TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Elon Musk might ban Apple products at his companies.
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00:00 I'm Conway Gittins reporting from the New York Stock Exchange.
00:02 Here's what we're watching on the street today.
00:04 A late day reversal sent the S&P 500 and the Nasdaq to record closing highs for the second
00:09 day running.
00:10 The Dow, however, faltered a bit.
00:12 Wall Street is bracing for the latest inflation reading from the Consumer Price Index and
00:16 results from the Federal Reserve.
00:19 Policymakers wrap up their two-day meeting on June 12th and are likely to provide clues
00:23 on how many interest rate cuts could be in the pipeline for this year.
00:27 Separately, shares of Apple surged 7 percent, touching an all-time high.
00:33 Investors took a second look at Apple's AI strategy and decided while it may not be revolutionary,
00:39 it will likely have wide consumer appeal.
00:42 Sticking with AI, or Apple Intelligence as Apple likes to call it, Elon Musk is weighing
00:47 in with a resounding "thanks, but no thanks."
00:50 He went on X Monday to say that he will ban iPhones, iPads and Macs in the office if Apple
00:56 integrates ChatGPT into the Apple operating system.
01:00 The ban would be in effect for all his companies, including SpaceX and X.
01:05 Even visitors would have to leave their devices at the door.
01:08 Musk wrote that the Apple-ChatGPT combo would be "an unacceptable security violation."
01:16 There's bad blood between Musk and ChatGPT owner OpenAI.
01:20 Musk was a co-founder back in 2015, but left and now runs a competitor called XAI.
01:27 That'll do it for your daily briefing from the New York Stock Exchange.
01:30 I'm Conway Gittens with the Street.
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