Here are the key headlines that should capture the attention of investors at the outset of their trading day:
1. Tech Sector Fall Down
The tech sector’s short-term recovery was short-lived. The tech-heavy Nasdaq Composite fell 1% on Tuesday, driven by a 13.5% decline in Oracle shares and declines in other cloud stocks.
Oracle, was the S&P 500’s best-performing company after its worst day in more than two decades. Elsewhere, shares of Apple and Adobe fell 1.7% and almost 4%, respectively. The broader market also faced challenges, with the S&P 500 falling 0.6% and the Dow Jones Industrial Average index flat.
Wall Street’s focus now shifts to the August Consumer Price Index report, due out Wednesday morning, as it will provide more information on current inflation. Please stay tuned for updates in the store.
2. New iPhone
It’s time. On Tuesday, Apple introduced the highly anticipated iPhone 15 and iPhone 15 Plus. The smartphones start at $799 for the base model, while the high-end iPhone 15 Pro and Pro Max made of titanium start at $999. A key change across all models is the adoption of a USB-C charging port. The Lightning charging cable concept found in current iPhones is moving to a universal charging model.
In addition to the iPhone, the technology giant also announced the new Apple Watch, which is made of 95% titanium and has a battery life of up to 72 hours. In addition to this announcement, Apple will also update the AirPods series to include a USB-C port in the new model.
3. Time to step up
A better vaccine against COVID-19 is coming soon. On Tuesday, the Centers for Disease Control and Prevention (CDC) recommended that everyone 6 months and older get the new Pfizer and Moderna vaccines.
The recommendation from an independent advisory group to the CDC coincides with the U.S. Food and Drug Administration’s approval of two anti-mRNA drugs. The vaccine is specifically designed to protect against the subomicron variant XBB.1.5.
This development comes as hospitalizations for COVID-19 increased for a seventh consecutive week, but are still below the nationwide increase the CDC reported in the summer of 2022
4. BP CEO
Bernard Looney, a At the time, BP’s CEO resigned after less than four years. The company has said in the past that he did not fully disclose his relationship with colleagues before he became CEO. Although the initial investigation did not reveal any violations of company policy regarding the relationship, BP said a new investigation is now ongoing.
Looney took on the leadership role amid the COVID-19 pandemic, which came as the energy company’s stock market suffered a downturn. US-listed shares of London-based BP started Tuesday’s trading with a 2.9% increase. The meeting took place, but then fell 1.3%.
5. Meeting in Russia
Russian, President Vladimir Putin and North Korean leader Kim Jong Un met for a two-hour meeting at the rocket station in the Russian Far East on Wednesday. met for a meeting. Specific details of their one-on-one meeting are scarce, but the agenda is expected to cover many issues, including bilateral cooperation, trade and commerce, international trade and weapons-related issues.
Kim Jong Un and Putin in a press statement in China He praised cooperation and spoke of unity. But Western leaders and experts worry that Kim Jong Un and Putin may discuss North Korea supplying Russia with weapons that could join the conflict in Ukraine. It may also be possible for Moscow to supply weapons to Russia, which is subject to heavy sanctions. More importantly, the two countries refused to participate in arms negotiations.
Summary
In brief, today’s headlines include a tech sector setback, the launch of Apple’s iPhone 15 series, upgraded COVID vaccines, BP CEO Bernard Looney’s resignation amid investigations, and a meeting between Kim Jong Un and Vladimir Putin with concerns over arms talks. Investors should stay tuned for more developments.
