Apple showcase and August CPI set a packed four-day market week

  • Apple is expected to showcase new iPhone models Wednesday, potentially including a foldable device.
  • Fed funds futures imply approximately a 57% probability of a rate increase.
  • OPEC+ retained October production parameters as oil markets tracked U.S.-Iran tensions and Hormuz risks.

U.S. markets face a compressed Tuesday-through-Friday trading week after Monday’s Labor Day closure, with major corporate announcements and economic indicators competing for attention. Apple’s Wednesday product showcase is expected to feature the iPhone 18 Pro and Pro Max, with speculation about the company’s first foldable iPhone and its first major launch under newly appointed CEO John Ternus. Oracle and Adobe report after Thursday’s close, while AeroVironment reports Wednesday after the market closes. Investors will focus on whether Oracle’s AI-related order pipeline is converting into cloud revenue, whether Adobe’s Firefly products are supporting Creative Cloud retention, and how AeroVironment’s $51 million U.S. Army contract affects its backlog and outlook. Thursday’s Producer Price Index and Friday’s August Consumer Price Index will be central to expectations for the Federal Reserve’s September 15-16 meeting. Fed funds futures currently imply about a 57% probability of a rate increase. Oil markets remain sensitive to U.S.-Iran tensions, possible Strait of Hormuz disruptions and OPEC+’s decision to retain October production parameters, with higher crude prices offering support to integrated producers such as Exxon while adding to inflationary pressure.

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