It’s the year of smartphone price hikes

It’s the year of smartphone price hikes. A look at the S&P 500 following the initial rate hikes of six tightening cycles over the last 30-plus years showed that the broader index drops immediately in the month afterward, losing an average 3.

What happened

2% after AI slowdown call6h agoOdey loses appeal against financial services ban8h agoRAC: Fuel hits new Iran war high9h agoChina: AI warnings are 'fearmongering'9h agoUK gilt yields pushed to new highs by rising oil price10h agoEuropean tech stocks hit six-week low11h agoFull story: AI-linked stocks fall after tech bosses call for slowdown in ‘reckless’ development11h agoAirBaltic files for Chapter 11 bankruptcy protection to cut debts12h agoUK gas prices highest in close to four years12h agoASML shares hit by AI slowdown call12h agoAI victims' share prices rise12h agoIG: Tech wobbles as AI enthusiasm wanes13h agoWill AI CEOs actually slow down?

Petrol prices in the UK have hit levels not seen since 2022, and today’s hikes suggest further pain at the pump is on its way. Gas is 55% higher than six years agoGas prices have also jumped, which contributes to a higher cost of car ownership. It costs from £1,799 (€1,999/$1,899/A$2,799), which is £50 (€100/$100/A$100) more than last year as the pressure of RAMageddon continues to push up prices. Paying more for a new phone seems almost unavoidable after Apple's event today. The new iPhone 18 Pro and Pro Max start at $1,199 and $1,299, respectively – a $100 price hike over their predecessors. You can't dodge the price hike by opting for an older iPhone, either, because Apple raised prices on those by […]

Wall Street is expecting that the Federal Reserve will raise rates this week after Chairman Kevin Warsh's tough speech against inflation at Jackson Hole last month was followed by a series of hot inflation reports, a spike in oil prices and a surge in expectations for a quarter-point increase. On Monday, the 10-year Treasury yield hit 5% for the first time since 2023, a development that also hurt equities.

The wider picture

Bank of America Securities' rates strategist Mark Cabana said he expects 2-year Treasury yields would rise 5 to 10 basis points, while the 30-year rates fall just as much. But a dovish press conference in which Warsh implies the hike was unpopular, or that only a few hikes will follow, may confuse investors and send longer-dated bond yields higher. Cabana said he expects 2-year yields to fall by 5 basis points, and 30-year rates to rise by 5 basis points in this scenario.

JPMorgan's Mislav Matejka said he expects that much of the normalization of bond yields is already behind investors, which could clear the way for further upside for equities through the end of the year. The benchmark 10-year Treasury yield briefly touched the crucial 5% threshold on Monday, but it then pulled back. He spent over 15 years in the photography industry before joining The Verge as a deals writer in 2021. But it was a bitter ending, and an overpriced one as well.

Earlier this year, Dell resurrected the XPS name with the excellent (and very expensive) XPS 14 and 16.

What has been reported

99 base model with just 256GB of storage, and raised the price of the 512GB models by $100 each. Component report cardScreen: AWebcam: AKeyboard: BTrackpad: BPort selection: DSpeakers: BNumber of ugly stickers to remove: 1The XPS 13 is the nicest-looking and -feeling Windows laptop you’re going to find at this price. The models with 8GB RAM are even the same price as the Neo, at $699. Di BenedettoJun 5Apple’s $599 MacBook Neo could be at risk from rising RAM pricesStevie BonifieldMay 7Most PopularMost PopularYour car is selling your dataLG responds to TV spying allegationsWaymo pulls over, calls cops on riders with a ghost gunYour Mother Your Mother Your Mother will make you forget all about Marvel’s Blade disasterThe Steam Frame is made for irresponsible hardware nerds like meAdvertiser Content FromThis is the title for the native adMore in TechI reviewed Valve’s Steam Frame, ask me anythingValve has ported Half-Life: Alyx to ARM, and it’s free with Steam FrameValve’s Steam Frame costs $1,0595Verge ScoreThe Steam Frame is made for irresponsible hardware nerds like meAdam Conover explains how YouTube ruined everythingMicrosoft says ‘people matter more than AI’ following safety concernsI reviewed Valve’s Steam Frame, ask me anythingSean HollisterTwo hours agoValve has ported Half-Life: Alyx to ARM, and it’s free with Steam FrameSean HollisterTwo hours agoValve’s Steam Frame costs $1,059Jay PetersTwo hours agoThe Steam Frame is made for irresponsible hardware nerds like meSean HollisterTwo hours agoAdam Conover explains how YouTube ruined everythingNilay Patel3:00 PM UTCMicrosoft says ‘people matter more than AI’ following safety concernsTom Warren1:00 PM UTCAdvertiser Content FromThis is the title for the native adTop StoriesTwo hours agoThe Steam Frame is made for irresponsible hardware nerds like meTwo hours agoApple releases iOS 27 with Siri AI overhaul11:00 AM UTCWhat happens after a town de-Flocks3:00 PM UTCAdam Conover explains how YouTube ruined everythingNotifications DrawerSign in to see your notifications or create an account to join the conversation.

08 EDTShareKey events3h agoClosing post3h agoFTSE 100 closes higher on day of AI jitters3h agoBlastr Green Steel: We are disappointed3h agoECB's Lagarde: Europe faces risks of being cut off from AI4h agoReynolds: SSUK plan isn't ideological4h agoUK government moves to acquire Speciality Steel UK5h agoUS 10-year Treasury yields hit 5% in bond sell-off5h agoTrump: there's a sick conspiracy against AI5h agoUK unions to fight rollback of business regulation6h agoChipmakers among the fallers6h agoNasdaq falls 1.

SSUK has been in liquidation since last year, and was part of Sanjeev Gupta’s Liberty Steel before its recent collapse. The insolvent steelmaker, formerly part of the tycoon Sanjeev Gupta’s industrial empire, fell into administration last year and its day-to-day operations have since been run by the government’s official receiver. The move pushed up government borrowing costs to new multi-year highs, as investors anticipated central banks would hike interest rates in response.

What happens next

“With the oil price staging its own drama as the price of Brent crude edged past $108 a barrel, the impact on consumers is tough to ignore. Speaking in Vienna, Christine Lagarde warned that Europe was lagging behind in the creation of AI breakthroughs, saying: Last year the United States produced 59 notable AI models and China produced 35. Within a few years it will be screening goods at the border, deciding which tax returns are audited, dispatching trains, watching patients on wards and clearing payments at banks.

The yield, or interest rate, on US 10-year Treasury bonds has risen over 5% for the highest level since October 2023. That follows the jump in the oil price today – Brent crude is now up 4. UK bond yields are rising too – with the yield on 10-year British gilts up 7 basis points (0. TRUMP Fact check: Anthropic and the White House did fall out earlier this year, when the AI company refused to ethical guidelines on its AI systems despite the threat of severe consequences.

The report has been compiled by The Daily Waves using information reported across cnbc.com, marketwatch.com, theverge.com, theguardian.com. Details are presented according to the information available at the time of publication and may change as authorities, organisers or other relevant parties provide updates.