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Gold Futures Settle At Near 3-week High

5G is the future. But it's not really here yet

New York (CNN Business)Samsung will soon reveal its new Galaxy phones, and they are likely called the Samsung Galaxy S20, S20+, with a potential third phone being the premium, higher-end option.

Samsung appears to have skipped a bunch of numbers since its last smartphone launch. S10, S10+ and Note 10 were some of last year’s phones. The names of the S20 and S20+ were confirmed in certificate listings on a Thai government website.
Samsung might also unveil a second foldable phone. In October, Samsung teased a mobile device with a “clamshell” form factor. Last year’s original Galaxy Fold had a tough initial launch following multiple defective review units.

    Samsung did not immediately return a request for comment. The company is holding an official keynote on February 11th in San Francisco where it will unveil new devices.
    Numerous leaks have circulated online about the phones, saying the new phones have 3-4 rear cameras and bigger screens and batteries. A third phone is rumored to be called the S20 Ultra.

      The pressure could be on for Samsung, which faces many global rivals including Apple, Huawei, Oppo and others.
      “The company needs to hold its position in the challenging premium segment,” Gerrit Schneemann, senior analyst of mobile handsets at IHS Markit, told CNN Business, “A new generation of stand-out flagships is needed for Samsung to fend off the competition.”

      Taco Bell owner Yum Brands raises dividend

      Yum Brands Inc. YUM, -0.94% said late Friday its board of directors declared a dividend of 47 cents a share, an increase of 12%. The dividend will be paid March 6 to shareholders of record on Feb. 14, the fast-food chain said. Shares of Yum were flat in the extended session after ending the regular trading day down 0.9%.

      First Treatment Option Approved For Patients With Epithelioid Sarcoma

      The U.S. Food and Drug Administration has granted accelerated approval to Tazverik for the treatment of adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection.

      Epithelioid sarcoma is a rare sub-type of soft tissue sarcoma that often occurs in young adults.

      “Epithelioid sarcoma accounts for less than one percent of all soft tissue sarcomas,” said Richard Pazdur, M.D., director of the FDA’s Oncology Center of Excellence and acting director of the Office of Oncologic Diseases in the FDA’s Center for Drug Evaluation and Research. “Until today, there were no treatment options specifically for patients with epithelioid sarcoma. The approval of Tazverik provides a treatment option that specifically targets this disease. When we brought Tazverik’s application to the Oncologic Drugs Advisory Committee last month, the committee voted unanimously that the benefits of the drug outweighed the risks.”

      Tazverik blocks activity of the EZH2 methyltransferase, which may help keep the cancer cells from growing. Most cases of epithelioid sarcoma begin in the soft tissue under the skin of an extremity, though it can start in other areas of the body.

      Tazverik’s approval was based on the results of a clinical trial enrolling 62 patients with metastatic or locally advanced epithelioid sarcoma.

      Crude Oil Futures Settle Sharply Lower

      Crude oil prices drifted lower on Friday, extending recent losses, amid rising concerns about the outlook for energy demand and excess supply in the market.

      Earlier in the day, the World Health Organization’s determination that it is too early to declare the Chinese coronavirus outbreak a Public Health Emergency of International Concern, limited oil’s decline.

      But prices edged lower subsequently as worries about the impact of coronavirus resurfaced, raising concerns about the outlook for near-term energy demand.

      West Texas Intermediate Crude oil futures for March ended down $1.40, or about 2.5%, at $54.19 a barrel.

      WTI crude oil futures shed about 7.5% in the week, the biggest weekly loss since falling almost 9% in the last week of May 2019.

      The Center for Disease Control and Prevention confirmed the second case of the virus in the U.S.

      The CDC said the patient, a woman in her 60s, recently returned from a trip to Wuhan, China, and is currently doing well and in stable condition.

      The public health agency said another sixty three patients in twenty-two states are being monitored for signs of infection.

      Meanwhile, according to reports, China has restricted movement of close to 46 million people in and out of cities near the center of the coronavirus outbreak. The country has also canceled Lunar New Year events as the number of infected cases is on the rise.

      It is feared that a slowing Chinese economy might significantly impact energy demand as the world’s second largest economy is the largest crude oil importer.

      Gold Futures Settle At Near 3-week High

      Gold prices moved higher on Friday as investors sought the safe-haven asset amid mounting fears about the coronavirus outbreak.

      However, a firm dollar limited gold’s gains. The dollar index, which rose to 97.95, was last seen at 97.86, up 0.18% from previous close.

      Gold futures for February ended up $6.50, or about 0.4%, at $1,571.90 an ounce, the highest settlement since January 7.

      On Thursday, gold futures for February ended up $8.70, or about 0.6%, at $1,565.40 an ounce.

      Silver futures for March ended up $0.284 at $18.113 an ounce, while Copper futures for March settled at $2.6840 per pound, down $0.0420 from previous close.

      Gold prices edged lower earlier in the day, reacting to World Health Organization’s determination that it is too early to declare the Chinese coronavirus outbreak a Public Health Emergency of International Concern.

      However, prices rebounded as fears about coronavirus outbreak resurfaced after the Centers for Disease Control and Prevention confirmed the second case of the virus in the U.S.

      The CDC said the patient, a woman in her 60s, recently returned from a trip to Wuhan, China, and is currently doing well and in stable condition.

      The public health agency said another sixty-three patients in twenty-two states are being monitored for signs of infection.

      Meanwhile, according to reports, China has restricted movement of close to 46 million people in and out of cities near the center of the coronavirus outbreak. The country has also canceled Lunar New Year events as the number of infected cases is on the rise.