Welcome to Markets Desk, your midday read on what's moving money and markets.
Cotton futures took a hit in Wednesday's session, with front-month contracts sliding between one hundred eighty-seven and two hundred forty-seven points. Crude oil extended its pullback, dropping another three dollars and thirty-four cents to settle just under seventy dollars a barrel, while the dollar index continued its grind higher, adding to pressure on commodity prices broadly.
Shifting to the consumer, Americans are still spending, but the headline is a bit hollow. MarketWatch reports that rising consumer expenditure is largely a function of inflation rather than genuine demand expansion. With gas prices now trending lower, there may be some real relief ahead, though whether that translates into discretionary spending or simply debt reduction remains the open question.
And Apple made it official Thursday, raising prices on select Mac and iPad models by as much as three hundred dollars. CEO Tim Cook had flagged the move earlier, citing a persistent memory chip shortage driving up component costs. Notably, iPhone pricing held steady for now, but for anyone eyeing a new MacBook, the window to buy at the old price has officially closed.
That's the tape. Markets Desk, signing off the floor.
