Apple's Overhaul, Jack Smith Defends Trump Probe, More
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What is the main topic discussed in this episode?
Hi, I'm Carol Masser with a helpful tip to keep you plugged in throughout the market day. Subscribe to the Stock Movers Report from Bloomberg. These are short audio episodes, five minutes or less, delivered right to your podcast feed. Stock Movers fills you in on the day's winners and losers on Wall Street and tells you about the news and data that's driving those gains and losses. Why spend all day watching tickers scroll across your screen? Subscribe to Stock Movers today. On Apple, Spotify, or anywhere else you listen.
How is Apple’s new CEO overhauling the company to accelerate product development?
News when you want it with Bloomberg News Now, I'm Amy Morris. Apple CEO John Turnus is moving to overhaul the company to accelerate product development and create a leaner organization with a greater focus on engineering. Bloomberg's Ed Ludlow.
Some of the basics are uh going away or moving away from a full and spring release uh cadence, having more rapid uh product uh launches, cut middle management positions, layoffs as part of a cost reduction program.
Bloomberg's Ed Ludlow, Apple CEO Turnus is also seeking new sources of revenue while generating more money from existing products. Apple shares more than two percent lower.
What did Jack Smith tell senators about his investigation of Donald Trump?
On Capitol Hill, the former US prosecutor who secured indictments against Donald Trump clashed with Republican senators during a Senate judiciary committee hearing. Special counsel Jack Smith defended the integrity of his investigations and said career prosecutors who worked on those cases have been illegally fired. He swears President Trump committed serious crimes against the country.
Rather than accept his defeat in the 2020 presidential election, President Trump engaged in a criminal scheme to overturn the results and prevent the lawful transfer of power.
Republicans charged that special counsel Jack Smith had political motives to go after Trump and the Republican Party.
How are oil prices, Treasury yields, and inflation concerns moving markets?
Oil prices are lower as Saudi Arabia resumed flows through a key pipeline, and the US has just announced it will release up to forty million barrels from the Strategic Petroleum Reserve, pushing the reserve down to its lowest level since nineteen eighty two. WTI now just topping $90 a barrel and Brent Crude nearing $104 a barrel. That did not allay Wall Street concerns about higher inflation and Fed rate hikes. We check markets for you all day long here at Bloomberg. The SP 500 down three-tenths of a percent, NASDAQ down a tenth of a percent, the Dow down six-tenths of one percent. The 10-year Treasury yield at 5.27%, and the two-year yield at $200. Yield at four point nine two percent. Thirty-year treasury yield now at five point six percent.
Edward Yardeny is president at Yardeni Research. He says bond yields could keep going higher.
I'm increasingly wondering whether the unwind of the yield curve trade is uh a big problem here. This might be the revenge of the bond vigilantes. Now that they've been sort of liberated and free to express an opinion, uh they're saying, Well, you know, you accumulated all that debt uh at near zero interest rates back then, now you're gonna have to refinance it at these yields and that's that that's uh concerning.
Edward Yardeni was on Bloomberg surveillance.
What do falling consumer confidence and job openings signal about the U.S. economy?
Consumer confidence in the U.S. fell in September to its lowest level since 2014 as pessimism grew about the economy and the labor market. The conference board's gauge of confidence decreased 6.7 points, landing at 81.9. That was after a downward revision to the prior month. An indicator of present conditions also dropped nearly eight points, and a measure of expectation. For the next six months also fell. Job openings in the U.S. fell in August. The Bureau of Labor Statistics says available positions fell to 7.1 million, down from 7.3 million in July. The data suggest employers are more cautious about expanding their workforces while layoffs remain low.
What are the Pentagon’s planned leadership cuts and banks’ AI security concerns?
Positions reserved for generals and admirals. Fox News reports Hegseth is expected to announce the plan in his state of the force address tomorrow. Army, Navy, and Air Force, and the military's joint pool will be directed to execute the plans in full by January 1st.
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Chapters
7 chapters
1
What is the main topic discussed in this episode?
0:01–0:30
2
How is Apple’s new CEO overhauling the company to accelerate product development?
0:30–1:07
3
What did Jack Smith tell senators about his investigation of Donald Trump?
1:07–1:57
4
How are oil prices, Treasury yields, and inflation concerns moving markets?
1:57–3:16
5
What do falling consumer confidence and job openings signal about the U.S. economy?
3:16–4:03
6
What are the Pentagon’s planned leadership cuts and banks’ AI security concerns?
4:03–4:37
7
How are AI growth, IPO uncertainty, and media deals shaping the business news?
4:37–7:11
Speakers
6 identifiedMore from Bloomberg News Now
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