ATB Rundown: Banning gas-powered cars in CA?; Apple’s new iPhone; student loan debt cancellation


California makes a move to ban gas-powered cars. And Apple is ready to show-off its latest iPhone. Investors seemed pleased with President Biden’s plan to cancel $10,000 of student loan debt per borrower. And it showed on the markets today.

The Dow gained 59 to close at 32,969
The S&P gained three tenths of a percent, or 12 points.
The Nasdaq finished the day up 50 points.

A lot of housing news these days. Today we learn home prices fell for the first time in 3 years last month. In fact, it was the biggest drop since 2011. Also, pending home sales slipped 1% in July, but now many realtors say the housing market may be “at or close to the bottom.”

California will reportedly become the first state to ban the sale of new gasoline-powered cars by 2035. The move could play a big role in the *nation’s transition to electric vehicles, because as California goes, so usually goes the nation.

Apple will show off its latest iPhone 14 on September 7th. At the press event, Apple is also expected to debut new Apple Watch and Airpods models as well. The new iPhone will have better cameras and get rid of that pesky notch at the top of the screen.

From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.