On one hand, there’s much to like about the market environment. Inflation is relatively steady, interest rates are range bound, and earnings are robust,” Sandven said. “Conversely, you’ve got Middle East conflict, the Middle East conflict that continues, and that’s pushing oil prices higher, which of course is inflationary.” Hyperscaler and other artificial intelligence-related companies’ earnings also colored investor sentiment. Apple was more than 9% lower. The firm’s fiscal third-quarter revenue topped expectations, helped by a 22% jump in iPhone sales, though a shortfall in service revenue pushed its stock lower. $AAPL
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