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Chapter 1: What is the main topic discussed in this episode?
AI stocks bounce back after last week's sell-off. Plus, a judge strikes down President Trump's $100,000 fee for H-1B visas. And driverless trucks are here, and they're ready to bring you chips and drinks? No one ever drives a C. It's Monday, June 8th. I'm Alex Osola for The Wall Street Journal. This is the p.m. edition of What's News?
The top headlines and business stories that move the world today. First up today, the stock market. Tech stocks made up some ground after big declines last week. The Nasdaq ended up 0.9 percent. An index tracking chip stocks climbed 5.6 percent.
Chapter 2: What are the implications of PepsiCo's driverless trucks for the logistics industry?
Here's a little historical nugget showing that this is a typical pattern. Dow Jones market data shows that, on average, the Nasdaq gains half a percent the day after a drop of 4 percent or more. And the Nasdaq sank 4.2 percent on Friday. Meanwhile, the S&P edged up 0.3 percent and the Dow slid. In other markets news, go Knicks.
As we've discussed on the show and you might have seen pretty much anywhere else, the New York Knicks are in the NBA finals with a current 2-0 series lead. and the only people more excited than fans are investors.
Few professional sports teams are a part of a publicly traded company, but the Knicks are, and shares of their parent company, Madison Square Garden Sports, have more than doubled over the past year. The stock hit a record high of more than $390 a share last week.
There could be a number of reasons for this, but some think Knicks fans are treating MSG Sports like a meme stock and pushing up the price. Today, shares slipped by less than 1%. And on the topic of the Knicks, President Trump plans to attend Game 3 of the finals tonight, and New York City is bracing for extra-heavy security.
In a press conference today, New York Police Commissioner Jessica Tisch said that there's a wide security perimeter around Madison Square Garden, one of the busiest parts of Manhattan, starting this afternoon.
So the message is simple. Celebrate the Knicks, but avoid the MSG area tonight if you do not have tickets for the game or some other valid reason. The president won't be the only politician at MSG tonight.
New York City Mayor Zoran Mamdani said he will also be there. He bought a standing room-only ticket for nearly $1,000. Today at Apple's Developers Conference WWDC, the company showed it's going all in on AI. It demonstrated a new version of its Siri chatbot technology it developed with Google. Siri's more conversational now.
And Apple executives showed Siri AI buying concert tickets, creating plans for events, and identifying and interacting with objects and photos. Apple is adding more generative AI features across its products. Most powerful models will be limited to its most advanced devices, and some functions will require a subscription or come with a limit on how much you can use it each day.
But Apple didn't unveil any shocking or unexpected features today, and its shares closed down 1.9 percent after the presentation. It was also Tim Cook's final time emceeing the event as Apple's CEO.
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