On Tuesday in the US, there were a number of important developments covering technology, political issues, financial markets and labor markets.
Apple unveiled its iPhone 17 line at its annual event in September, and Trump Media and Technology Group increased its focus on digital assets by introducing new incentives tied to Crypto.com tokens.
New government data also revealed that the US employment growth is significantly lower than what was previously believed, increasing pressure on the Federal Reserve.
Wall Street has managed to gain ground despite economic worries, as major indexes have all seen gains.
Apple unveils iPhone 17 lineup
Apple launched the iPhone 17 line in Cupertino, California on Tuesday. The iPhone 17 is the thinnest iPhone Apple has ever made.
Apple’s iPhone 17 Air, which is only 5.6mm in thickness, attracted the most attention, as it once again focused on design innovation.
The iPhone 17 Air is priced at $999 and sits between the iPhone 17 standard model at $799, as well as the Pro models that start at $1099.
Orders will be taken starting on September 12 and available from September 19.
Apple announced the AirPods Pro 3 along with its latest smartphones. The AirPods Pro 3 doubles noise cancellation, and also adds live translator powered by Apple Intelligence.
Apple Watch Series 11 & Ultra 3 are also new additions to Apple’s line of wearables.
Trump Media incorporates the crypto.com Token into Truth Social
Trump Media and Technology Group, parent company of Truth Social (TMTG), announced it would now reward its users with Crypto.com Cronos (CRO), a token.
This move is part a larger overhaul of platform infrastructure and services.
Truth gems will be tied to CRO Tokens for subscribers to Truth Social’s Patriot Package.
They can be redeemed through Crypto.com wallets and users receive a digital tradeable asset for their engagement.
Premium package includes features like post scheduling, editing functionality, server side drafts and better access to the conversation history.
By integrating CRO into its business model, TMTG aims at increasing user engagement and activity through incentives with real value.
US Job Growth Revised Sharply Lower
The new government data, released on Tuesday, showed that US employment growth in the period from January to March was much lower than reported previously. This has led to the expectation that the Federal Reserve will need to adjust its monetary policy earlier.
Preliminary benchmark revisions indicate that payrolls are likely to be reduced by 911,00 jobs. This is the biggest annual adjustment in history.
This translates to a reduction of 0.6% in the employment level.
Initial data indicated that employers had added about 148, 000 jobs per month, which is nearly 1.8 millions.
This revision has reduced the average number of jobs gained per month by half, indicating that they were much lower than previously believed.
Wall Street rises despite economic concerns
Investors weighed weaker employment data with strong performance of key industries to determine the U.S. equity market’s gains on Tuesday.
S&P 500 gained 0.2%; Nasdaq Composite 0.4% and Dow Jones Industrial Average 0.4%. This was largely due to a surge of 8% in UnitedHealth’s shares.
The chipmakers continue to be a major influence on the market. Nvidia, Broadcom and other chipmakers had recently driven the Nasdaq up to new highs.
Broadcom’s shares fell 2% on Tuesday, after strong gains in the two previous trading sessions. However, they have still gained 13% in the past seven days.
The post US digest: Apple launches iPhone 17, revised jobs data, Trump Media increases crypto push will be updated as new information becomes available.
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