Stocks opened mixed Wednesday following a Tuesday market close that saw all three major stock indices lower despite a slight dip in consumer price inflation.
The Dow Jones Industrial Average was down 15.84 points, the Nasdaq Composite was up 37.19 points and the S&P 500 was up 7.06 points.
Jim Cramer and Action Alerts PLUS senior analyst Jeff Marks discussed Apple (AAPL) - Get Apple Inc. (AAPL) Report, Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report, Rivian, the latest on cryptocurrency regulation following an interview with SEC Chair Gary Gensler, Macau casino stocks and much more.
Watch the full interview with TheStreet Live at 10:00 a.m. ET in the video below:
All About Apple
Reception from analysts and tech watchers alike was lukewarm as upgrades mostly focused on chip speed, camera accessories and screen sizes, TheStreet's Martin Baccardax reported.
In an interview with TheStreet Live ahead of the reveal Tuesday, Cramer warned that like the rest of market, Apple stock faces a rocky September and investors should proceed with caution.
There Will Be Buybacks
Microsoft raised its quarterly dividend rate by 11%, to 62 cents from 56 cents, payable to shareholders of record on November 18. The company announced a $60 billion stock buyback with no expiration date, which can be terminated at any time, Reuters reported.
Microsoft also named Brad Smith, its chief legal counsel, to the position of vice chairman, making his the second-highest ranked employee behind chairman and CEO Satya Nadella.
Macau casino stocks came into focus as Beijing kicked off a regulatory overhaul that could see its officials supervising companies in the world's largest gambling hub.
Macau, a Special Administrative Region of China, told casino operators current rules for gambling licenses could be revised to include "government supervision" of their day-to-day operations.
Names including Wynn Macau, China Sands, Galaxy Entertainment and Melco Entertainment lost a collective $14 billion in value.
Macau is the world's largest gambling hub.
Crypto vs. Gold: Sophie's Choice?
The debate of gold versus cryptocurrency continues as SEC chair Gary Gensler and the Senate turn their attention to cryptocurrency regulation.
In a recent column on Real Money, Jim Cramer had a very simple message: You can believe in both, while approaching the two assets differently.
"Far too often in this market I see people attacking those who they presume are wishy-washy. To me that's bush league reasoning. I think you can own both gold and crypto as hedges but you need to be realistic: gold's value is its timelessness. Crypto? It's its timeliness, and, I fear, not much more," Cramer wrote.
Rivian With a Cause
A Rivian spokeswoman confirmed to CNBC that the vehicles being produced are ready for consumer sales, but did not discuss plans for ramping up production.
Hear what Jim Cramer is only telling members of his Action Alerts PLUS investing club in Wednesday's Daily Rundown.