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Money

iPhone sales up in China continuing Apple revenue momentum

Apple (AAPL) shipped 10 million iPhones in China during September and October, according to Bloomberg. That would be an increase of 6% from the same period in 2019. The projections add to speculation that sales of the iPhone 11 are running ahead of Wall Street expectations.

Oil prices under pressure as OPEC meeting looms

Oil prices are down significantly today, November 19, on speculation that data to be released tomorrow will show a fourth straight weekly increase in U.S. oil inventories and nervousness about a successful conclusion to U.S.-China Part 1 trade talks. As of 1:30 p.m. New York time U.S. benchmark West Texas Intermediate was down 2.89% to $55.40 a barrel and international benchmark Brent crude was off 2.39% to $60.95 a barrel. In the background of today's action, though, is a fear that Russia and other producers will not agree to cut output further at the December 5 and 6 OPEC meeting in Vienna.

Nvidia climbing with chip rally, keeping as Jubak Pick

After the close on November 14 Nvidia (NVDA) announced fiscal third quarter 2020 quarterly earnings of $1.78 a share, 20 cents a share above the Wall Street consensus. Revenue of $3.10 billion was $92.21 million above projections. Chip stocks are currently among the hottest performers in the technology sector and the market as a while. Witness the 4.11% gain in shares of Nvidia today, November 18, at the close. But the company doesn't seem totally out of the woods.

Fed report notes that continuing low interest rates could threaten U.S. (and global) financial security.

Yesterday Fed chairman Jerome Powell told the House Budget Committee that"we're in a world of much lower interest rates." He seemed to shrug his shoulders at the prospect as if to say, Hey that's what it is and the Fed doesn't have much power to change that trend. Today, in the latest version of the Fed's semi-annual report on threats to financial system stability, the U.S. central bank wasn't quite as prepared to shrug off the problems created by extended low interest rates.

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