Stocks Point Higher Despite Retailers' Holiday Caution; Gap Tops Estimates But Sees Flat Sales; Apple to Adopt RCS Texting; Alibaba Drops on Halted Cloud Spin-Off
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U.S. stock futures point higher following mixed trading on Wall Street; Gap's earnings top estimates but the retailer joins Target and Walmart in being cautious about holiday spending.
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Gap's quarterly profit surpassed expectations but the company warned sales may be flat to slightly negative in the holiday quarter.
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Apple says it plans to adopt the RCS messaging standard in 2023, improving texting between iPhones and Androids.
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Alibaba shares plunge after the company shelves the planned spin-off of its cloud unit due to U.S. chip export controls on China.
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Oil prices edge up but remain on track for a 4th straight weekly loss on worries about rising supply and slowing demand.