iPhone

The moment Apple geeks were waiting for arrived this morning with the launch of the iPhone X aroudn the world. The new phone went on sale and was greeted by huge crowds outside Apple stores in some Australian and Asian cities. What a difference a month makes when we reported in "This Is Embarrassing": 2 People Show Up For iPhone 8 Launch in China.

Fortunately for Apple, which yesterday smashed expectations and reported strong guidance, the iPhone magic appears to be back as the Wall Street Journal reports:

US equity futures have hit a new records, helped by surging Asian and European stocks which have all started November on a euphoric note. Surging commodity prices, optimism about tax reform and hope for a new dovish Fed chair all combined to drive global stock markets to record highs on Wednesday, with the MSCI’s world stock index climbing 0.3% to a fresh all time high. Mining stocks lead gains as nickel and other industrial metals soar.

Via AdventuresInCapitalism.com,

Best Buy just got an Uber-sized lesson in surge pricing, and how not to do it.

Hoping to capitalize on the (reportedly) pent up interest in the iPhone X, Best Buy, which also sells all iPhone models via carrier installment plans that let customers pay for the devices over several months, decided to hike the full, upfront price by $100, with the retailer charging $1,099 and $1,249 for the two iPhone X configurations; Apple’s pricing is $999 and $1,149.

Yesterday's sharp Chinese selloff is now a distant memory after the BTFDers emerged, and this morning U.S. equity futures are once again levitating as the FOMC begins its two-day policy meeting, following an uneventful BOJ announcement on Tuesday morning which left all QE parameters unchanged. Asian stocks traded mixed steady while European shares climb.