iPhone

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.

The bitter legal dispute between Apple and Qualcomm has escalated sharply overnight as the former designs out Qualcomm components from future products. According to the WSJ, Apple, locked in an intensifying legal fight with Qualcomm, is designing iPhones and iPads for next year that would jettison the chipmaker’s components.