TheStreet’s Conway Gittens brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Monday, June 10.
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Full Video Transcript Below:
CONWAY GITTENS: I'm Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The S&P 500 started off the new week by setting yet another record closing high. It came amid small market moves ahead of the Federal Reserve’s two-day meeting, which begins on Tuesday. Investors are not expecting any interest rate change this time around. Speculation about the timing of the first rate cut since the pandemic is fluctuating. Expectations for a September cut diminished to just 50 percent.
In other news, Apple finally took the wraps off its long-awaited AI strategy. For Apple, AI isn’t short for artificial intelligence, it's short for Apple intelligence. Right off the bat, Apple says it has put in security measures to address privacy concerns due to the spread of AI.
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A smarter Siri is at the heart of Apple’s AI rollout. Apple says ChatGPT will be integrated into Siri. AI Siri will respond to both voice and text prompts. The enhanced digital assistant will use AI to navigate through all Apple-powered apps on your device to provide more information, images, and suggestions, as well as take data from one app and share it with another app.
Apple’s AI features will be included in the iOS-18 upgrade coming this fall. Other changes with the upgrade include tweaks to email functions and a privacy feature that allows users to lock specific apps to help protect sensitive information.
Judging from the stock’s reaction, investors were unimpressed. Shares of Apple fell roughly two percent after the announcement. Tech rivals like Samsung, Google, and Microsoft have already unveiled similar AI options.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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