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Microsoft Lawsuit, Market Upheaval, Apple Watch Changes
Just reporting the facts.
Centrist Chronicle
December 29, 2023
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In a recent diplomatic visit, U.S. State Secretary Antony Blinken and Homeland Security Chief Alejandro Mayorkas visited Mexico City for discussions with Mexican President Andrés Manuel López Obrador. The primary focus of their meeting was the unprecedented influx of migrants traveling through Mexico to the U.S. border.
Recent statistics from border authorities show a significant rise in migrant encounters, with figures exceeding 240,000 in both October and November. This increase marks a notable surge beyond the post-pandemic numbers observed in the last three years and significantly surpasses the average of 130,000 encounters per month recorded in the 1980s and 1990s. Interestingly, only about 25% of these migrants are from Mexico, and over half are identified as single adults.
The timing of these high-level discussions is crucial, as a large migrant caravan commenced its journey northward from the southern regions of Mexico last Sunday. This group, comprising approximately 8,000 individuals from 24 different nationalities, represents about 3% of the total number of migrants encountered at the border last month.
A significant portion of these migrants aims to seek asylum in the United States. Despite the low approval rate for such applications, the backlog in processing these cases has swelled to nearly 2 million, indicating a pressing challenge for U.S. immigration services.
On Wednesday, stock markets concluded the trading session on a positive note, closely monitoring the S&P 500's journey as it neared record-breaking levels.
The S&P 500 experienced a slight increase of 0.14%, closing at 4,781.58. Meanwhile, the Nasdaq Composite witnessed a modest gain of 0.16%, ending the day at 15,099.18. The Dow Jones Industrial Average also saw upward movement, climbing 111.19 points, or 0.3%, to settle at 37,656.52.
Marking a new closing high, the Dow outperformed, while the S&P 500 ended the day just under 0.5% shy of its record close of 4,796.56, achieved in January 2022. This upward trend isn't isolated to the Dow and Nasdaq; the S&P 500 is currently on an eight-week winning run, its longest since 2017.
Apple has successfully obtained a temporary suspension of the sales ban on the Apple Watch, which was initially imposed on Tuesday. As a result, sales will recommence in Apple's physical retail outlets starting today (Wednesday) and will be available on Apple's official website by 3 PM Eastern Time / 12 PM Pacific Time on Thursday, December 28th. This development follows a decision by a federal appeals court to temporarily halt the ban on importing and selling the product. The court's decision comes in response to Apple's request for a suspension, at least until the US Customs and Border Protection can evaluate whether the modifications Apple is implementing in the Apple Watch are sufficient to sidestep the patent infringement issues that triggered the ban. A determination from Customs is anticipated by January 12th.
The latest court ruling permits Apple to temporarily resume sales of its latest models, the Apple Watch Series 9 and the Apple Watch Ultra 2. Both models were removed from Apple's website and retail locations earlier, in compliance with the initial ban.