U.S. futures were largely steady today, indicating a potential pullback from the gains Wall Street recorded in the previous session. Investors are focusing on the anticipated inflationreport, as well as any potential changes to interest rates by the Federal Reserve.
Markets are now trying to analyze the outlook for Federal Reserve policy in light of new data. There appears to be a strong likelihood of reducing borrowing costs at the next central bank meeting scheduled for September 17-18, although the decision on the size of the reduction remains unclear. More details may emerge on Wednesday with the release of the latest U.S. Consumer Price Index, a key inflation measure.
In this context, Apple’s shares remained relatively steady in after-hours trading following the unveiling of the latest iPhone model. The company announced a range of improvements in the iPhone 16, including updates to the Siri voice assistant and smart camera tweaks aimed at enhancing professional video editing.
Analysts reported that the artificial intelligence features in the new iPhones largely aligned with Apple’s previously outlined AI plans, known as “Apple Intelligence.” In light of fierce competition from companies like Samsung and Huawei, Apple is betting on the iPhone 16, which is set to go on sale on September 20, with pre-orders starting this Friday.
Meanwhile, Chinese exports saw an unexpected increase in August, which may suggest companies are rushing to place orders ahead of anticipated tariffs from some trade partners. China’s outbound shipments rose by 8.7% year-on-year, surpassing expectations of 6.5% and accelerating from a 7% increase in July, according to government data. This was the fastest growth since March 2023.
Imports expanded by 0.5%, lower than the 2% expected, and slowed from 7.2% in July, indicating weak domestic demand in the world’s second-largest economy. The figures suggest companies may be trying to secure orders early due to concerns over increasing tariffs on Chinese exports.
At the same time, oil prices dipped slightly in European trading today, as concerns over weak domestic demand in China overshadowed the impact of the tropical storm on U.S. oil production.
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