 as his running mate. Fed Chair Jerome Powell said the Fed won't wait until inflation gets to its target 2% lower rates. That's long been the threshold the Fed's held onto to begin cutting the federal borrowing rate. Powell acknowledging the recent progress on inflation. Tech gains held in check by Nvidia and Amazon. The chipmaker down 0.5%. Amazon down nearly a percent ahead of tomorrow's Amazon Prime Days. Apple stock trading at $234 a share after today's gains. Morgan Stanley tapping Apple as one of the top AI picks ahead of the iPhone 16 launch.