Hey listeners, it's Saturday, June 15th.

I'm Francesca Fontana for the Wall Street Journal,

and this is What's News and Markets.

Our look at the biggest stock moves of the week and the news that drove them.

Let's get to it.

One interest rate cut this year.

That's the projection that traders heard from the Federal Reserve on Wednesday, despite a mild inflation report.

And for those of you keeping score at home,

that's down from an earlier projection of three rate cuts.

Now, there are ways that the Fed could

start guiding down rate expectations before it

pulls the trigger on actual cuts. If you want to hear more about that after this, take a

listen to Thursday's PM edition of What's News. I got to chat with my colleague Justin Lehart all about it.

Great stuff. Anyway, bottom line, we're still seeing caution from the Fed right now and

that caution is creeping into markets. After four sessions of the S&P 500 and the

tech-heavy NASDAQ closing at record highs, the major indexes ended the week

with a mixed day on Friday. Now as far as individual stocks go we saw a lot of buzz around AI. Then again,

when are we not seeing buzz around AI these days, right? Let's start with Apple, which on Monday unveiled its quote unquote AI, except in this case it's not

artificial intelligence, it's Apple Intelligence. Very clever. Now, Apple Intelligence is the system-wide software update for Apple devices

that would offer users a personalized version of generative AI. Investors seem

pretty stoked about this and Apple shares gained about 7% on Tuesday, reaching their first record high of the year.

Plus, the stock ended the week in the green.

...