(Justin Sullivan/Getty Images) |
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The sequel no one asked for: Billy McFarland’s planning another Fyre Fest after the music bash failed epically in 2017. Details of Fyre II are unconfirmed, but McFarland said he’s sold 100 presale VIP tickets. Hopefully that gets buyers more than a sad cheese sandwich.
Stocks rallied yesterday as traders looked ahead to the Fed’s rate decision next week. Key inflation #s are due tomorrow, and Thursday could influence bets on the size of the central bank’s anticipated slash. After news that unemployment fell in August, traders were betting on a smaller cut. |
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“A shrimp in a cowboy hat”.... Apple demoed generative-AI emojis (“genmojis”) and other AI-infused updates at its launch event yesterday. The headliner was the iPhone 16, Apple’s first phone designed for generative AI. It’s powered by Apple Intelligence, introduced in June. Several AI functions (including image-generation) are pre-downloaded on the phone, so you can use them offline. Some highlights:
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- “Visual Intelligence”: Think Google Lens but built into the hardware. Apple added a camera-activating button on the iPhone 16 that lets you get more info on things you see (point it at a restaurant for hours and reviews, or at a dog to identify the breed).
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GenAI rewrites: Apple said its AI tools could help you rewrite, proofread, and summarize text in most apps, from Goodreads to iMessage (change the tone of a breakup text).
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Better Siri: Apple said its assistant is better at understanding your commands (its one job) and will let you type requests. Siri can pull info from different apps to better answer your q’s (like finding your mom’s flight info in your texts).
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CGP-bestie: Apple teamed up with OpenAI to allow tools like Siri to tap into ChatGPT. For queries that CGPT’s better suited to answer, Siri will ask users for their consent to pass the baton.
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The Apple of my AI… As hardware demand slows, Apple and other techies are turning to AI to juice device sales. Apple’s sales have fallen for five of the past six quarters as demand sagged for iPhones (which make up nearly half its revenue). In May, Apple reported that phone sales were down 10% — the biggest drop since 2020 — and continued to fall last quarter. |
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It’s the law of diminishing (consumer) returns… and Apple’s trying to beat it. Since the iPhone was introduced in 2007, the tech has evolved so much that today it's hard to get folks to shell out more $$ for a marginally better version. There are only so many times you can upgrade a camera (though Apple said the two-lens iPhone 16 has the equivalent of four lenses). Apple’s hoping AI will drive upgrades, but it’s TBD if consumers will buy it. |
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The Nasdaq-100Ⓡ Index is yours to use. |
You’ve got options… From Apple to Microsoft, tracking the Nasdaq-100 through Nasdaq-100 Micro Index Options (XND) offers investors flexibility and exposure to the performance of some of the world’s most innovative non-financial companies.
Micro but mighty… XND is based on 1/100th (1%) the full value of the Nasdaq-100 Index (NDX). XND index options offer monthly and weekly PM settlement, providing a manageable way to hedge or gain NDX exposure.
Settle up… XND options are European style — they can only be exercised at expiration, reducing the early assignment risk taken on by sellers. Upon expiration, an in-the-money XND option settles to cash in your account. All options are subject to taxes, but as index options, they benefit from a more favorable tax treatment.
Get a full view of Nasdaq-100 Micro Index Options here.* |
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Cabin pressure… Raise a cup of in-flight ginger ale for Boeing, which just got its first good news of the year. On Sunday it reached a tentative deal with unions representing 33K workers who build commercial planes, likely avoiding a strike that could’ve started this week. If approved by union members, it would mark the first new contract agreement between Boeing and the unions since 2008. The company’s shares rose 3% yesterday.
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- Not landed yet: A strike is still possible, though it would require a majority of workers rejecting the deal and again authorizing a strike. Union leaders have urged members to OK the agreement.
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Add-ons: Workers — many of whom live around Seattle — would get a 25% raise over four years and a promise from Boeing to build its next commercial plane in the region.
- 737Next: Boeing and rival Airbus are both said to be planning their next jets, which are expected to roll out in a decade or so.
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Labor’s boarding… Aerospace and airline unions have been spreading their wings. Last year 6K workers reached a deal with Spirit AeroSystems (a major plane-parts supplier that Boeing is reacquiring) after a six-day strike. Airlines that use Boeing’s planes have also faced union strife: thousands of Southwest flight attendants reached a deal to avert a strike this year. But other contracts — including for 7K Alaska Air, 28K American Airlines, and 28K United Airlines cabin-crew members — are still up in the air.
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When you have 99 problems, don’t add one… Boeing’s dealing with regulatory scrutiny and investigations over its 737 Max crises, airline distrust caused by extensive jet-delivery delays, and plunging shares. It’s lost nearly $28B since 2019 (when two 737 Maxes crashed), while rival Airbus has widened its delivery lead. It’s probably why Boeing was open to 25% raises to avert a strike.
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The so-called loneliness epidemic is a much larger problem than an app can possibly fix. Read more. |
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DirecTV filed an FCC compliant against Disney, accusing it of bad-faith negotiations. It’s the second week DirecTV hasn’t had Disney’s channels (including ABC for tonight’s presidential debate).
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A Google antitrust case began yesterday, with the DOJ aiming to show the biz stifled ad-tech competition.
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OnlyFans’ owner scored a $472M dividend last year as the NSFW site’s subscriptions jumped ~30%.
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Traders pulled out $1.2B from 12 US bitcoin exchange-traded funds, the longest run of net outflows for the crypto ETFs.
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Big Lots filed for bankruptcy and agreed to sell its biz to private equity.
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Fill in the headline: ______ is the worst performing stock in the S&P 500 this year. (Answer here.) |
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US presidential debate
- UN General Assembly opens
- Guinness World Records 2025 published
- Earnings expected from GameStop, Dave & Buster’s, Petco Health and Wellness Co., and Academy Sports + Outdoors
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Authors of this Snacks own bitcoin and shares of: Alaska Air, Alphabet, Apple, and Disney
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
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