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Tech giant Apple Inc (AAPL.O) cut its sales forecast, citing a slowdown in China. [.N] The news rattled U.S. equity markets and weighed on oil prices, which at times track Wall Street. Weaker-than-expected U.S. factory data also added to economic worries. “Oil is flip-flopping on concerns of supply and demand,” said Phil Flynn, an analyst at Price Futures Group in Chicago. “It’s really a battle between the supply situation, which looks to be tightening, versus the possibility that demand will drop off.” pearl cufflinks tiffany.
U.S pearl cufflinks tiffany. oil and gas executives’ outlook turned negative for the first time since the low point of the last oil bust, according to results of a survey released on Thursday by the Federal Reserve Bank of Dallas. Investors have been concerned about rising supply from top producers, including the United States and Russia. U.S. crude stocks fell last week, while gasoline and distillate inventories built, data from industry group the American Petroleum Institute showed on Thursday. Crude inventories fell by 4.5 million barrels in the week ended Dec. 28 to 443.7 million, compared with analysts’ expectations for a decrease of 3.1 million barrels..
Gasoline stocks rose by 8 million barrels, compared with analysts’ expectations in a Reuters poll for a 2 million-barrel gain. Distillate fuels stockpiles rose by 4 million barrels, compared with expectations for a 1.6 million-barrel gain, the API data showed. Official U.S. government data is due to be released on Friday pearl cufflinks tiffany. Riyadh was expected to cut February prices for heavier crude grades sold to Asia due to weaker fuel oil margins while reducing prices for light grades to keep Saudi oil competitive against rising U.S. shale oil supplies, a Reuters survey showed on Thursday..
(Reuters) – Apple Inc shares plunged 10 percent on Thursday after the iPhone maker blamed weak China demand for a holiday-quarter revenue shortfall, with many investors worried the rare stumble was a harbinger for slowing global growth pearl cufflinks tiffany. Global financial markets felt the shockwaves as Apple shares logged their biggest intra-day percentage fall in six years, sending the company’s stock market value to under $700 billion, well below its $1.1 trillion October peak. After Apple’s first revenue warning in nearly 12 years, investors also dumped chipmakers and tech stocks and flocked to perceived safe havens like U.S. Treasuries and the Japanese yen. [MKTS/GLOB] Developments in a patent dispute between Apple and Qualcomm in Germany also rattled investors..
A senior White House economic adviser said he expected trade uncertainty to hit earnings at many U.S. companies, but that sales at Apple and others with large exposure to China would recover once Washington and Beijing strike a trade deal. “That is having an impact on earnings and it’s not going to be just Apple,” White House Chairman of the Council of Economic Advisers Kevin Hassett said in an interview with CNN pearl cufflinks tiffany. “I think there are a heck of a lot of U.S. companies that have a lot of sales in China that are basically going to be watching their earnings be downgraded next year.”..