Apple to take two Watch models off shelves

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TheStreet's J.D. Durkin brings you the biggest news of the day, including why Apple is taking two of its watch models off of shelves.
Transcript
00:00 I'm JD Durkin reporting from the New York Stock Exchange and here's a look at what we
00:03 are watching on the street today.
00:06 Stocks have been on a tear as the December rally continues.
00:10 Investors still very much cheering the prospect of interest rate cuts despite warnings from
00:14 Fed officials that it's "premature to expect that the central bank is finished raising
00:19 interest rates."
00:21 Investors are looking ahead to jobless claims Thursday as well as PCE, that's personal consumption
00:26 expenditures.
00:27 We get that data out on Friday and it is in fact the Fed's preferred gauge on inflation.
00:32 In other news, if you were planning to buy an Apple Watch, you might want to move quickly.
00:37 The company will stop selling its Apple Watch Series 9 and Ultra 2 versions in the U.S.
00:43 due to a patent controversy.
00:44 The company is pausing sales of the devices online beginning December 21st and in stores
00:50 after the 24th.
00:52 The company is in an ongoing dispute with medical device maker Massimo over the watch's
00:56 blood oxygen feature.
00:58 The U.S. International Trade Commission ruled back in October that Apple was in violation
01:02 of Massimo's patent for technology used in its pulse oximeter.
01:07 While Massimo's CEO has said Apple's use of the technology is a "deliberate infringement"
01:13 of its patent, Apple has fired back saying in a statement, "Apple strongly disagrees
01:18 with the order and is pursuing a range of legal and technical options to ensure that
01:23 Apple Watch is available to customers."
01:26 Apple also said its other watch models will remain on shelves for now, but watches that
01:30 are Series 6 and later could be pulled depending on the verdict.
01:35 That will do it for your daily briefing.
01:36 From the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.
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