A New Southwest Air Arrives & US Dollar Dips to 4-Yr Low
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, why did Amazon pay $75 million for the Melania documentary?
Then you won't believe how much money Southwest expects to make off its seating changes. It's Friday, January 30th. Let's ride.
Good morning and happy Friday.
What were Apple's latest earnings and how did they perform?
Major announcement incoming. President Trump said he's going to reveal his pick to become the next Fed chair this morning. And all signs indicate it's going to be Kevin Warsh. Warsh is a former Fed governor who was actually passed over for the job in 2017 by the current Fed chair, Jerome Powell. He's known for his previously hawkish views on inflation, which means he supported higher interest rates, though in recent months he's publicly called for lower rates, likely a key factor in securing Trump's support. If nominated and confirmed, he'll take over for Powell, whose terms ends in May.
How did the market react to this breaking news? The stocks fell, treasury yields rose, and the dollar also rose. The trades basically reflected speculation that Warsh is going to be a little less enthusiastic to cut rates than maybe other candidates would have been. But as you said, that tune changed of late. So then it leads to some questions about is he driven by data or is he driven by who's in the presidency? Because if you change your tune after many years of being frustrated hawkish on monetary policy to suddenly being dovish and much more amenable to rate cuts, then you're saying, what do you actually stand for, dude? But the market's kind of trading on what the body of his career work has been rather than his recent change to being more open to rate cuts.
We'll see. Anyway, you never know with Trump. He actually could change his mind as of this morning, but it's looking like goodbye, J-POW, and hello, wars. And now a word from our sponsor, Sandals.
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There is no better place to experience the Caribbean than at resorts founded by a family from the Caribbean. The winter blue sail is now on, so visit sandals.com for the best all-inclusive value in the Caribbean. That's sandals.com. Apple still hasn't figured out its AI strategy, but you know what's better than AI? An iPhone. And they sold a lot of them last quarter. Reporting earnings yesterday, Apple notched its biggest sales jump in four years, a result Tim Cook called staggering. While everyone else in the big tech world was plowing money into AI buildouts, Apple pulled in $143 billion, up 16% from a year ago. and a record for the company. The profitability stood out too. Apple posted net income of $42 billion, the most money ever made in a single quarter by any public company ever.
It did it thanks to Old Faithful. iPhone revenue surged 23% as people took a liking to the 17th edition of the best-selling product ever. The strong results also stand out even more when considering, A, everyone and their mother is trying to kill the iPhone right now with some AI gadget of their own. And B, software-focused companies are getting demolished right now as the market scrutinizes all the money they are spending. The one sneaky surprise from Apple was an announcement before earnings. It acquired a startup called Q.AI for $2 billion, which helps devices to interpret whispered speech and enhanced audio in noisy environments per TechCrunch.
you know apple's earnings feel a lot different than the rest of the big tech world tim cook just bought himself a lot of time we know that apple's transition to ai or its investments in ai have not gone as well as the rest of the industry siri is still a debacle and so the pressure was on tim cook to deliver a very solid quarter and he did so now apple has a lot of money and a lot of resources thanks to this booming iphone sales to throw at ai and they can do it over a longer time horizon
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