Doug Krisner

The head of the Chicago Fed, Austin Goolsbee, says inflation is still too high and it's trending in the wrong way.

That is Austin Goolsbee, head of the Chicago Fed, speaking on CNBC.

Now, analysts are saying the most recent PCE reading reinforces the view that the Fed's next move is more likely a rate hike than a cut.

Apple is boosting prices on Macs and iPads by about 20%.

The company is looking to offset increased costs due to a shortage of memory chips and storage.

Bloomberg's Mark Gurman calls the move unprecedented.

That is Bloomberg's Mark Gurman, and he went on to say that iPhones appear to be spared from these price hikes.

Shares in Apple were down today by more than 6%.

And Microsoft is being impacted by higher cost for components as well.

It's the reason why the company announced a third substantial price increase for its current generation of Xbox video game consoles.

Today, Microsoft shares were down 3.5%.

OpenAI is reportedly leaning toward holding off on its IPO until next year.

The New York Times reports bankers for OpenAI say recent volatility in tech stocks and in SpaceX shares in particular, after its record IPO, could dampen enthusiasm from retail investors for OpenAI's initial public offering.

Bloomberg's Romain Bostic says waiting may be a smart move if the company wants to maximize its value.

That is Bloomberg's Romain Bostic.

He went on to say that OpenAI CEO Sam Altman views a potential valuation under a trillion dollars as a non-starter.

And that is news when you want it.

With Bloomberg News Now, I'm Doug Krisner and this is Bloomberg.

News when you want it.

With Bloomberg News Now, I'm Doug Krisner.