Apple Inc. (NASDAQ: AAPL) announced the lineup for its iPhone 18 series during the week, highlighting the introduction of a new foldable model. This development was noted alongside broader market movements, as U.S. stocks ended the week lower despite a rebound on Friday. The S&P 500 fell 0.8% for the week, the Dow Jones Industrial Average dropped 1.6%, and the Nasdaq Composite declined 0.7%.
Market pressure was driven by surging oil prices, which saw Brent crude climb above $100 a barrel, and rising Treasury yields. The 10-year Treasury yield approached 5%, while U.S. gasoline prices increased and diesel reached around $6 a gallon. These factors contributed to concerns that higher transportation and fuel costs could keep inflation elevated.
Investor focus shifted from earnings growth toward inflation, interest rates, and the economic impact of higher energy prices. This shift influenced expectations for the Federal Reserve, with futures markets placing the probability of a quarter-point rate hike at roughly 85% to 90% ahead of the next meeting.
Despite the broader market struggles, technology and AI-related stocks remained relatively resilient. This resilience was supported by corporate developments, such as Oracle reporting strong cloud and AI-driven growth, and Apple unveiling its new device lineup.
