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Cheap Chinese goods helped keep inflation low in the early 2000s, but at the cost of U.S. manufacturing. As those imports surge again, here’s what’s changed and what it means for American jobs...

(Bloomberg) -- Apple Inc. is seeking to get a Chinese court to alter its written ruling in a lawsuit the iPhone maker won, an unusual move that underscores the sensitivity of the US company’s position in the world’s largest smartphone arena. Most Read from BloombergDemocrats Weigh Mid-July Vote to Formally Tap Biden as NomineeUS Allies Allege China Is Developing Attack Drones for RussiaPowerful Storm Beryl Aims at Jamaica After Grenada StrikeS&P 500 Closes Above 5,500 in Record-Breaking Run: Mar...

The move will put Apple on a similar footing to Microsoft, who also has a board observer position...

On today's episode of Asking for a Trend, host Josh Lipton breaks down key trends and stories from Tuesday's trading day. As Americans kick off their holiday weekend, AAA Travel senior vice president Paula Twidale breaks down what Americans can expect from July Fourth travel. Twidale explains that American airports are gearing up for a record 70.9 million people traveling for the holiday, revealing that the pent-up pandemic-era travel demand isn't over: "Consumers are not willing to give up the respite they deserve," she says. The Pacific Northwest, theme parks, and urban cities such as New York and Chicago are particularly popular domestic destinations, Twidale notes. However, she adds that international travel is equally high. The S&P 500 (^GSPC) and Nasdaq (^IXIC) closed at record highs in Tuesday's session. Jared Blikre breaks down his three biggest takeaways from the trading day: Tesla shares closing above $200, market concentration topping the 1929 peak, and the dip in stock volatility. Rising home prices and high mortgage rates are shutting out would-be US homebuyers. Angi co-founder Angie Hicks explains that Americans who would have thought about moving are now thinking about renovation. According to Angi's home spending reports, bathrooms are consistently in the top five renovation projects, while kitchens are in the top 10. Outdoor remodeling remains popular even in post-pandemic times, she adds. Seana Smith joins the show to analyze a new Wells Fargo chart showing the potential rebalancing of earnings growth in the S&P 500 (^GSPC). Wells Fargo notes that earnings growth will broaden beyond the "Magnificent 7," while participation and profitability outside of tech and communication services will also broaden. Finally, Apple (AAPL) has secured an observer role on OpenAI's board, according to a Bloomberg report. The seat will go to Phil Schiller, Apple's former marketing chief, who will be critical in providing Apple with key insight into OpenAI. Schiller will be allowed to attend board meetings but will not be able to vote or exercise any other director powers. This post was written by Melanie Riehl...

Former Apple Attorney Hit with $1.15 Million Penalty for Insider Trading...

Apple (AAPL) is taking a new step in its relationship with OpenAI. The tech giant has secured an observer role on OpenAI's board, according to a Bloomberg report. The seat will go to Phil Schiller, Apple's former marketing chief, who will be critical in providing Apple with key insight into OpenAI. Schiller will be allowed to attend board meetings but will not be able to vote or exercise any other director powers. This move comes after Apple announced at its Worldwide Developers Conference in June that it would begin integrating OpenAI's ChatGPT into its devices. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl...

The former senior Apple lawyer who avoided prison time after pleading guilty to insider trading must pay a $1.15 million fine in a related U.S. Securities and Exchange Commission civil case, a federal judge ruled on Tuesday. U.S. District Judge William Martini in Newark, New Jersey, said that while Gene Levoff "was not living excessively, his violations were nonetheless especially egregious" given the lawyer's former role enforcing Apple's insider trading policies. Levoff had been senior director of corporate law at Apple before the iPhone maker fired him in September 2018...

This is what could happen next to Apple shares...