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CONWAY GITTINS: I’m Conway Gittins, a reporter from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The Dow Jones Industrial Average hit a new record closing high. Investors are watching oil prices rise after tensions in the Middle East flared over the weekend. Prolonged high energy prices could hamper the Federal Reserve’s plan to cut interest rates.
Investors will digest new home price data and the latest consumer confidence reading on Tuesday.
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Moving on to other news: Apple fans rejoice – the tech giant has set September 9 as the date for a new series of devices and updates. The invitations simply said, “It’s time to glow.”
There’s high expectations to see how artificial intelligence — or Apple Intelligence, as the company calls it — is integrated into the Apple ecosystem. The company has lagged behind many of its peers by not fully unleashing the power of AI. However, analysts expect that to change with what’s being called the biggest software upgrade ever for an iPhone.
So what else is likely to be announced? Along with an AI-inspired update to the iPhone 16 lineup, AI updates are expected to be announced for the Apple Watch and AirPods. There are also rumors of some weird new colors due to the colorful glow effect on the invitation. And that’s just the hardware part. There will likely be AI upgrades to all of Apple’s operating systems as well. Additionally, there are high hopes that Siri will get the full AI treatment.
All of this comes at a crucial time for Apple. Global iPhone sales fell last quarter due to a weak market in China. That single device accounts for half of Apple’s total revenue.
That’s all for your daily briefing. From the New York Stock Exchange, I’m Conway Gittins on The Street.
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