Piper Sandler's Top Economist Sees "Big Bounce" In Consumer Sentiment As Gas Prices Tumble

Apple, Microsoft Tumble On Abrupt Price Hikes Amid Chip-Crunch Contagion; Wall Street Responds Summary: Memory Chip Crunch Crisis May Unleash Flood Of Consumer Device Companies Hiking Prices  Microsoft Hikes Prices on Xbox  Apple Hikes Prices on Macs and iPads Wall Street Responds To Apple Hikes  Apple shares were down 5.5% in late-afternoon trading, on track for their largest intraday decline in 15 months, as the stock tumbled into correction territory. Shares are now down about 14% from their early June peak near $317. Investors appear spooked by Apple's rare overnight price hike, which boosted Mac computers...

Michigan And New York Drive Jump In Initial Jobless Claims, Continuing Claims Near 2-Year-Lows The number of Americans filing for unemployment benefits for the first time rose to 209k last week, rebounding off the lowest levels since 1969... Michigan and New York saw the largest surge in initial jobless claims last week, while Puerto Rico and Ohio saw the biggest weekly declines... Continuing jobless claims, however, dipped back below 1.8 million Americans, clearly trending lower again... Combined with Friday's disappointing payrolls print, the labor market appears to remain in the 'no hire, no...

Three Maritime Incidents Reported In Strait Of Hormuz Energy Chokepoint Update (1045ET): The United Kingdom Maritime Trade Operations reports three maritime incidents in or around the Strait of Hormuz involving commercial vessels. First Incident Second Incident Third Incident Reuters wrote on X, "Tanker owners, oil majors and trading houses suspended oil, fuel and LNG shipments through the Strait of Hormuz after Tehran said it had closed navigation."  Tanker owners, oil majors and trading houses suspended oil, fuel and LNG shipments through the Strait of Hormuz after Tehran said it had closed navigation, raising fears of a...