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🍎 The Market's Next Move Is Dependent On This Announcement From Apple

Apple gears up for a big announcement today, Janet Yellen says presidential administration could make huge mistake and more

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Happy Monday! And hope everyone enjoyed the first full weekend of NFL football and that your fantasy teams won. Speaking of football, Apple is hoping to score a touchdown with its “Glowtime” event today, in which the company is expected to provide more details about its AI-powered new iPhones. But, will it be enough to drive an overall market rebound after the worst week of the year for stocks?

—Aaron Bry

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MARKET SNAPSHOT

Last Week: Was the market’s worst week of the year. Big sell-offs in chip names like NVIDIA brought the Nasdaq down nearly 5% on the week. Energy names showed strength against other sectors.

On Our Radar: Lots of economic data and earnings coming our way this week. CPI will be released Wednesday morning, followed by CPI on Thursday. We will also hear from companies like Oracle, Adobe and more.

TOP STORY

Basically: As Apple prepares for its iPhone 16 launch on Monday, the biggest question on investors’ minds is pricing.

So: JPMorgan analyst Samik Chatterjee stresses that "pricing of iPhones to be a key watchpoint with premiumization expected for the less price-elastic high-end Pro models. Here’s how much the analyst expects the new iPhone to cost, and what AI capabilities Apple is expected to announce.

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FIVE ZINGERS

Make It Double: Palantir’s stock is trading higher as we head into Monday’s open. And two headlines are driving the action.

Analyst Calls: Here’s why one U.S. steel analyst is turning bullish on the stock, and the other top analyst upgrades and downgrades of the day.

The Trump Bump: $DJT, the parent company of Truth Social, is getting a bounce this morning after hitting new all-time lows last week.

Welcome To The Party: Terns Pharmaceuticals announced some bullish data on its weight-loss drug, joining the party with $LLY, $NVO and others.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Basically: Amid concerns over the U.S. labor market, Treasury Secretary Janet Yellen has reassured the public about the economy’s resilience, despite recent weak job reports.

What Happened: Yellen assured the public of the U.S. economy’s strength, despite recent weak job reports. Speaking at the Texas Tribune Festival in Austin, Yellen said, “We’re seeing less frenzy in terms of hiring and job openings, but we’re not seeing meaningful layoffs,” reported CNBC on Saturday. But, she also said that the next administration could make this crucial mistake that would damage the economy.

PRESENTED BY THERIVA BIOLOGICS

The growing prevalence of cancer is not limited to adults; it is also afflicting children. An estimated 15,780 children between the ages of birth and 19 years of age are diagnosed with cancer each year in the U.S., according to the American Childhood Cancer Organization.

Approximately 1 in 285 children in the U.S. will be diagnosed with cancer before their 20th birthday. Globally, there are more than 300,000 children diagnosed with cancer each year, and the rate of childhood cancer is rising; cancer cases increased to 177 per million in 2019 from 165 per million in 2003.

Recently, Theriva Biologics (NYSE American: TOVX), the clinical-stage immuno-oncology company developing therapies for difficult-to-treat cancers, was granted the Rare Pediatric Drug Designation (RPDD) by the U.S. Food and Drug Administration (FDA) for VCN-01 for the treatment of retinoblastoma; the most common type of eye cancer in children.

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