Market Updates
Movers: Apple, Energy Complex, Casino Stocks, Taboola
Barry Adams
28 Nov, 2022
New York City
Apple Inc declined 2.2% to $144.94 on the worries that the growing unrest in China and at its main contractor Foxconn may create a shortage of iPhone Pro models.
iPhone shipments fell 17% to 8.4 million in October from Henan province, China's customs data showed on Thursday.
Foxconn's mega-complex is based in its capital city Zhengzhou, Henan province where thousands of employees are forced to stay in the factory compounds for more than two months.
Energy producers declined after WTI crude oil prices fell to a 11-month low on China-demand worries.
Exxon Mobil, Chevron, Marathon Oil, Valero, Occidental Petroleum, Hess and Baker Hughes declined between 1% and 3%.
Casino operators increased after China granted provisional licenses to keep operation running in gambling center Macau.
Las Vegas Sands, Wynn Resort, Melco and MGM gained between 0.5% and 6.5%.
Taboola.com Limited soared 47% to $2.70 after Yahoo agreed to acquire a minority stake of 26% in the advertising company.
Yahoo also signed a 30-year contract with Taboola to power its native advertising on all sites operated by the publishing company.
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