Apple Names New CEO, Succeeding Tim Cook

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Why the class of 2026 might be graduating into the best job market in years. Plus, Tesla owners are pushing back against the company they say promised them self-driving cars and never delivered.

Becky Peterson (0:34)

The pitch Musk has made is that you will be able to step into your Tesla, enter an address, and go to sleep, text, eat a meal, just live in your car as if you have a chauffeur. That's what people don't quite have yet.

Alex Ossola (0:51)

Apple has named a new CEO. It's Monday, April 20th. I'm Alex Ossola for The Wall Street Journal. This is the PM Edition of What's News, top headlines and business stories that move the world today.

This just in, Apple has named a new CEO. It's John Ternus, the company's current Senior Vice President of Hardware Engineering, long seen as a top contender to succeed Tim Cook. Cook will become Apple's Executive Chairman. Ternus' appointment will take effect September 1st. For more on this developing story, visit wsj.com.

We've got some potentially good news for the class of 2026 Entry level hiring seems to be picking up this year. A widely watched survey by the National Association of Colleges and Employers out today shows that employers expected to boost hires of new grads by almost 6% this spring. Big companies such as McKinsey and IBM also say they've increased graduate hiring this year. WSJ Workplace reporter Ray Smith says that's a big turnaround from the past few years.

Ray A. Smith (1:57)

This is a very big surprise. Employers feel the need to replenish their pipelines. They've been holding back on hiring for the past several years. And some of the economic uncertainty has lifted in some ways for companies. But they're also realizing their needs have changed. And so they may need to hire more entry level workers.

New roles that have been created because of AI.

That leads to a need for a different kind of worker. A younger worker who maybe has some experience with AI. But also we're seeing a lot of demand in healthcare that's hiring briskly. But also some of these jobs that these college graduates are taking, we don't yet know whether they are first option jobs or last resort jobs. We talked with a zip recruiter economist who frankly said that some of them could be fast food jobs or door dash jobs. So we still have to caveat this in terms of whether this is all good news or whether there might be some cracks in this.

Alex Ossola (3:00)

The US and Iran plan to hold peace talks in Islamabad, Pakistan this week. Though Tehran hasn't publicly confirmed it will send representatives to the meetings, people familiar with the matter said that Iran has told regional mediators it would send a negotiating team tomorrow. A White House official said that President Trump doesn't seem inclined to extend the ceasefire with Iran that is set to expire on Wednesday evening, putting pressure on the talks.

Stocks slipped today on the tensions in the Persian Gulf. President Trump has threatened to attack Iran's infrastructure if the country doesn't make a deal. The Nasdaq and the S&P both dropped by 0.3% or less, while the Dow was roughly flat. The dip in the Nasdaq broke a 13-session winning streak, its longest since 1992 Meanwhile, oil prices climbed, with Brent Crude, the international benchmark, rising more than 5%.

Coming up, why a more than 200-year-old Wall Street institution is embracing crypto. That's after the break.

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Alex Ossola (4:33)

Opening bell at the New York Stock Exchange. Iconic, right? When you hear this, weekdays at 9:30 a.m. Eastern, it means that the Exchange is open for trading. But the way Wall Street has moved in recent years, even having trading hours can seem pretty old school. The Exchange, established in 1792, is as old school as it gets, and now it's setting itself up for the new. Vicki Guihuang, who covers crypto for the Journal, joins us now to discuss the Exchange's attempt at transforming into a crypto powerhouse.