Dow Jones futures turned modestly higher Wednesday morning, along with S&P 500 futures and Nasdaq futures, reversing slim overnight losses as Treasury yields dipped ahead of key inflation data and earnings. The stock market rally attempt had yet another weak close, finishing with slim losses Tuesday.
Apple stock retreated overnight on a report that chip shortages will force iPhone production cuts. Crispr Therapeutics (CRSP) tumbled on study results. JPMorgan Chase (JPM) and Delta Air Lines (DAL) kick off earnings season early Wednesday.
Apple iPhone Cut
Apple (AAPL) will have to cut 2021 iPhone production goals of 90 million handsets by up to 10 million handsets due to extended chip shortages, Bloomberg News reported, citing sources. The Dow Jones tech titan reportedly is telling manufacturers that Broadcom (AVGO) and Texas Instruments (TXN) aren’t delivering enough components.
Apple stock fell less than 1% in premarket…