NVIDIA CEO Jensen Huang and U.S. Commerce Secretary Lutnick attended a G20 technology event in North Carolina.

1. Trump claims to be striking Iran, warning that Iran will be decimated if it retaliates. —Trump: The U.S. military is striking Iranian targets near the Strait of Hormuz. If Iran retaliates for this perfectly justified strike, it will face a much stronger and more intense strike. The final strike is brewing, and once it's over, Iran will be decimated. 2. Trump describes Iran as "crazy and stupid," threatening to wipe it out completely. —Trump: The agreement with Iran is worthless. I've given Iran many chances. Iran's (misbehavior) is simply unstoppable; they are crazy and stupid. Our strike against Iran today is very large, and if Iran makes another mistake, the country will be completely wiped out. 3. Trump to sign temporary funding bill to avoid government shutdown. —The U.S. Congress passed a temporary funding bill to avoid a government shutdown on October 1st, which has now been sent to Trump. The bill had previously been approved by the Senate, postponing the government funding dispute until after the November midterm elections. 4. Trump nominates Hung Cao as next Secretary of the Navy: "I'm pleased to nominate a true warrior—Hung Cao—as the next Secretary of the Navy. The Senate needs to confirm the nomination as soon as possible so he can continue the excellent work he's done over the past four months." 5. Trump states he hasn't tried to force Iran back to the negotiating table: "I haven't tried to force Iran back to the negotiating table. I don't care whether they sign a deal that's worthless to them. I prefer our current situation: we have almost complete control of the Strait of Hormuz, and their economy has completely collapsed." 6. Trump urges more refineries to be built, but oil companies show limited willingness to invest: "According to the Wall Street Journal, Trump urged the industry to build more refineries capable of producing fuel at a meeting of oil company executives at the White House on Tuesday, but persuading companies to do so is not easy." 7. Trump pressures refineries to increase production, biofuel blending requirements become an obstacle: "Trump urges U.S. refiners to increase domestic gasoline and diesel production." Refining executives believe that the federal government’s requirements for biofuel blending, including quotas for alternative fuels, are driving up gasoline retail prices and are questioning the government’s record biofuel blending quota targets.

[New CEO Takes Office: What Has Cook Left for Apple?] Today marks the first day that Tenus has officially succeeded Cook as Apple's CEO. Apple's current market capitalization is close to $4.8 trillion, just slightly below the peak reached at the end of July. This figure equates to a valuation more than 30 times its expected profits for next year, far exceeding the S&P 500's price-to-earnings ratio of approximately 20. From Jobs' launch of the iPhone in 2007 to Cook's first year at the helm, the company's revenue increased from $24 billion to $157 billion, and has continued to climb since. In Cook's first year as CEO, Apple sold 125 million iPhones, and is expected to sell approximately 260 million this year. According to Visible Alpha estimates, the average selling price of an iPhone this year will reach approximately $970, while it was $630 in Cook's first year, representing a 53% price increase, exceeding the 47% inflation rate during the same period. One of Cook's greatest successes for shareholders may be the significant expansion of the services business. Apple's hardware gross margin is approximately 40%, while the services business has a gross margin exceeding 75%. One of Apple's most profitable businesses is probably the more than $20 billion it receives annually from Google to make Google Search the default search engine for Safari, and that revenue is almost entirely profit.