Monday's Must-Read News: Apple, J&J, and Redfin

Title: Monday's Must-Read News: Apple, J&J, and Redfin

Every year, tech giant Apple prepares to refresh its iPhone devices. Analysts question Apple's prospects and warn investors about the stock. This year, the company will likely refresh its iPhone, Watch, and AirPods. Mark your calendar for September 10. The new products should encourage customers to upgrade their devices.

Pharmaceutical giant Johnson & Johnson (JNJ) is expected to continue its strong performance on the stock markets. The firm is negotiating with lawyers who are against its proposed talc settlement worth $6.5 billion. If 75% or more talc claimants vote for the settlement, J&J will place its talc subsidiary into bankruptcy. For the week ended August 23, 2024, JNJ stock traded higher for eight straight sessions.

Real estate company Redfin (RDFN) jumped by 18.88% last Friday to close at $11.08. It touched a fresh 52-week high despite reporting no fundamental news. Investors jumped on the real estate stock after Federal Reserve Chair Jerome Powell hinted strongly that the central bank would cut interest rates. Lower rates would stimulate home sales.

In July, existing home sales increased by 0.6% sequentially. Mortgage rates fell in the period and will fall even more in August. While home prices are near record highs at an average price of $439,170, affordability has not changed. Would-be homeowners will wait for rates to fall by even more.