Business & Finance
Jim Cramer outlines top stock market factors to watch
Oil price spikes from Middle East tensions, corporate earnings, and administrative transitions at Apple top the agenda for Wall Street's final day of August.
The short version
- U.S. stock futures are grappling with nearly 4% gains in crude oil prices following an exchange of military attacks between the U.S. and Iran.
- August 31 marks Tim Cook's final day as CEO of Apple, ending a historic leadership tenure.
- OpenAI has terminated its contracts with the AI code editor Cursor after its acquisition by Elon Musk's SpaceX, citing compliance and trust concerns.
Key facts
- Oil prices rose nearly 4%, pushing Chevron's stock above $200, after the U.S. and Iran exchanged direct attacks for the first time since July.[CNBC]
- President Donald Trump has threatened to strike an Iranian oil hub due to growing frustration with slow-moving sanctions.[CNBC]
- August 31 is the official final day of Tim Cook's tenure as CEO of Apple.[CNBC]
- OpenAI canceled its agreements with Cursor because of its acquisition by SpaceX, with OpenAI claiming it lacks confidence that SpaceX will respect its terms of service based on past experience with Elon Musk's firms.[CNBC]
- Major upcoming corporate events for the week include earnings reports from Broadcom and Palo Alto Networks, alongside CrowdStrike's Fal.Con conference.[CNBC]
What remains uncertain
- Whether the S&P 500 and Nasdaq, which rose 3% and 4% respectively in August, can sustain their upward momentum through September, historically the most challenging month for Wall Street.[CNBC]