Major markets higher…Virus research pauses…Apple phones
UNDATED (AP) – Major world markets have turned higher after worries over the pandemic snapped a four-day winning streak on Wall Street. In early European trading, Germany’s DAX gained 0.3% and the CAC 40 in Paris climbed 0.3%. Britain’s FTSE 100 picked up 0.4%. In Asia, Japan’s Nikkei erased early losses to gain 0.1%, while the Hang Seng in Hong Kong eked out a late gain of 0.1%. South Korea’s Kospi lost 0.9% and the Shanghai Composite index shed 0.6%. Wall Street looks poised for gains, with S&P and the Dow futures both up 0.5%.
LONDON (AP) – A leading international economic watchdog is urging the British government to conclude a free trade agreement with the European Union in the coming days and weeks to support the recovery from the coronavirus pandemic. The Organization for Economic Cooperation and Development says a trade deal that ensures a close relationship with the EU will help minimize the costs of Brexit. The organization says the British economy will likely end this year 10.1% smaller as a result of the pandemic, which led to a wide-ranging lockdown in the spring. The resurgence of the virus is leading to new government restrictions on businesses.
UNDATED (AP) – Independent monitors have paused enrollment in a study testing the COVID-19 antiviral drug remdesivir plus an experimental antibody therapy being developed by Eli Lilly that’s similar to a treatment President Donald Trump recently received. Lilly would not say more about what led to this step. Antibodies are proteins the body makes when an infection occurs; they attach to a virus and help eliminate it.
UNDATED (AP) – Apple unveiled four new iPhones equipped with technology for use with faster new 5G wireless networks, hoping that demand for higher data speeds will spark demand for new phones. In a virtual presentation Tuesday, the company announced four 5G-enabled versions of the new iPhone 12 ranging in price from almost $700 to roughly $1,100. Apple also announced a new, less expensive version of its HomePod smart speaker. Smartphone sales have been slowing for years as their technology has matured.
NEW YORK (AP) – Walmart is spreading out its traditional one-day Black Friday deals over three weekends in November in an effort to reduce crowds in its stores during a pandemic. The company’s plans offer the first glimpse from a major retailer of what a reinvented Black Friday will look like during a pandemic. Other retailers like Macy’s have said that Black Friday deals will be spread out and will encourage more online shopping, but none have given specific details. Walmart will kick off the deals online Nov. 4, with new deals in stores on Nov. 7.