Stock Traders Face Pivotal Week as Apple Steals Fed Spotlight
- The world’s most valuable company delivers earnings Thursday
- Fed decision, Powell remarks and Treasury refunding all on tap
Apple iPhone 15 smartphones on sale at the company's Fifth Avenue store in New York.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
A Federal Reserve meeting typically is the stock-market story of the week. Not so this time, however, as investors are more focused on Apple Inc.’s Thursday earnings report than the central bank’s Wednesday interest-rate decision.
There’s reason for concern about Apple. The world’s most valuable company, representing 7.2% of the S&P 500 Index, is facing a slump in smartphone sales, and one of its main suppliers is under investigation in China. A revenue decline is expected for a fourth consecutive quarter, its longest streak in more than two decades.