iPhone sales drop 24% in China 📱 LIFX APGE 📈 GTLB ALB 📉

FlowBank's hand-curated fresh financial news [header_noDither] Apple iPhone Sales Decline in China Amid Huawei's Resurgence Apple iPhone sales plummeted by 24% in China during the first six weeks of 2024, as reported by Counterpoint Research. This decline was attributed to stiff competition from local smartphone manufacturers, especially Huawei, which saw a significant resurgence with its Mate 60 model. While other Chinese smartphone brands also experienced declines, Huawei notably increased its shipments by 64% year over year, challenging Apple's position in the Chinese market. This shift comes amidst broader supply chain challenges faced by Apple and intense competition in the high-end device segment. WHAT'S MOVING [Group 1742 (41)-1] [Start Trading](113/cXx8Z04/VX6pzP11mt6fW7mNHyD1S_9vMW3kyKQV5bkm8dM9V8kj2-ZVTW6N1vHY6lZ3p4W8MhHvR7nqh1ZW5Kx3DV7pVbsNW3R8b8M1fzw3rW27Hpv8485GnNW1kkqJl5V2nHxW64yjY14BSCV_W4GjCR72fC6QZW1VzymN4v6wRJN2n1-mv8KSqMW2-cx9S6RQ_NGW3Wbnd871HnXCW3VzPpf4L0MrHW8GCn6B2FPDTnVZnywm7VB6LBW8jKr7R3JsWpBW7n9sxJ2Bh767VXYjyR4Kdf6sW7tXHRn5v8_3FW8p64W08zdJZRW582h3N6kShvRW42WjxX6SvpPYW47GLRh5p23-Zf8mg_l004) [Group 3 (41)-2] Tesla Tesla shares dropped 4.5% following a suspected arson attack at a Berlin Gigafactory substation, halting production. The incident, which is under investigation as arson, has sparked concerns over the factory's expansion and environmental impact. [Group 1752 (32)] TikTok Congress introduced a bill requiring ByteDance to sell TikTok or face a U.S. ban, intensifying concerns over the app's Chinese connections and sparking debates on national security versus free speech. [Group 1750 (41)] Microsoft Microsoft defends OpenAI against The New York Times' copyright infringement claims, comparing the lawsuit to Hollywood's initial resistance to the VCR. The dispute highlights concerns over AI's use of copyrighted content, with Microsoft asserting such use is essential for AI development. WHAT'S COMING UP? GBP: Spring Forecast Statement USD: ADP Nonfarm Employment chng (Feb): Exp. 149K v Prev. 107K CAD: BoC Interest Rate Decision: Exp. 5.00% v Prev. 5.00% USD: Fed Chair Powell Testifies USD: JOLTs Job Openings (Jan): Exp. 8.800M v Prev. 9.026M USD: Crude Oil Inventories: Exp. 2.600M v Prev. 4.199M IN OTHER NEWS Wall Street Stocks declined for the second consecutive day on Tuesday, led by significant losses in major technology companies like Apple, which pushed the overall market down from recent record highs. The Nasdaq Composite experienced a 1.65% decrease, ending at 15,939.59, while the Dow Jones Industrial Average fell by 404.64 points, or 1.04%, to 38,585.19. Similarly, the S&P 500 dropped by 1.02%, closing at 5,078.65. [Group 1769] Europe European stocks ended lower on Tuesday, with the Stoxx 600 closing down 0.27%, as most sectors saw declines ahead of the upcoming European Central Bank (ECB) meeting. Mining stocks dropped by 0.9%, whereas utilities gained 1.8%. The ECB meeting later this week is anticipated to maintain steady interest rates amidst signs of subsiding inflation. MARKET INSIGHTS Forex Trading Weekly Outlook: Eyes On ECB Meeting, Powell’s Testimony Ahead Of US Jobs Data Currency markets are gearing up for a crucial week marked by a flurry of economic events that could spark substantial fluctuations. 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