TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Huawei’s answer to the iPhone 16.
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00:00I'm Conway Gittens reporting from the New York Stock Exchange. Here's what we're watching on
00:03the street today. It was a mixed session on Wall Street with bank stocks falling hard
00:09after warnings from JPMorgan Chase and Goldman Sachs while tech stocks lifted the rest of the
00:14market. Investors look ahead to a clue on inflation Wednesday with the release of the
00:18August Consumer Price Index. The report is one of the final snapshots before the Federal Reserve's
00:24September meeting where policymakers are expected to lower interest rates. Elsewhere in the business
00:30world, it's the battle of the AI phone debuts. Just hours after Apple took the wraps off its new
00:37AI-powered iPhone 16 lineup, Huawei's Mate XT has been five years in the making and is on the
00:43cutting edge of screen technology and hinge functionality. When all three panels are unhinged,
00:49the phone boasts a 10.2-inch screen while the two-panel display clocks in at 7.9 inches.
00:56In comparison, the new Pro Max has a 6.9-inch screen. Huawei's AI features go head-to-head
01:02with Apple's. According to Engadget, there's, quote, a voice input function that can polish
01:07and translate a transcript. There's the option to have a chatbot open on one side of the screen to
01:12answer questions and summarize articles. There's an AI photo editing tool, too. The battle lines
01:19are set. Huawei has been stealing market share from Apple inside China, the world's biggest
01:24smartphone market. Meanwhile, Apple has the home advantage inside the U.S. since the government ban
01:30on Huawei devices means the Mate XT won't be available here. And that'll do it for your
01:36daily briefing from the Newark Stock Exchange. I'm Conway Gittens with The Street.