Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.

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Good morning. Today is Wednesday, September 28th,

and I'm your host Julie Morgan.

Our top stories, Apple, Novavax, the SEC,

Lift, Tesla, California, Ford, and Apollo Global.

Most of the major market averages

renewed their week-long slump in Tuesday's

volatile trading session, even after equities attempted to rebound earlier.

The S&P 500 and the Dow wrapped up a choppy session in the red, while the NASDAQ was in the green.

The 10-year Treasury yield was up 10 bases points to 3.98 percent, and the 2-year yield nearly flat at 4.31 percent.

Among the 11 S&P sectors, four traded in positive territory, led higher by energy.

In reverse consumer staples was the worst performing segment on the day.

In the earnings spotlight today, Thor Industries Jeffries and Vale Resorts.

In our day watch, shares of U.S. Vaccine Maker Novavax closed about 6% higher Tuesday ending an 8 session losing streak which included a 27% drop in the last three days.

On Monday, J.P. Morgan downgraded Novavax to underweight from neutral,

citing among other things the company's long-term outlook.

On Tuesday, the shares rebounded to close 6.2% higher

at $20.4.

Apple is pulling back from plans to boost iPhone production

when an expected demand spike did not show up.

According to Bloomberg, Apple is telling suppliers to back off from an effort to boost

...