TheStreet’s J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, October 31.
Full Video Transcript Below:
J.D. DURKIN: I’m J.D. Durkin, reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Investors are bracing for a big week on Wall Street. The two-day Federal Reserve meeting kicks off today with an interest rate decision due out Wednesday, Apple earnings out Thursday, and the October jobs report on Friday. Traders are hoping that Friday’s report will show some slowdown in the labor market.
As far as the Fed goes, Wall Street is largely expecting the central bank to hold rates steady at 5.25 – 5.5 percent. Fed Chair Jerome Powell’s comments will be closely watched for hints on the path ahead for interest rate hikes.
Turning to tech, Apple celebrated Halloween a day with its “Scary Fast” event, which unveiled several new products.
First, the new generation of its processors – the M3, M3 Pro, and M3 Pro Max. And while it may not be as interesting or flashy as a new iPhone, the new processors are up to 2.5 times faster than the original M1 line of chips, and its core processing performance is up to 50 percent faster. Of the chips, one Apple executive said, “It will bring a whole new level of graphics to the Mac. They are the most advanced chips ever built for a personal computer.”
And speaking of computers, Apple also announced brand new 14 and 16-inch MacBook Pro laptops, which will come with the M3 Pro and M3 Pro Max chips. The new models have a 22-hour battery life and a display that is 25 percent brighter than the previous model. The 14-inch MacBook starts at $1,599, while the 16-inch laptop will start at $2,499.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
