International News and Market Update: Apple unveils new computer chips amid shortages

 International News and Market Update: Apple unveils new computer chips amid shortages

International News and Market Update: Apple unveils new computer chips amid shortages.

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European stock markets closed lower on Monday as investors reacted to slowing economic growth in China and rising oil prices added to inflation concerns. The pan-European Stoxx 600 provisionally ended 0.5% lower, with auto stocks leading the losses with a 1.9% drop. All sectors and major bourses closed in negative territory.

U.S. stocks rebounded Monday after opening lower as investors bet on a continuation of strong earnings reports from major companies. Tesla and Netflix advanced ahead of third-quarter reports due this week. Strong first-week earnings results, including from the biggest banks, have put the major stock markets within striking distance of their all-time highs. The Dow is nearly 1% off its record high, while the S&P 500 and Nasdaq Composite are 1.3% and about 2.5% below their records, respectively.

Asia-Pacific stocks advanced in early trade, with tech stocks in the region jumping after their Wall Street counterparts posted similar gains overnight. Minutes from the Reserve Bank of Australia’s October monetary policy meeting show the RBA expects the Australian economy to “return to growth in the December quarter and return to the pre-Delta path in the second half of 2022”.

Apple unveils new computer chips amid shortages

Apple has unveiled its M1Pro and M1Max chips, which are used in the new MacBook Pro laptops. Apple says the M1 Max chip is the most powerful the company has ever built, with 57 billion transistors. The new chips were announced nearly a year after the company unveiled its first Mac computers powered by silicon it developed in-house. The announcement came after it was reported that Apple had cut its production targets for the iPhone 13 in light of the global shortage of computer chips. Apple claims the new chips will achieve comparable performance to its latest 8-core laptop chip PC, which runs at top speed while consuming 70% of the power. At full power, the chip would be up to 1.7 times faster than the 8-core chip PC, according to the company. Apple unveils new computer chips amid a shortage

North Korea fires submarine ballistic missile into waters off Japan

North Korea has fired a submarine-launched ballistic missile into waters off the coast of Japan, according to South Korea’s military. The launch came weeks after South Korea unveiled its own such weapon. Pyongyang had unveiled the “new” type of submarine-launched missile in January, calling it “the most powerful weapon in the world.” At this time, intelligence chiefs from South Korea, Japan and the U.S. are reportedly meeting in Seoul to discuss North Korea. In recent weeks, Pyongyang has conducted a series of tests of alleged hypersonic missiles, long-range cruise missiles and anti-aircraft weapons. Some of these tests violate strict international sanctions.

Mandy Nunes

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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