Summit Daily News

Apple and Amazon reported quarterly results that met expectations, but investor enthusiasm waned, particularly after Amazon's profit guidance led to a 6% drop in its stock. Apple is anticipated to release a new AI-enabled iPhone later this year, while both companies expect increased AI spending in the second half of 2024. In the UK, the central bank cut interest rates for the first time in four years. In local news, the Summit Daily News is transitioning to a weekend edition to enhance its print offerings and adapt to the growing digital readership. Additionally, a candlelight vigil was held for a missing Huntington Beach teen, and there were reports of a possible suicide at a local mall. Moreover, a US-Russia prisoner swap is set to release Evan Gershkovich and Paul Whelan, amid discussions on Michigan's minimum wage increase.