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Morning Brief: Apple reportedly plans to launch 3 new iPhone models this year


Friday, January 11, 2019

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WHAT TO WATCH

The U.S. Bureau of Labor Statistics will be releasing Consumer Price Index (CPI) data. The Fed often looks to CPI data as a key inflation gauge, and given that it was revealed in the Federal Open Market Committee’s (FOMC) December meeting minutes that a few non-voting members were reluctant to hike rates due to inflation pressure concerns, the CPI data for December will be even more closely watched.

Economists polled by Bloomberg are expecting “core” consumer prices, excluding the cost of food and gas, to have risen 2.2% in December from a year ago. The Fed is targeting 2% inflation.

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TOP NEWS

Apple Inc. iPhone XR smartphones sit on display at a SoftBank Group Corp. store in Tokyo, Japan, on Friday, Nov. 2, 2018. Softbank will announce its half-year earnings figures on Nov. 5. Photographer: Kiyoshi Ota/Bloomberg via Getty Images

Apple reportedly plans to launch 3 new iPhone models this year: Apple Inc. (AAPL) plans to launch three new iPhone models this year, including one with an LCD screen, to succeed its struggling XR model, the Wall Street Journal reported on Friday. [Reuters]

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Powell, Clarida insist the Fed will be 'patient' with monetary policy: The Fed is reiterating that it will be flexible with its monetary policy in 2019. Federal Reserve Chair Jerome Powell made remarks Thursday afternoon in Washington and insisted that the central bank would be “patient” with U.S. economic developments. Powell’s commentary was bolstered by Vice Chairman Richard Clarida in an evening speech the same day in New York City. [Yahoo Finance]

China's Wanda files for U.S. IPO of sports unit: Chinese conglomerate Dalian Wanda Group has filed confidentially for a U.S. initial public offering of its sports unit that could fetch up to $500 million, according to sources with direct knowledge of the matter. [Reuters]

Meet some unexpected victims of the Trump shutdown: Around 800,000 federal workers are going without pay because of the shutdown that began on Dec. 22. But Congress will almost certainly reinstate their pay once the shutdown ends, as it has after prior shutdowns. For thousands of businesses affected by the shutdown, however, there’s likely to be no reparation. [Yahoo Finance]

J&J raises US prices on around two dozen drugs: Johnson & Johnson (JNJ) raised U.S. prices on around two dozen prescription drugs on Thursday, including the psoriasis treatment Stelara, prostate cancer drug Zytiga and blood thinner Xarelto, all among its top-selling products. [Reuters]

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