Stories by Dion Rabouin

Apple shakes off its critics as stock hits 52-week high

Apple storefront in Hong Kong
Photo: Philip Fong/AFP via Getty Images

Apple's stock rose 1.35% Thursday, more than doubling gains by the S&P 500 and the Nasdaq and touching a 52-week high.

Driving the news: The strong gains came despite criticism of the company for pulling apps from its store in recent days to appease Chinese authorities.

Investors sell stocks and hide cash in money market funds

Data: Investment Company Institute; Chart: Andrew Witherspoon/Axios

Investors moved an additional $20.2 billion into money market funds last week, while pulling $13.8 billion out of equity funds, data from the Investment Company Institute shows.

Why it matters: The increased desire for money market funds, which are ostensibly savings accounts, has come as yields on the 10-year Treasury note fell from 2.51% on April 3 to 1.59% on Oct. 2, showing it's fear rather than greed driving fund flows.

A synchronized global slowdown

Data: IMF, IIF, OECD and World Bank; Chart: Axios Visuals

The Institute of International Finance on Thursday lowered its growth forecast for 2019, the latest in a series of downward revisions from international economic organizations since the beginning of last year.

The big picture: "The global economy is now in a synchronized slowdown," incoming IMF managing director Kristalina Georgieva said at a recent news conference.