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Apple's Rally Pressures New CEO to Deliver on Foldable iPhone

Apple Inc.'s $570 billion summer surge is saddling new Chief Executive Officer John Ternus with high expectations heading into the company's most anticipated event in years: the unveiling of the foldable iPhone on Wednesday. The stock has rallied 15% since June 25, when the company announced it was raising prices on many of its products, sending the shares to their worst day in more than a year. Since then, a significant chunk of the gains have been driven by excitement about the new lineup of devices, particularly the foldable phone. For more, we speak with Bloomberg Tech host Ed Ludlow in Cupertino.

Read more: Apple's Rally Pressures New CEO to Deliver on Foldable iPhone
Bloomberg
Financial

Meta & Lyft Move Higher, Apple's Foldable iPhone | Stock Movers

On this episode of Stock Movers: - Meta (META) shares are gaining with analysts positive on the Facebook parent after it debuted Muse, an AI assistant. Firms wrote that Meta is well positioned to succeed with the product. - Lyft (LYFT) shares are higher as the ride-hailing company is starting to offer Waymo robotaxi rides in Nashville, marking the second US city where it's providing driverless trips. - Apple (AAPL) shares are on the move ahead of today's product unveil. Apple's stock has rallied 15% since June 25, driven by excitement about the new lineup of devices, particularly the foldable phone.

Read more: Meta & Lyft Move Higher, Apple's Foldable iPhone | Stock Movers
Bloomberg
Financial

Mike Wilson Says Oil Risk to Equities Not Insurmountable

Mike Wilson, chief investment officer and chief US equity strategist at Morgan Stanley, discusses how markets have "digested" multiple risks through the year and says the firm is rotating instead of reducing their overall exposure to equities. Wilson also warns about concerns in the short term for stocks related to crude product prices.

Read more: Mike Wilson Says Oil Risk to Equities Not Insurmountable
Bloomberg
Financial

Franklin Templeton's Johnson Says Cost of Capital to Slow Some Activities

Jenny Johnson, president and CEO at Franklin Templeton Investments, discusses the rising cost of capital and the impact of the AI buildout on private credit and the US economy. Johnson speaks with Bloomberg's Guy Johnson at the IPEM Global conference in Paris, France.

Read more: Franklin Templeton's Johnson Says Cost of Capital to Slow Some Activities
Bloomberg
Financial

More European Savers Should Be Investing: JPMorgan

Savers across Europe and the UK could be getting a better return on their money if they put more of their cash savings into investment accounts says Patrick Thomson, EMEA CEO of JPMorgan Asset Management. This is particularly important given Europe has an ageing population, so citizens will need pensions that last for longer. Thomson spoke to Bloomberg's Francine Lacqua on 'The Pulse'.

Read more: More European Savers Should Be Investing: JPMorgan
Bloomberg
Financial

Bond Yields About Fundamentals, Not Bessent, Says HSBC's Kettner

Max Kettner, chief multi-asset strategist at HSBC Bank, points to US growth and exceptionalism as he makes the case for higher US yields. Kettner says, "at the end of the day, this is fundamentals, this is not about what Scott Bessent wants." He speaks on "Bloomberg Surveillance."

Read more: Bond Yields About Fundamentals, Not Bessent, Says HSBC's Kettner
Bloomberg
Financial

Markets Await Bessent's US Treasury Debt Buyback Details

Market participants will find out Wednesday how far Treasury Secretary Scott Bessent is initially willing to go to restrain US bond yields via an expanded buyback program. The Treasury Department is expected to announce the size of the next day's operation to repurchase outstanding 10-year to 20-year securities. Ven Ram of Bloomberg MLIV has more.

Read more: Markets Await Bessent's US Treasury Debt Buyback Details
Bloomberg
Financial

Ares' Jacobson Says AI Is Fueling a Software Industry Divide

Blair Jacobson, co-president of Ares Management, discusses the outlook for the software industry which came under pressure earlier this year as investors weighed the impact of artificial intelligence on the sector. "The general view was all software will get eaten by AI," Jacobson tells Bloomberg's Guy Johnson from the sidelines of the IPEM conference in Paris. "Seven, eight, nine months later, we've actually seen a bifurcation in that market," he adds.

Read more: Ares' Jacobson Says AI Is Fueling a Software Industry Divide