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TheStreet’s Conway Gittens brings you the biggest news of the day, including a surprise from Apple.

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00:00Apple is ready to make its next move with the iPhone after watching sales of
00:04its most popular device fall in the latest quarter. CEO Tim Cook announced on
00:09X quote, get ready to meet the newest member of the family. If the speculation
00:13is correct, this will be the first refresh for the SE since 2022. The
00:19upgraded device is expected to look more like an iPhone 14 with a bigger screen
00:23and face ID. The animation video posted by Cook in his cryptic announcement
00:28might provide another clue. The round circle surrounding the apple logo which
00:34resembles a home button disappears. Analysts say that could be a hint. The
00:39iconic home button that's been around ever since the original iPhone launched
00:43back in 2007 is headed for extinction. Other features of the revamped se are
00:50likely to include the 18 chip currently used in the iPhone 16 according to
00:55Bloomberg News and the inclusion of Apple intelligence. So far, Apple's
01:00foray into AI hasn't paid off with a jump in iPhone sales. In the fourth
01:05quarter, Apple sold around $69 billion worth of the device, but that's a 3.5%
01:10drop from the record hit back in 2022. Apple is looking for a way to revive
01:15the device responsible for roughly half of all the money it collects. Turning
01:21to Thursday's market action, shares of Apple rallied after Cook's social media
01:25post. Tech stocks as a whole led the rest of the market higher after a round
01:29of upbeat earnings. Investors also kept an eye on the latest economic data. New
01:33applications for jobless benefits dropped last week to 213,000, a sign the
01:39labor market isn't getting any weaker. Combined with hotter inflation data,
01:44investors now see little reason to think the Federal Reserve will cut interest
01:49rates until autumn. That'll do it for your daily briefing from the New York
01:54Stock Exchange. I'm Conway Gittins with The Street.