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Apple unveils four new iPhone 12 models with 5G: CNBC After Hours

Apple unveils four new iPhone 12 models with 5G: CNBC After Hours

CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, CNBC.com Apple reporter Kif Leswing breaks down the tech giant’s big iPhone 12 reveal, including the implications for the 5G network. Plus, CNBC.com’s Melissa Repko dives into Amazon’s Prime Day event this year, and explains how competitors like Target and Walmart are better positioned than ever to eat (some of) Amazon’s lunch.

Here’s everything Apple just announced at its iPhone 12 event

Apple just wrapped up its big iPhone 12 event, where it announced four new iPhone 12 models, all of which support new faster 5G networks.

It also announced a new smart home speaker, called the HomePod Mini, and some fun accessories for the new iPhones that use magnets to attach to them.

Big-box retailers like Walmart, Target try to beat Amazon on speed by focusing on curbside pickup

As big-box retailers throw their own sales events during Amazon Prime Day, expect to see them tout an asset that the e-commerce giant doesn’t have: numerous stores across the country where customers can quickly retrieve their online purchases.

Buy online, pick up in store options — such as curbside and in-store pickup — have gained popularity during the coronavirus pandemic as a safe, convenient alternative to browsing store aisles.

A 25-year-old man becomes first in the U.S. to contract coronavirus twice, with second infection ‘more severe’

A 25-year-old man in the U.S. state of Nevada has contracted the coronavirus on two separate occasions, a study in the Lancet Infectious Diseases journal showed, with the patient becoming seriously ill following the second infection.

It is the first confirmed case of a U.S. patient becoming re-infected with Covid-19, and the fifth known case reported worldwide.

The resident of Washoe County, who had no known immune disorders or history

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Is the Stock Market Open Today? Here are the Hours for Columbus Day 2020.

Is the Stock Market Open Today? Here are the Hours for Columbus Day 2020.

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Statue of Christopher Columbus at Columbus Circle in Washington, D.C. (MANDEL NGAN/AFP via Getty Images)


AFP via Getty Images

Columbus Day is here. The

S&P 500

index will look to build on two weeks of gains, capped off by its best week since early July.

The S&P 500 and

Dow Jones Industrial Average

rose 3.8% and 3.3% respectively last week. Investors are holding out hope that Democrats and Republicans can reach a deal and get much-needed stimulus for airline workers, small businesses, and those still on unemployment.

Is the Stock Market Open on Columbus Day 2020?

Unlike the U.S. Postal Service, some schools, and your local trash services, the New York Stock Exchange and Nasdaq are open today for Columbus Day. U.S. bond markets, however, are closed for the federal holiday. While you won’t be receiving mail today,

FedEx

and

UPS,

both of which are private businesses, are open on Columbus Day 2020. Most banks are closed today as well since Columbus Day is considered a bank holiday.

Are International Stock Markets Closed Today?

International markets are largely open, although the Toronto Stock Exchange is closed for Thanksgiving in Canada.

Since 1990, the S&P 500 index has averaged a gain of 0.6% on Columbus Day, according to Dow Jones Market Data. The index’s biggest Columbus Day move during that period was in 2008, when it gained about 11.6%, and it’s moved more than 1% on the holiday six times since 1990. The S&P 500 has ticked down slightly the past three Columbus Days.

The stimulus talks have been a bit of a roller coaster, with both sides contributing to on-again-off-again negotiations ahead of a contentious election season and Supreme Court nomination. If that sounds familiar, it may because stocks were reacting similarly around the holiday last year,

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The Fed warned of ‘tragic’ consequences if the US didn’t do more to support its economic recovery. Hours later, Trump killed talks about more stimulus.

The Fed warned of ‘tragic’ consequences if the US didn’t do more to support its economic recovery. Hours later, Trump killed talks about more stimulus.



Donald Trump wearing a suit and tie talking on a cell phone: President Donald Trump and Federal Reserve Chairman Jerome Powell. Reuters


© Reuters
President Donald Trump and Federal Reserve Chairman Jerome Powell. Reuters

  • Federal Reserve Chair Jerome Powell on Tuesday made his most pronounced call yet for additional relief spending, saying that the risks of passing too little stimulus far outweighed the risks of overspending and that a diminished rebound would be “tragic.”
  • Hours later, President Donald Trump said in a tweet that he was abruptly ending stimulus negotiations and that he would enact a spending bill if he is reelected in November.
  • The move shocked investors, economists, and even other Fed officials. With millions of Americans still unemployed, the absence of new government support threatens to curb the already slowing economic recovery.
  • Leaving the economy to move forward without help is like “letting the forest fire just rage,” Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, said on CNBC, adding that the downturn could become “much, much worse.”
  • Some hope remains for near-term aid. Trump tweeted on Tuesday night that he’d still approve standalone measures for emergency airline aid, Paycheck Protection Program funds, and another round of direct payments.
  • Visit Business Insider’s homepage for more stories.

Tuesday morning saw Federal Reserve Chair Jerome Powell make his most pointed call yet for additional relief spending.

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The plea seemed to go unheard, as President Donald Trump said hours later that he was abruptly putting stimulus negotiations on ice. Revived hopes for a new bill were dashed, and investors dumped stocks in preparation for prolonged economic pain.

Experts fear that the absence of a new bill will hinder the US’s economic recovery. With Democrats and Republicans still far from a compromise, Trump’s decision means the nation must push forward without crucial government support.

Powell’s plea and Trump’s surprise tweet

The day began simply enough. Powell gave a

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