Stocks Fall with Oil Prices Back at Record High
US stock futures fell yesterday as Brent oil prices surged back to $100 per barrel and bond yields rose. Financial analyst Jim Cramer noted that these factors are putting pressure on the stock market, according to CNBC.
Apple's highly anticipated presentation of new products was also on everyone's mind. The tech giant was set to unveil a foldable iPhone, as well as new iPhone Pro and iPhone Pro Max models. However, Cramer emphasized that pricing for these devices will be crucial, especially considering the rising costs of memory.
Meta Platforms President and Vice Chair Dina Powell McCormick spoke about the company's efforts to reduce its environmental footprint. She revealed that Meta pays directly for energy for its data centers and is working to minimize electricity costs. Additionally, the company provides bonuses to teachers and emergency service workers.