TheStreet’s J.D. Durkin brings you the biggest news of the day, including a look ahead to the Fed’s two-day meeting and a recap of Apple’s “Scary Fast” event.
Category
🥇
SportsTranscript
00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange and here is a look at what we are watching on the
00:05 street today. Investors are bracing for a big week here on Wall Street.
00:09 The two-day Federal Reserve meeting kicks off today with an interest rate decision due out Wednesday.
00:14 We've got Apple earnings out the following day Thursday and of course October jobs report on Friday morning.
00:20 Traders are hoping that Friday's report will show at least a bit of slowdown in the US labor market.
00:25 As far as the central bank goes, Wall Street is largely expecting the Fed to hold rates steady at 5.25% to 5.5%.
00:32 Fed Chair Jerome Powell's comments will be closely watched for hints on the path ahead for interest rate hikes.
00:38 Turning now to tech, Apple celebrated Halloween a day early with its "scary fast" event in which it unveiled several new products.
00:46 First, a new generation of its processors, the M3, M3 Pro and M3 Pro Max.
00:53 And while it may not really be as interesting or as flashy as a new iPhone, these new processors are up to 2.5 times faster than the original M1 line of chips.
01:02 And its core processing performance is also up to 50% faster.
01:06 Of the chips, one Apple executive said, "It will bring a whole new level of graphics to the Mac. They are the most advanced chips ever built for a personal computer."
01:16 And speaking of computers, Apple also announcing brand new 14 and 16-inch MacBook Pro laptops, which will come with the M3 Pro and M3 Pro Max chips.
01:26 The new models have a 22-hour battery life and a display that is 25% brighter than the previous model.
01:33 The 14-inch MacBook begins at $1599, while the 16-inch laptop will begin at $2,499.
01:41 That will do it for your daily briefing. From the floor of the New York Stock Exchange, I am JD Durkin with the streets.