John Ternus' vision for Apple is coming into view, and we like what we see
Article excerpt
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch - an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks are cutting their losses in afternoon trading. Earlier in the session, stocks were facing heavier selling pressure, despite oil prices falling slightly. The reason was that the bond market sell-off picked steam with the 10-year Treasury yield rising near 5.3% and the 30-year U.S. government bond yield crossing 5.6% and hitting its highest level since 2002. However, after U.S. oil benchmark WTI crude dipped below $90 a barrel, the selling in bonds eased - and that invited some buyers in stocks. After being down almost 0.4% at 2 p.m. ET, the S & P 500 clawed back near the flatline. Another thing inspiring the buyers on Tuesday afternoon might be comments from New York Fed President John Williams. According to Reuters, Williams said that after the central bank's September hike, he sees "no need for urgency" in the Fed's next move. Nevertheless, he said he expects one more hike by year-end may be appropriate "if the economy evolves in a manner broadly consistent with my forecast." Odds of a rate hike at the Fed's late October meeting have fallen fast; it's basically a 50-50 coin flip now, according to the CME's FedWatch tool, down from 71% a day earlier. However, the market is still overwhelmingly...
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Extracted from this sentence
It's been a month since John Ternus succeeded Tim Cook as CEO of Apple , and we're starting to get a sense of where he wants to take the company next.
