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Apple faces deceleration in China. Traders bet on BOE easing. US mortgage rates fall. Here’s what you need to know today.

Apple Inc. sales declined for a fourth quarter, the longest slowdown since 2001, as the company struggles with sluggish demand and a shaky smartphone market in China. The results suggest that Apple is facing a bigger slowdown in China than feared. The government there has imposed iPhone bans in some workplaces, and a new phone from Huawei Technologies Co. is providing fresh competition. Before Apple reported, the S&P 500 gained almost 2% for its best session since April. Investor focus is now likely to turn to the US jobs report, which is predicted to show monthly payroll growth slowing to 180,000 from 336,000.