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Stocks mixed, Saudi Royals ruling, Virtual Fashion Week

NEW YORK (AP) — Stocks ended with meager gains on Wall Street today following another rocky day of sharp swings. The S&P climbed 1.78, or 0.1%, to 3,340.97, 0.1% but still ended with its second weekly loss in a row. The Nasdaq composite, which includes many of the superstar tech stocks that have been the focus of the market’s recent selling, lost 66.05, or 0.6%, to 10,853.55 after also flip-flopping between gains and losses. The Dow rose 131.06, or 0.5%, to 27,665.64, but not before careening between a gain of 294 points and a loss of 86 points.

NEW YORK (AP) — Analysts expect swings to continue to rattle markets for weeks, if not months, as investors wait for more clarity on several key issues. At the head of the list of uncertainties is what to do with Big Tech stocks, which critics have long said were due for a slide after soaring too high through the summer. Apple, Amazon and others soared through the pandemic as their businesses boomed despite the recession. The coronavirus accelerated a shift to online life that’s benefited them, and a pile-on of investors into Big Tech sent their share prices soaring to levels that critics said were overvalued.

NEW YORK (AP) — A judge has ruled that two members of the royal family in Saudi Arabia will have to answer questions about who planned the Sept. 11 terror attacks in what lawyers for victims call a turning point in a long-running lawsuit. A U.S. Magistrate Judge has ordered Saudi Arabia to make the pair and other Saudi witnesses available for depositions in the suit brought by victims seeking billions of dollars in damages. The ruling was unsealed late Thursday. A lawyer for Saudi Arabia declined to comment Friday. Court papers say the members of the royal family include Prince Bandar bin Sultan.

NEW YORK (AP) — New York Fashion Week, the semi-annual showcase of American fashion, gets under way Sunday evening in a vastly changed landscape. Designers, like so many, are suffering economically and uncertain when, if ever, things will return to normal. This year the display is virtually all virtual: Just a few designers are showing live, with heavy restrictions, and the rest are offering “digital activations.” There will be no celebs packing front rows, no stiletto-heeled crowds. Still, Steven Kolb, chief executive of the Council of American Fashion Designers, says it’s important to move forward, for the sake of economic survival. Kolb says“Fashion is a business”.

ATLANTIC CITY, N. J. (AP)— A federal judge has ordered a New Jersey casino executive who left Atlantic City’s top casino to work for a competitor to return a cell phone laden with valuable information on his previous employer’s highest rollers and best customers. A Judge issued a temporary restraining order today preventing two executives who left the Borgata casino this summer to work for the Ocean Casino Resort from contacting any past, current or prospective Borgata customers. The Judge also told them not to use any Borgata trade secrets or pass along to the Ocean Casino. But the judge did not order the two executives removed from their new jobs at Ocean.

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