Here are the top news stories that investors need to know before they begin their trading day:
1. Tech snooze
The technological recovery was brief. Tuesday saw a 1% decline in the tech-heavy Nasdaq Composite as other cloud firms also declined and Oracle shares tumbled 13.5%. During the decline, Oracle experienced its worst day in more than 20 years, making it the poorest stock in the S&P 500. With daily declines of 1.7% and over 4%, respectively, Apple and Adobe were also down.
2. New iPhone models
They are here. At an event on Tuesday, Apple unveiled the eagerly awaited iPhone 15 and iPhone 15 Plus. The higher-end iPhone 15 Pro and Pro Max, which are now manufactured with titanium, start at $999 whereas those variants start at $799. All of them will have a USB-C charging connector, replacing the company’s exclusive Lightning charging cables used by existing iPhones with a more versatile charger. The tech behemoth also unveiled a brand-new Apple Watch with a battery life of 72 hours and a 95% titanium construction, as well as redesigned AirPods with a USB-C connector.
3. A boost is necessary
Within a few days, updated Covid shots will be accessible. The new vaccinations from Pfizer and Moderna are advised for all Americans aged 6 months and older, according to the Centres for Disease Control and Prevention on Tuesday.
4. BP CEO
After less than four years in the position, BP Chief Executive Officer Bernard Looney announced his resignation. The business claimed he wasn’t “completely honest in his earlier disclosures” regarding his interactions with coworkers before taking the helm as CEO. Although prior reviews of his contacts did not uncover any violations of company policy, BP stated that additional reviews are still being conducted. When the stock of energy businesses fell at the beginning of the Covid-19 epidemic, Looney assumed leadership. BP, a London-based company, had a 1.3% decline in its U.S.-listed shares on Tuesday after rising as high as 2.9% earlier in the day.
4. Conference in Russia
On Wednesday, Russian President Vladimir Putin and North Korean leader Kim Jong Un had a two-hour meeting at a space rocket launch facility in Russia’s far east. Little is known about the subjects they covered in their one-on-one encounter, but it was anticipated that they would talk about arms control, international relations, commerce, and economic relationships.
Source (CNBC)