Thursday’s Headlines: Market Rallies As Tensions in the Middle-East Ease
1. iPhone maker Apple revealed that its news service has reached 100 million monthly active users, up 18% on last year. As well as this, the company said that between December 24 and January 1, its customers spent $1.42 billion in the App Store. The report shows a 16% increase over the previous year, and the $386 million spent on January 1 alone shows a 20% increase. For the full report, read here.
2. U.S. stock markets were on the verge of all-time highs on Wednesday, mere hours after an Iranian missile strike took place against two U.S. military bases in Iraq. Despite being on the verge of all-out war with the Islamic Republic, President Donald Trump said during an afternoon speech that he wasn’t expecting further retaliation from Tehran and noted that there were no casualties. The calm response of the President helped to push the S&P 500 and Nasdaq to new intraday records, as investor tensions ease on the conflict… for now. Catch up on the full story here.
3. Facebook stock rose on Wednesday following its announcement that it would remove ‘deepfake’ and other manipulated videos from its website. The move comes after months of criticism and will combat the spread of false information ahead of the 2020 presidential race. However, House lawmakers have said that the reaction does not go far enough. The site was widely criticized for allowing Russia to spread misinformation during the 2016 presidential elections. Get the complete story here.