 2020.  

Reimagining the online event experience, this year’s WSJ Tech Live will feature interviews with top executives from across the globe, exclusive demos, virtual excursions, a lively debate and an interactive town hall on the power tech companies wield and their responsibility to users.

The three day conference will cover a number of topics including a look at big tech, antitrust and regulation; the latest breakthroughs in artificial intelligence, quantum computing and their potential to transform business and society; how companies are tackling complex questions of data and privacy while working to regain consumer trust; the new ecosystem of startups; the future of work

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For the first time ever, Apple’s next iPhone won’t include wired earbuds or a wall charger in the box



a computer mouse on a table: Apple's wired EarPods headphones Hollis Johnson/Business Insider


© Hollis Johnson/Business Insider
Apple’s wired EarPods headphones Hollis Johnson/Business Insider

  • Apple’s iPhone 12 will not come with wired headphones in the box, nor will it come with a wall charger.
  • It will come with a USB C to Lightning cable, however.
  • The company made the announcement when unveiling its iPhone 12 lineup on Tuesday, and attributed the removal to environmental concerns.
  • The omission comes as Apple’s wireless AirPods have exploded in popularity in recent years, and the company moves to make its packaging more sustainable.
  • Visit Business Insider’s homepage for more stories.

Apple will no longer include its wired EarPod headphones in the box with its new iPhones, starting with the iPhone 12.

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The company is also removing the wall charger from the iPhone’s box. Apple will include a USB-C to Lightning cable, however, which can be plugged into a computer or adapter for charging.

Apple executive

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Robin Hood foundation scores Wall Street support for nonprofits

CEO of The Robin Hood Foundation, Wes Moore, speaks during The Robin Hood Foundation’s 2018 benefit at Jacob Javitz Center on May 14, 2018 in New York City.

Kevin Mazur | Getty Images

One of Wall Street’s favorite charitable organizations has raised several million dollars to support a fund that invests in nonprofit groups run by people of color. 

The Robin Hood foundation’s Power Fund kicked off this summer as the coronavirus pandemic spread and amid nationwide protests sparked by the police killing of George Floyd on Memorial Day.  

Robin Hood funds over 200 poverty-fighting programs in New York City. It is led by Wes Moore, an author and former investment banker at Citigroup.

“I think part of the thing we’ve seen is that everything we’ve witnessed post George Floyd, these aren’t new things because of George Floyd,” Moore told CNBC. “I think that the conversations we’ve been able to

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Asian shares lower after tech-driven rally on Wall Street

Shares were mostly lower in Asia on Tuesday as investors awaited the release of Chinese trade data.

An overnight rally on Wall Street, driven mainly by technology companies such as Apple and Amazon, faded amid worries over U.S. economic stimulus and a resurgence of coronavirus caseloads in many countries.

Shares fell in Tokyo, Shanghai and Seoul but rose in Sydney. Hong Kong’s market was closed for a typhoon.

Chinese state media reported that exports jumped 10.2% in yuan, or renminbi, terms in September from a year earlier, while imports rose 4.3%, according to the General Administration of Customs. Dollar-based figures were due later in the day.


Traders were keeping an eye on the Chinese currency after the central bank scrapped a requirement for currency traders to post cash deposits, opening the way for more negative speculation on the country’s yuan, which might help to restrain its rise in value.

The

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Apple and Amazon drive rally on Wall Street

(Reuters) – Wall Street ended sharply higher on Monday, fueled by expectations of a coronavirus relief package and by a rally in Amazon, Apple and other technology stocks ahead quarterly earnings season.

Apple Inc jumped 6.4%, adding $128 billion to its stock market value, ahead of an event on Tuesday, when it is expected to unveil its newest iPhones.

Amazon rallied 4.8% ahead of its annual Prime Day shopping event on Oct. 13 and 14. Microsoft jumped 2.6%, helping lift the S&P 500 information technology index 2.7%.

The S&P 500 was about 1% below its record closing high from Sept. 2, nearly recovering from most of a 9% pullback last month.

“Apple is crushing it. There’s some euphoria around the name,” said Phil Blancato, chief executive of Ladenburg Thalmann Asset Management in New York. “The market leaders are once again the tech names, supported by the fact that the economy

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Strong gains for technology stocks send Wall Street higher

NEW YORK — Solid gains for technology stocks pushed Wall Street higher Monday, tacking more gains onto last week’s rally. The S&P 500 rose 1.6%. Big Tech companies including Apple and Amazon, whose businesses have been thriving despite the pandemic, led the way higher. Companies that depend more on broad growth in the economy didn’t rise as much. Investors are still waiting to see whether Washington can get past its partisan divide to deliver more support for the economy. This week also marks the start of earnings reporting season, when CEOs will detail how their companies fared from July through September.

THIS IS A BREAKING NEWS UPDATE: AP’s earlier story appears below.

Stocks are pushing higher on Wall Street in afternoon trading Monday and tacking more gains onto last week’s market rally, its best in three months.

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Wall Street Adds More Gains to Last Week’s Rally; Tech Leads | Business News

By STAN CHOE and ALEX VEIGA, AP Business Writers

Stocks are pushing higher on Wall Street in afternoon trading Monday and tacking more gains onto last week’s market rally, its best in three months.

The S&P 500 was 1.8% higher, following up on strengthening in stock markets around the world. The Dow Jones Industrial Average was up 308 points, or 1.1%, at 28,895, as of 12:35 p.m. Eastern time, and the Nasdaq composite was 2.6% higher.

The gains are being driven mostly by Big Tech stocks, whose businesses have proven to be practically impervious to the pandemic, rather than companies that would benefit from a strengthening economy.

Apple climbed 5.4% and alone accounted for nearly a quarter of the S&P 500’s rise. Amazon gained 5.1%. Both companies have events coming up this week, with Apple expected to unveil its latest batch of iPhones on Tuesday and Amazon holding its Prime

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