People walk past an Apple store on a rainy day as the new iPhone 16 series smartphones go on sale in Beijing, China September 20, 2024.
Wang Jiawei | Reuters
My top 10 things to watch Friday, Sept. 20
1. Wall Street is heading for a muted Friday open, one day after a delayed Fed-induced rally. The Dow traded and then closed above 42,000 for the first time. The S&P 500 closed above 5,700 for the first time. The Nasdaq was the big winner Thursday, surging 2.5% and getting closer and closer to its July all time highs. All three stock benchmarks are tracking for strong weekly gains.
2. Apple‘s new AI-ready iPhone 16 hit stores Friday all around the world. Wall Street analysts have been debating whether delays in the tech giant’s artificial intelligence features has hurt demand for the new device. I don’t think so based on what T-Mobile CEO Mike Sievert told me this week.
3. Nike CEO John Donahoe is retiring. He’s being replaced by company veteran Elliott Hill, who is coming out of retirement to take the top job. The Dow stock jump roughly 7.5% on the news. It was so many things that led to the end of Donahoe’s tenure. But maybe the shoes just weren’t as good anymore.
