The annual product announcement on September 9th is shaping up to be a potential blockbuster. Multiple sources, including Bloomberg, have confirmed that Apple’s first folding phone, the iPhone Ultra, will be announced. John Ternus is expected to lead the Apple presentation that will also announce an iPhone 18 in a new color, Dark Cherry.
The big stock news was that it was disclosed on August 21st in an SEC filing that Nancy Pelosi’s husband bought up to $12 million of Bloom Energy (), including two big option bets, which sparked a big stock rally. On Tuesday, it was announced that Bloom Energy will be added to the on September 21st. What can I say other than Nancy and Paul Pelosi are great investors?
If inflation comes in below economists’ expectations, a Fed rate hike can be postponed. The Producer Price Index () and the Consumer Price Index () will be announced on September 10th and 11th. Economists are expecting that both the PPI and CPI will rise 0.4% in August. The , excluding food and energy, is expected to rise 0.3%, while the is expected to rise 0.2%.
On Tuesday, U.S. Central Command said it destroyed five Iranian vessels, four in the Gulf of Oman and one near Kharg Island, where 90% of Iran’s oil exports are handled. Meanwhile, on Truth Social, President Trump has repeatedly talked about Kharg Island. It will be interesting if the U.S. eventually occupies Kharg Island, since the U.S. will then effectively be in control of Iran’s crude oil exports. In the meantime, crude oil is now significantly above $100 per barrel, which is politically unsustainable, so I expect that if Iran refuses to sign a ceasefire agreement, then the U.S. will seek to control Kharg Island.