S&P 500 Jumps 1.2%, Apple Unveils AI iPhones, Inflation Data in Focus

By Guntakin Mehnatli
September 9, 2024

The S&P 500 jumped 1.2% on Monday, recovering from its biggest weekly slump since 2023. The rally was driven by dip-buying, oversold conditions, and anticipation of monetary support. The Dow Jones gained 484 points, while the Nasdaq also rose by 1.2%.

Apple Unveils iPhone 16
Apple closed flat despite unveiling its new AI-enhanced iPhone 16 starting at $799, along with a redesigned Watch Series 10 and AirPods 4. Investors are closely watching how Apple’s AI push might drive future upgrades.

Inflation Data on Tap
Key inflation data, including the consumer price index, is due this week. Investors expect the Fed to cut rates by 25 basis points, with 73% betting on this move ahead of the Sept. 18 Fed meeting.

Boeing, Palantir, and Dell Make Moves
Boeing shares jumped 3% after a tentative union agreement. Palantir and Dell saw rallies after S&P Global announced they would join the S&P 500, replacing American Airlines and Etsy.

inflation data

About Author / Guntakin Mehnatli

Starting her career as a Political Journalist in 2020, Guntakin Mehnatli has dedicated the past four years to becoming an expert in finance and political news reporting. She also maintains a keen focus on trending topics in artificial intelligence, technology, startups, business and related areas.