Apple expected to unveil new iPhones in coming monthsPosted: Updated:
Unease on Wall Street continues, as a volatile summer winds down. This week ended with fed chair Jerome Powell repeating that the central bank would act as appropriate to sustain the economic expansion. But he didn't offer a clear indication that the fed was pursuing rate cuts. Just before the speech, China indicated it would press forward with a new batch of retaliatory tariffs on $75 billion worth of American goods. Beijing will also resume adding a 25% tariff on U.S. automobiles and auto parts starting in December.
Amazon is pushing into India. The e-commerce giant has taken a small stake in one of India's largest retailers -- Future Retailers. This gives Amazon the opportunity to move into brick-and-mortar stores across the country. Amazon also announced the launch of its fresh grocery business in India. This comes just one day after the company unveiled its biggest campus in the world, in the Indian city Hyderabad. Amazon has invested $5 billion in the country with plans to sink another $2 billion into building out infrastructure and logistics.
Some big releases from Apple are expected in the coming months. According to Bloomberg, three new iPhones are expected next month, including a 'pro' model with a brand new camera system. It will capture three images simultaneously and use AI to piece them together. The phone will also have reverse wireless charging that lets you use a friend's iPhone to charge your own. The phones will not have 5G. Apple is also working on a new Apple Watch with stronger software, more durable Airpods with noise cancellation and a cheaper Homepod voice assistant.
There were some positive retail earnings out this week. Target saw an unexpected 17% jump in profit for its latest quarter -- and raised its earnings outlook for the rest of the year. target also announced it will launch a new grocery line, called Good and Gather. This move is part of an attempt to bolster its own in-house brands. This comes after Target's rival Walmart also reported an earnings beat. Earnings from these companies are in tight focus, as investors look for fallout from the U.S.-China trade war.