Stock Market Today: AAPL New Tech, META Muse AI, CASY Sells

Marley Kayden (0:00)

Welcome to The Wrap. I'm Marley Kayden, here to take you through today's market action. Let's take a look at where the markets closed to end the day. It was red across the board for the major averages, the S&P 500 down about a half a percent, the Dow was lower by three-quarters of a percent, the Nasdaq closed down a third of a percent, and the small cap Russell 2000 was the big laggard lower by one and a third percent. As we look at the leading and lagging sectors on the day, energy was the only sector in the green today as oil prices continued to rise on the back of increased tensions in the Middle East. To the downside, industrials were down one and a half percent, consumer discretionary was lower by about one point four percent, and utilities was lower by one and a tenth of a percent. As we look at stocks that were moving today, Apple shares ended up down about a quarter of a percent after its much anticipated Surprise and Shine event. The company announced its latest iPhone 18 Pro and Pro Max models, updates to Siri, the new A20 Pro chip, AirPods and a new Apple Watch. But the main event unveiling was, of course, the foldable iPhone, which they are calling the iPhone Duo. The phone has a 7.6-inch display and its thinnest phone yet when it is unfolded. Apple highlighted that its hinge keeps the inner screen flat when it's open. It has a starting price for 256 gigs of storage of $2,000. It's $19.99 to be exact. Meta also closed higher by six and a half percent after it introduced a private personal AI agent called Muse, which the company says will proactively help users with their digital tasks. The Muse personal agent will be available in either a free tier or through a monthly subscription plan depending on how you would like to use it. To the downside though, Casey's General Store sold off 14 percent despite the company posting an earnings beat on the top and bottom lines. Same store sales growth slowed year over year and fiscal year guidance was left unchanged. As we look ahead to Thursday on the data front, we'll get August's PPI reading, jobless claims and existing home sales. We also have some earnings in focus with Macy's reporting in the morning. After the closing bell, we'll get reports from Adobe, RH and Oracle. That's going to do it for the wrap. I'm Marley Kayden. Remember you can tune in 24-7 to schwabnetwork.com and subscribe to our YouTube channel.