Nasdaq and S&P 500 end down after hitting record highs
* Apple hits record high, JPM sees iPhone supply improving. Nov 22 - The S&P 500 ended lower and the Nasdaq tumbled deep into negative territory on Monday after both earlier hit record highs following the announcement of a second term for Federal Reserve Chair Jerome Powell.The Dow Jones Industrial Average ended slightly higher.Climbing Treasury yields kept tech stocks broadly lower, with holdouts including Microsoft and Apple, which many investors view as relatively safe, giving up gains late
EV stocks bounced in morning trading, with Lucid jumping nearly 12% and Rivian rising over 6%
EV stocks bounced in morning trading, with Lucid jumping nearly 12% and Rivian rising over 6%.Apple is back front and center of the talk in the electric vehicle sector with Bloomberg reporting the tech giant is targeting a launch of a self-driving car in four years. Apple's progress in developing a chip made up primarily of neural processors that can handle the artificial intelligence needed for autonomous driving is the driving force in pushing the Apple Car project ahead again.