Apple's New Direction, G20 Tensions and the Markets Ahead

0:00 Speaker 1 How are the markets doing? John Territ is with us. John? Morning, John. Big story of the week was John Ternus taking over as Apple CEO from Tim Cook. Tim Cook turned the company into a $ 4. 6 trillion entity, so John Ternus has a lot of work on his plate. His priority is AI, because Tim Cook’s one failure was that he was late

0:18 to the party when it comes to AI. John Ternus issued a memo on his first day on Tuesday, touting and teasing a big product launch next Wednesday, the 9th of September. They’re calling it Surprise and Shine. and we think it might be the world’s first foldable iPhone. We’ll see.

0:35 Also last week, we had the August non-farms jobs on Friday staggering, 162,000, not the 53,000 to 55,000 economists have forecast, and better than the 23,000 loss in July. Of course, this does favour the rate hawks in the Fed. They meet not this coming week, but the week after, the 15th and 16th of September. We also have the G20

0:55 finance ministers in Asheville, North Carolina this week. This is Developing Developed Nations. Scott Besson was there. Kevin Walsh was there trying to get the member nations to rethink their relationships with China. There was no consensual statement at the end because they couldn’t agree because of inflation, AI and geopolitics.

1:12 The crypto story of the week. Digital assets were discussed at that G20 meeting and the digital community, the crypto community, thinks that that is a very, very big win. And John, in the week ahead. Well, tomorrow, of course, as we know, is Labor Day. We get earnings on Thursday from Larry Ellison’s Oracle. Kroger, the supermarket people, that’ll interest you there

1:30 on Friday. And we get inflation data as well, Thursday and Friday, PPI and CPI. And that comes right at the end of this holiday shortened week. Happy Labor Day weekend, John. Thank you. Enjoy it. And I’ll see you on Tuesday. Yep, absolutely.

1:44 See you at work. Thank you.