Australia’s central bank chief signaled no rush to join global peers in reining in stimulus even as the nation’s economy “does look to be improving”. Hours after the Federal Reserve suggested it would hike again this year, Philip Lowe reiterated that a rise in global interest rates “has no automatic implications” for Australia, in a speech delivered in Perth. The Australian dollar fell almost half a U.S. cent. Still, Lowe warned that the tightening would eventually flow through Down Under and people should be prepared for that as the jobs market improves and inflation rises. He said a flexible currency gives the central bank “considerable independence regarding the timing as to when this might
Apple (AAPL) is falling nearly 2% in heavy volume, breaking below a significant technical level. With the breach of the 50-day line, that also puts Apple below a prior buy point at 156.75. But the key question here: Does Apple's action result in a sell signal? The short answer is that it depends on how the stock closes today, and whether you're a long-term or short-term shareholder. Apple was down 1.9% to 155.67 in afternoon trading in the stock market today, tumbling as low as 153.83 on Apple Watch connectivity concerns. Volume is more than double normal levels. If Apple closes below the 50-day, it could be seen as a sell signal for those that bought the stock at the 156.75 entry. But we need
Google is biting off a big piece of device manufacturer HTC for $1.1 billion to expand its efforts to build phones, speakers and other gadgets equipped with its arsenal of digital services. It's buying the HTC engineering team that built the Pixel smartphone for Google in a cash deal, the companies said in a joint statement Thursday. Google is also getting a non-exclusive license for Taiwan-based HTC's intellectual property to help support Pixel phones.