| | | Intraday Update: Tuesday October 6, 2020 | | |  | | | | Apple Announces the next iPhone | | | | Apple held a virtual event at their Northern California corporate campus. The new iPhones, called the iPhone 12, will come in several varieties. There are two new lines of iPhone a standard iPhone and a Pro version. These new phones start at a price of $699 and the Pro model starts at $999. The new phones will not ship with a charger or headphones in the box; however these new devices are compatible with Apple's new magnetic safe chargers. The major benefit over previous Apple phones is the iPhone 12 as well as the iPhone 12 Pro are 5G capable. 5G has long been seen as the "next step" in mobile tech, with major carriers such as AT&T and Verizon rolling out their 5G towers. | | | | Second Stimulus Talks | | | | Secretary Mnuchin said that economic stimulus talks have stalled yet again causing stocks to to fall today. It is unlikely that any stimulus will be agreed to before the election on November 3rd. The markets were hopeful that another stimulus could be agreed to and that hope sent markets up. The losses, about 200 on the DOW intraday, have not removed the gains over the past month across the S&P, NASDAQ, and DOW. It is likely that stimulus talks will continue over the next several weeks, however it is unlikely that any headway will be made. | | | | Election 2020 | | | | The Presidential election is three weeks away. The second Presidental debate has been cancelled, instead President Trump and former Vice President Biden will hold dueling town halls on NBC and ABC hold dueling town halls respectively. President Trump's postive Covid-19 test is the likely reason for the cancellation. Expect viewership to be high as over half the States have begun early in person voting. The 2020 election is a main driver in the markets. | | | |
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