A trading strategy for this market after Trump causes volatility to spike again
Trade tariff negotiations are not over yet. President Donald Trump threatened to raise tariffs up to 50% (starting June 1 st ) on the EU as talks have seemingly stalled. Equity markets immediately sold off. European equity markets tanked by 2% on the news. I want to use this surprising drop as an opportunity to create income in the S & P 500 ETF (SPY) as I believe the S & P 500 is still on track to retest its all-time highs in June. SPY YTD mountain SPDR S & P 500 ETF Trust (SPY) I'm not sure if Peter Navarro took over the White House boombox this morning, but it feels like the epic 80s Whitesnake song titled, "Here I Go Again," was blaring and put some spirit into POTUS and his trade tariff negotiations. Along with the EU threat, he swiveled and also posted directly at Tim Cook, threatening to impose a 25% tariff on Apple if the company does not start manufacturing iPhones domestically. Not the ideal way to kick off the holiday weekend with Memorial Day on Monday. I want to use technicals to help be my guiding light on what levels I want to utilize in selling a put spread. By selling a put spread, I define my risk, but present a bullish view as I believe this dip will be bought. The S & P 500 has bounced roughly 17.5% after the 2025 lows were established on April 7. The 200-day moving average level of $575 should serve as support as volatility comes back to the marketplace with the Cboe Volatility Index rising up to 22 off of this tariff news. The Trade Sold the $575 6/20/2025 Put for $11.50 Bought the $560 6/20/2205 Put for $7.25 Collecting $4.25 or $425 per one put spread This trade was executed when SPY was roughly trading $576 ISCLOSURES: Long SPY, Sold this put spread All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
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Apple is about to answer a burning question about its future
Apple is about to reveal what's next for its most important products at its annual Worldwide Developer's Conference on Monday. This year, the stakes are significantly higher than usual. Apple announced its long-awaited push into artificial intelligence at last year's event by introducing Apple Intelligence, a suite of AI-powered features for the iPhone and other products. But delays and underwhelming capabilities have put Apple on its back fo ot. The company has struggled to convince consumers and Wall Street that it's a leader in the crucial technology, which is expected to overhaul the way people work, communicate and find information online. Now, one year after introducing Apple Intelligence, the company is on the hook to prove at this week's Worldwide Developer Conference (WWDC), a key annual event for the company, that it can make a name for itself in the AI space as its chief rivals like Google continue to charge ahead. At this year's WWDC, which kicks off Monday with a keynote address from Apple CEO Tim Cook and other executives at 10 a.m. PT, don't expect Apple to show off a flashy new iPhone or Apple Watch. Instead, the company will outline new capabilities for its current devices that lay the foundation for where it could be going next. 'WWDC, from a developer conference perspective, is maybe more interesting than others,' said Carolina Milanesi, president and principal analyst at technology analysis firm Creative Strategies. 'It does give consumers a peek as to what they can expect coming to whatever device that they already own.' How much or how little those software updates incorporate Apple Intelligence could be telling. Apple did not immediately respond to CNN's request for comment regarding its WWDC plans and AI strategy. Apple's AI struggles are larger than just a product delay. The bigger issue is that Apple's current AI tools don't offer experiences that are notably different from what you can get elsewhere. Apple Intelligence can summarize text messages, identify real-world surroundings with the iPhone's camera, erase unwanted objects from photos, rewrite emails and prioritize notifications. But those features are similar to capabilities offered by other companies such as Google, OpenAI and Samsung. In fact, rivals like Google and OpenAI are already moving one step further with technology they claim can execute tasks for consumers rather than just answering questions or generating summaries. There are benefits to waiting; Apple has largely been able to avoid the embarrassing AI gaffes of its rivals, with one exception. Apple is also known for popularizing new technologies rather than being first, as was the case with smartwatches and tablets, two categories it now dominates. But Apple has yet to prove it can do the same with AI. And it doesn't sound like that's going to change at WWDC, according to Bloomberg's Mark Gurman, who wrote the event 'may be a letdown from an AI standpoint,' citing 'people within the company.' However, the report did say Apple may open its models to developers so that non-Apple apps can incorporate text summarization and its other AI-powered features. The company may also announce an AI-powered battery management tool, according to Bloomberg. But Dan Ives, global head of technology research for Wedbush Securities and an Apple bull, isn't concerned about whether Apple makes significant AI announcements on Monday. He thinks Apple has a big opportunity to monetize Apple Intelligence moving forward despite its slow rollout, he wrote in a June 6 report. Google, whose Android operating system is the only major rival to Apple's iOS, has been barreling ahead with new AI tools and services. Its annual I/O developers conference was entirely focused on AI, with the company showing how the tech will be incorporated into everything from its ubiquitous search engine to its popular Chrome browser and Gmail. At that event, Google also announced an upgraded version of its AI-generated video engine that made headlines and raised alarm for its ability to create startingly realistic clips. 'I think it's becoming clearer how far behind they (Apple) are in AI,' Deepwater Asset Management managing partner Gene Munster told CNN in March. Samsung is also said to be partnering with AI startup Perplexity to package its app and digital assistant into its Galaxy phones, according to Bloomberg. This comes after Motorola incorporated AI technology from several companies, including Perplexity, on its new Razr flip phone – further underscoring that the technology could play a bigger role in smartphones. That presents a major opportunity for Apple; it's the world's second-largest phone maker by market share and also the only mobile device company to completely control both the hardware and software of its products. That crucial benefit has long been an advantage for Apple, giving it more freedom to develop exclusive features tailored for its products on its own timeline rather than coordinating with partners. Wedbush Securities estimates that '25% of the world's population will eventually access AI through an Apple device over the next few years,' Ives wrote. But Apple has yet to execute on that potential with AI, and the clock is ticking. 'We need more time to complete our work on these features so they meet our high quality bar,' Apple CEO Tim Cook said in reference to the more personal version of Siri on the company's May earnings call. 'We are making progress, and we look forward to getting these features into customers hands.' There's a growing belief in the tech industry that some new type of device could one day supplant, or at least partially replace, the smartphone. And those devices, unsurprisingly, will largely run on AI. Eddy Cue, the longtime Apple executive that leads the company's services division, even acknowledged this, saying during his testimony in Google's search antitrust trial that 'you may not need an iPhone 10 years from now,' Bloomberg reported. Veteran former Apple designer Jony Ive and OpenAI CEO Sam Altman are also partnering to develop a new AI hardware product, the pair announced last month. Companies like Google, Samsung and Meta are also investing in smart glasses with built-in digital assistants that can identify objects in a person's environment as a potential successor to the smartphone. That doesn't mean iPhones will become obsolete anytime soon, nor does it mean consumers will switch to Android or avoid upgrading because of a lack of new AI features. But in the near term, AI could give Apple another means to encourage iPhone upgrades if executed properly. Apple Intelligence is only supported on newer models, specifically the iPhone 15 Pro and later, meaning customers with older phones must upgrade to use it. Apple touted the iPhone 16 as being 'built for Apple Intelligence' when announcing the device in September. Cook said during Apple's most recent earnings call that year-over-year iPhone 16 performance was stronger in countries where Apple Intelligence was available than those where it was not available, perhaps an indication that its AI efforts are somewhat helping sales. The fact that people carry their iPhones – along with their AirPods and Apple Watch – everywhere they go could give Apple's Siri a leg up compared to rivals like Amazon's Alexa. That is, if Apple does it right. 'The fact that Siri knows me so much more, just because my main driver, from a phone perspective, is an iPhone will make that interaction even more valuable than what Alexa does,' said Milanesi. '(Alexa) sees me in my home context, but doesn't necessarily come with me in the outside world. So that is the potential right now.'
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28 minutes ago
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American presidents have long used autopens. Just ask Trump.
Donald Trump has repeatedly slammed Joe Biden's use of an autopen during his presidency, going so far as to center its usage in a broad investigation Trump announced Wednesday into his predecessor. But politicians on both sides of the aisle are deeply familiar with the tool. The autopen — also referred to as the robot pen — replicates an individual's signature using a writing utensil, rather than a scanned and printed version of it. The tool, which resembles a small printer with a long arm that allows users to attach a pen to the center, has a long history of use in American politics. The device was first patented in 1803, according to the Shapell Manuscript Foundation, an independent research organization that collects original manuscripts and historical documents. Iterations of the autopen have been used by presidents as far back as Thomas Jefferson, who wrote that 'I could not, now therefore, live without' the device he used to duplicate letters. 'The Autopen has long been a tool for the world's most influential leaders, allowing them to more effectively apply their time and attention to important issues without compromising the impact of personalized correspondence," according to The Autopen Co., which sells the machines. U.S. leaders on both sides of the aisle have used the autopen for decades — and have faced criticism for their use of the tool. During Lyndon Johnson's administration, the autopen was featured in The National Enquirer for an article headlined 'One of the Best Kept Secrets in Washington: The Robot That Sits In For The President.' Even Trump himself has said he used autopens, but 'only for very unimportant papers.' 'We may use it, as an example, to send some young person a letter because it's nice,' Trump said in March, according to The Associated Press. 'You know, we get thousands and thousands of letters, letters of support for young people, from people that aren't feeling well, etcetera. But to sign pardons and all of the things that he signed with an autopen is disgraceful.' In 2004, George W. Bush's secretary of Defense, Donald Rumsfeld, faced criticism from some veterans for using an autopen to sign condolence letters to families of troops killed in the Iraq War. In 2011, Barack Obama used an autopen to sign a Patriot Act extension — becoming the first known, apparent use of the tool by a president for legislation — and used it subsequently in his administration. The move resulted in Republicans questioning the constitutionality of Obama's decision, though Bush's Office of Legal Counsel, which is part of the Department of Justice, had already concluded the use of autopens was constitutional. 'The President need not personally perform the physical act of affixing his signature to a bill he approves and decides to sign in order for the bill to become law,' the office's 2005 ruling stated. "Rather, the President may sign a bill within the meaning of Article I, Section 7 by directing a subordinate to affix the President's signature to such a bill, for example by autopen.' There is no specific law governing a president's use of an autopen. But the ruling from the Department of Justice hasn't stopped Trump from accusing Biden and his team of illegally using the tool, alleging that Biden's team used an autopen to sign documents without Biden's permission or knowledge. Trump has also claimed that Biden's round of pardons — including 'preemptive pardons' of Jan. 6 investigators, his son Hunter Biden and Anthony Fauci — were illegal and are 'void' and 'vacant.' However, most legal scholars are in agreement that pardons cannot be overturned once granted. In 1869, a federal court ruled, 'The law undoubtedly is, that when a pardon is complete, there is no power to revoke it, any more than there is power to revoke any other completed act.' Biden has denied the claims that any decision was ever made or issued in his name without his approval or knowledge. Trump and other Republican accusers have provided no evidence that aides used an autopen without the former president's approval. 'Let me be clear: I made the decisions during my presidency,' Biden told POLITICO in a statement. 'I made the decisions about the pardons, executive orders, legislation, and proclamations. Any suggestion that I didn't is ridiculous and false. This is nothing more than a distraction by Donald Trump and Congressional Republicans who are working to push disastrous legislation that would cut essential programs like Medicaid and raise costs on American families, all to pay for tax breaks for the ultra-wealthy and big corporations.'
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5 Amazing Tech Deals To Buy at Walmart This June
Walmart is offering great deals on smart watches, AirPods and more. Kick off summer by picking up the gadget you've been eyeing for a killer price. For You: Read Next: Read on to find out what's discounted, and by how much-some deals are for hundreds off the original price. Price: $26.99 (reg. $199.99) Don't want to dish out Apple prices for a smart watch? The Mingdaln watch is the way to go. Originally $199.99, this watch is going for almost $200 off. Features include compatibility with Android and Apple devices, wireless calling, messaging notifications, fitness tracker and customizable watch face. Customers say it pairs easily with devices, and performs above and beyond what the low price would suggest. Consider This: Price: $199.00 (reg. $239.00) Originally, the Apple AirPods Pro 2 sold for $239 at Walmart, so this nets a fair amount of savings. Customers will appreciate the hearing health features the headphones have, including a scientifically-validated hearing test and active hearing protection. These AirPods also provide Active Noise Cancellation, a customizable fit and compatibility with Siri. Price: $178.00 (reg. $329.00) Watch TV with refreshingly sharp detail and elevated sound with this onn Smart TV. You'll also get access to Roku TV, which you can control from an app on your phone for even more ease. Customers say the TV is very user-friendly, provides great image and sound quality and has a sleek design. For $151 off the original price of $329, buying this seems like a no brainer. Price: $219.00 (reg. $269.00) Students looking for a new laptop will be pleasantly surprised at this price drop from $270 to $219. This HP laptop has 10 hours and 45 minutes of video playback battery life. Another feature is the AI-powered Microsoft Copilot assistant with the Copilot key that gives users answers to any questions they have. Buyers will also receive a one-year subscription to Microsoft 365. Price: starting at $25.12 (reg. $49.99) Depending on the color you choose (with white being the cheapest), you can save $30 or more off the original price of this multifaceted 5-in-1 charger. It can charge certain iPhones, Apple watches, Samsung tablets and AirPods, to name a few. It can charge up to five devices simultaneously in less than three hours, as well. It also comes with a USB to Lightning cable for charging iPads and a Type-C to Type-C cable for charging Android devices. One of more than 700 5-star reviews reads 'I bought 2 other cheap chargers that were very difficult to get to charge. This one is very simple to use: put the phone in the tray and it charges. No problems.' Disclaimer: Prices and availability accurate as of June 5, 2025 and subject to change. Photo disclaimer: All imagery sourced from More From GOBankingRates 8 Dollar Tree Items Retirees Need To Buy Ahead of Summer 2025 Here's the Minimum Salary Required To Be Considered Upper Class in 2025 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on 5 Amazing Tech Deals To Buy at Walmart This June
