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Apple Intelligence, Elon Musk, Fed meeting: 3 Things

Investors are still digesting Apple's (AAPL) "Apple Intelligence" showcase — an array of new AI features and use cases for the next generation of Apple products — at the 2024 Worldwide Developers Conference (WWDC).

Elon Musk took to X to express his concerns about Apple using OpenAI, threatening to ban Apple products if OpenAI's models are fully integrated into devices' operating systems.

Federal Reserve officials convene for the June FOMC meeting as investors are closely inspecting the Fed's "dot plot" to figure out how many interest rate cuts are still likely and possible in 2024.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

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This post was written by Luke Carberry Mogan.

Video Transcript

A mild reaction from investors to Apple's worldwide developers conference on Monday after new features did not meet high expectations dubbed Apple Intelligence.

The iphone maker's new A I features include an upgraded version of Siri and to deal with open A I to harness chat GP T for use on the iphone ipad and Mac products.

Introducing Apple Intelligence, the new personal intelligence system that makes your most personal products even more useful and delightful shares of Apple, mostly flat free market a little bit of pressure there after closing down 2% following Monday's announcement and Elon Musk has privacy concerns about Apple's use of Open A I on its devices and he's making it known most Musk posting on X formerly Twitter Monday night quote.

If Apple integrates the open A I at the O level, then Apple devices will be banned at my company that is an unacceptable security violation.

Apple says Siri voice assistant will be able to tap in a chat when helpful, the users will be asked before any questions are sent and privacy protections are built in for users who can access the chatbot must co founded open A I back in 2015 but stepped down from the board in 2018 and has since grown critical of co founder and Ceo Sam Altman, alleging open A I has gotten off its mission to develop A I for the benefit of humanity.

And the FED kicks off its two day policy meeting here in Washington this morning.

The central bank widely expected to hold rate steady in the range of five a quarter to 5.5% as it has done since July of 2023.

But all eyes will be on the f so called that which will give investors insight into just how many rate cuts the fed is looking at this year.

The dolo is released four times per year and investors expect that the FED will scale back the number of rate cuts to two or one from three previously projected Wall Street pricing in a less than 50% chance for the first rate cut in September.