Ticker: Apple loses latest bid to avert patent dispute; Wall Street bounces back
Apple on Thursday stopped online sales of two popular models of its internet-connected watch in the U.S. after losing its latest attempt to untangle a patent dispute.
Both the Apple Watch Series 9 and Ultra 2 became unavailable to order online beginning at 3 p.m. ET, as the company followed through on its plan to suspend sales of them because of a legal battle over an intellectual property claim filed by medical technology company Masimo.
The International Trade Commission rejected Apple’s bid to get around a late October order blocking the company from using some of technology underlying the Blood Oxygen measurement feature on the Series 9 and Ultra 2 watches.
Wall Street bounces back
Wall Street rebounded Thursday to claw back most of its sharp drop from the prior day, which was its first big step backward since a rally began in late October.
The S&P 500 climbed 1% and is back within 1% of its all-time high, a day after its worst tumble in nearly three months. The Dow Jones Industrial Average rose 322 points, or 0.9%, and came close to setting a record for the sixth time in the last seven days. The Nasdaq composite jumped 1.3%.
Flight cancellations drop
So far this year, airlines have canceled 1.2% of U.S. flights, down nearly half from 2.1% over the same period last year.
“I don’t want to jinx us, but so far 2023 has seen the lowest cancellation rate in the last five years,” Transportation Secretary Pete Buttigieg said Tuesday. He added, however, that winter weather “will certainly be a challenge in the next few weeks.”