Good afternoon and welcome to Markets Desk, your midday look at what's moving markets and making headlines.
The Treasury Department is stepping up its bond buyback program, announcing it will repurchase six billion dollars in U.S. government debt, topping its previously stated target. The move is aimed at managing yields, but traders appear unconvinced — markets responded with a collective shrug, leaving the effort largely without the stabilizing effect policymakers were hoping for.
Shifting to tech, Apple is holding its biggest fall event in years, and for the first time in fifteen years, a new face is running the show. CEO John Ternus, a hardware veteran who took the helm from Tim Cook, is expected to unveil a foldable iPhone alongside a broader lineup of new devices. Price hikes are also anticipated, making this event one closely watched by consumers and investors alike.
And over in fiber, Corning shares continue their climb after Verizon announced it will purchase eighty million miles of fiber optic cable from the company. That's a landmark supply agreement that signals aggressive infrastructure buildout from one of the nation's largest carriers, and it's giving Corning a sustained and meaningful lift heading into the back half of the year.
That's the tape. Markets Desk, signing off the floor.
