Morning Briefing: iPhone 13 may get more expensive as TSMC raises chip prices
By Julianna
Hey, moomooers! Here are things you need to know before the opening bell:
- Stock futures rose on Friday ahead of the Federal Reserve's annual Jackson Hole symposium with investors looking for more details into the central bank's plans to taper monetary stimulus.
- The world's largest contract chipmaker Taiwan Semiconductor Manufacturing is raising prices by as much as 20%, according to people familiar with the matter, a move that could result in consumers paying more for electronics.
Market Snapshot
Stock futures rose on Friday ahead of the Federal Reserve’s annual Jackson Hole symposium with investors looking for more details into the central bank's plans to taper monetary stimulus.
Futures on the $Dow Jones Industrial Average(.DJI.US$gained 85 points, or 0.2%. $S&P 500 Index(.SPX.US$futures ticked up 13.5 points and $NASDAQ 100 Index(.NDX.US$futures added 51.5 points.
Top News
Fed officials say time for tapering is nearing
Three Federal Reserve officials said in separate interviews that the time to cut back on central-bank bond-buying stimulus was looming.
U.K. plans new post-Brexit privacy rules to ease data sharing
The U.K. government plans to relax its privacy rules and strike new data transfer agreements with the U.S. and other countries in a move to reform data regulations since leaving the European Union last year.
Business groups withdraw suit challenging health-price rule
The U.S. Chamber of Commerce and a Texas affiliate had filed to block parts of a federal rule requiring insurers and employers to disclose prices they pay for healthcare services and drugs.
$Apple(AAPL.US$The tech giant announced changes to its App Store regulations that will allow software developers to tell customers about other ways to pay for services outside the confines of Apple's ecosystem, part of a proposed settlement of a class-action lawsuit.
HP, Dell see swelling backlogs amid hot demand for computers
$HP Inc(HPQ.US$and $Dell Technologies(DELL.US$are experiencing demand for computers that is outpacing their ability to satisfy customer orders as shortages and supply-chain issues hold back sales growth.
J&J injury claimants fail to prevent potential talc bankruptcy
$Johnson & Johnson(JNJ.US$A Delaware judge declined to prohibit Johnson & Johnson from separating talc-related liabilities from the rest of its business, ruling against personal-injury lawyers.
Bank of America says two top executives to retire
$Bank of America(BAC.US$Chief Operating Officer Tom Montag and Vice Chairman Anne Finucane will remain in advisory roles.
Lordstown Motors names former icahn executive ninivaggi as CEO
$Lordstown Motors Corp(RIDE.US$Daniel Ninivaggi once served as CEO of Icahn Enterprises and ran Icahn's automotive aftermarket service network and parts-distribution businesses.
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Key Events This Week
Source: CNBC, Dow Jones Newswires
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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geewee : amazing
looking forward
DC_Ultron : so the most expensive phone is about to get more expensive?