Stock Markets Today: Apple, November US rate cut, SocGen, Sunak

Good morning. Apple delivered better-than-expected earnings, and the UK’s Labour opposition takes a key seat from the Tories. And despite Larry Fink’s admiration, even Australia can’t evade a retirement crisis. Here’s what people are talking about.

Apple shares jumped in late trading after the company posted stronger-than-expected sales and predicted a return to growth, sparking optimism its slowdown is easing. Apple’s sales declined in five of the past six quarters, hurt by a sluggish smartphone market and headwinds in China. The company also announced the biggest US buyback ever, an additional $110 billion in share repurchases. The maker of iPhones topped its own record for the largest such return of cash to US shareholders, set in 2018 when it authorized $100 billion, according to data compiled by market research firm Birinyi Associates that goes back to 1999. All told, Apple is responsible for the top six of the 10 largest share-repurchase announcements ever made in the country.

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