In partnership with
Talk to your AI tools the way you'd talk to a colleague.
You don't send a colleague a three-word brief. You explain the context, the constraints, what you've already tried. But typing all that into ChatGPT takes forever — so you don't.
Wispr Flow lets you speak your prompts instead. Talk through your thinking naturally and get clean, paste-ready text. No filler words. No cleanup. Just detailed prompts that actually get you useful answers on the first try.
Millions of users worldwide. Works system-wide on Mac, Windows, and iPhone.
Good morning. Monday was a rougher session: the U.S. and Iran exchanged strikes over the weekend, oil prices jumped, and rate-hike worries deepened, pulling stocks lower into the close. Today brings the first real economic data of the week, and one very specific, non-economic event: Apple officially gets a new CEO this morning.
The Market Gauge
Here's where Monday finished:
S&P 500: 7,686.14 (-0.33%)
Nasdaq: 26,370.89 (-0.12%)
Dow: 53,185.90 (-0.70%)
The Dow took the hardest hit, weighed down more than the other two. The driver was mostly geopolitical: over the weekend the U.S. and Iran traded strikes for the first time in about a month, and oil jumped on fears of energy disruptions (Brent crude traded above $90 a barrel, WTI above $85). Higher oil feeds into inflation worries, and the market's odds of a rate hike at the Fed's September meeting climbed to roughly 62%, up from about 40% just a week earlier. Energy stocks were among the few winners Monday as crude prices rose.
Beginner note: this is a useful contrast to Friday's decline. Friday's drop came from a Fed official's words; Monday's came from an actual world event with a real economic channel (oil prices) attached. Both can move the market, but a news-driven pullback like Monday's tends to matter more directly to inflation and rate expectations than a single speech does.
On today's calendar
S&P Global Manufacturing PMI, 8:45 AM ET. A survey of manufacturers asking whether business is expanding or shrinking. A reading above 50 means expansion, below 50 means contraction.
ISM Manufacturing PMI and JOLTS Job Openings, both around 10:00 AM ET. ISM is a separate, closely watched version of the same manufacturing question. JOLTS measures how many job openings employers had open in July, one input into the bigger jobs picture that culminates in Friday's official August jobs report.
On the radar: Apple
$AAPL ( ▲ 2.61% ) closed Monday at $316.85, down 0.89% and sitting about 8% below its 52-week high of $344.57. But the real story today isn't the chart, it's the calendar. Apple's leadership transition, announced back in April, officially takes effect this morning: Tim Cook moves from CEO to Executive Chair, and John Ternus, previously Apple's head of hardware engineering, becomes the company's new CEO.
Why it's worth watching: this is a live, real-time example of the new-management catalyst we covered back on Day 52. New CEOs don't move a business overnight, the framework from that lesson said the real impact plays out over 6-18 months, not the first trading day. What's worth watching today isn't whether the stock jumps or drops on the news itself (leadership transitions announced months in advance rarely move a stock much on the effective date), it's whether Ternus starts signaling anything about strategy in the weeks ahead. That's the kind of signal Day 52 taught you to look for.
ONE FOR THE ROAD
A well-telegraphed leadership change, like Apple's today, versus a surprise CEO departure, which do you think moves a stock more on the actual transition date? There's no wrong answer, the point is starting to think about how much of a stock's reaction to news depends on whether the market already priced it in. Reply with your take.
Educational content only. Not financial advice. Past performance does not predict future results. Read the full financial disclosure.
Chef-Crafted, Dietitian-Designed Meals Ready in 2 Minutes
Try Factor, America's #1 ready-to-eat meal delivery service.
Made from ingredients you recognize. Whole food. Nothing unnecessary. Let’s eat real.
Get 50% off your first Factor box + Free Breakfast for a year *1 free breakfast item per box for 1 year while subscription active.