Business and Finance News - 7.30.24

Apple's AI features, including an improved Siri and ChatGPT integration, will not be available with the initial iOS 18 release and iPhone 16 launch in September. Instead, these features are expected to roll out with iOS 18.1 in October to ensure a smooth implementation. (The Verge)

*Apple (AAPL) - Apple Inc. is a multinational technology company known for its innovative products and services (iPhone, iPad, Mac Computers, etc.).

The FDA approved Guardant Health’s Shield test, a blood test for colorectal cancer screening in adults over 45, demonstrating 83% sensitivity in detecting colorectal cancers. This test offers a less invasive alternative to colonoscopies and meets Medicare coverage requirements. (Quartz)

*Food and Drug Administration (FDA) - The Food and Drug Administration (FDA) is a federal agency of the United States Department of Health and Human Services. Its primary responsibilities include protecting public health by ensuring the safety, efficacy, and security of various products.

Hewlett Packard Enterprise is expected to receive unconditional EU antitrust approval for its $14 billion acquisition of Juniper Networks by August 1. The deal, announced in January, highlights the industry's push to develop new AI-driven products. (Reuters)

*Hewlett Packard (HPE) - HP is a technology company that provides a wide range of products and services; personal computers, printers and imaging, enterprise solutions, etc.

*Juniper Networks (JNPR) - Juniper Networks is a company that designs, develops, and sells networking products, including routers, switches, network management software, network security products, and software-defined networking (SDN) technology.

McDonald's missed second-quarter earnings and revenue estimates, with same-store sales declining for the first time since Q4 2020. The company is focusing on value meals to attract customers amid a consumer pullback and increased competition, extending a $5 meal deal that initially boosted foot traffic. (CNBC)

*McDonald’s (MCD) - McDonald's operates a global chain of fast-food restaurants, primarily known for its hamburgers, fries, and beverages.

Tesla shares surged more than 5% early Monday after Morgan Stanley named it their top pick in the U.S. auto sector, replacing Ford, citing the potential growth of Tesla's energy business. Despite missing Q2 earnings targets, Tesla's dominant position in zero-emission vehicle credits and autonomous driving technology are seen as key future drivers. (Reuters)

*Tesla (TSLA) - Tesla, Inc. is an American electric vehicle (EV) and clean energy company.

Here’s how the major indexes did yesterday:

• Dow Jones Industrial Average: 40,539.93 -49.41 (-0.12%)

• S&P 500: 5,463.54 +4.44 (+0.08%)

• Nasdaq Composite: 17,370.20 +12.32 (+0.07%)

• Russell 2000: 2,235.33 -24.74 (-1.09%)

• CBOE Volatility Index (VIX): 16.60 +0.21 (+1.28%)

Here’s how leading market ETFs did yesterday:

• SPDR S&P 500 ETF Trust (SPY): 544.76 +0.32 (+0.06%)

• iShares Core S&P 500 ETF (IVV): 547.77 +0.38 (+0.07%)

• Invesco QQQ Trust (QQQ): 463.90 +0.93 (+0.20%)

• Vanguard S&P 500 ETF (VOO): 500.70 +0.37 (+0.07%)

• Vanguard Total Stock Market ETF (VTI): 269.71 +0.02 (+0.01%)

Here’s how The Magnificent Seven did yesterday:

• Microsoft (MSFT) [3.172T]: 426.73 +1.46 (+0.34%)

• Apple (AAPL) [3.347T]: 218.24 +0.28 (+0.13%)

• Nvidia (NVDA) [2.75T]: 111.59 -1.47 (-1.30%)

• Alphabet (GOOG) [2.107T]: 171.13 +2.45 (+1.45%)

• Amazon (AMZN) [1.906T]: 183.20 +0.70 (+0.38%)

• Meta Platforms (META) [1.181T]: 465.71 +0.01 (+0.00%)

• Tesla (TSLA) [740B]: 232.10 +12.30 (+5.60%)

Here’s how the major cryptocurrencies did yesterday:

• Bitcoin (BTC): $66,812.17 (4:45PM PST on 7/29/24)

• Ethereum (ETH): $3,319.43 (4:45PM PST on 7/29/24)

• Solano (SOL): $182.58 (4:45PM PST on 7/29/24)