Good morning and welcome to Wednesday, September 13 and the ABC’s markets and business blog.

Starting overseas, and Apple finally unveiled its highly anticipated iPhone 15 overnight.

But despite the fanfare, the announcement wasn’t enough to get investors jazzed — sending Apple stocks down by 1.8% at the close, and taking Wall Street along for the ride.

The fall for Apple also comes as the tech giant battles a tougher environment, where China has expanded its ban on iPhones in government agencies, and Huawei increased its shipment target for the second-half by 20%.

That said, it wasn’t just Apple that caused losses in the US market. Oracle shares were down 13.5% (the lowest since June) at the close after the cloud software company’s revenue missed expectations.

All that negativity for tech stocks saw the Nasdaq fall by 1%.

As for the Dow and S&P500, both closed lower in response to the price of oil reaching a new high overnight.

In the past day or so, OPEC has curbed its output but upgraded its demand expectations for the rest of the year, which has sent the oil price 1.6% higher.

With oil prices likely staying higher, that brings problems for headline inflation — especially with investors awaiting the latest inflation data in the US being released at 10:30pm tonight (AEST).

It also does little to curb fears that US interest rates could stay higher for longer, which has markets *very* nervous, indeed.Loading

So, what’s in store for us today? A fall on the ASX for starters, according to futures.

Although there is no economic or corporate data to watch out for, one thing that the local market will be paying attention to is what happens in Canberra today.

I’m not talking about politics — instead, I’m talking about the High Court, where Qantas will learn if it’s convinced its judges that it didn’t break the law when it sacked around 1,700 ground staff at the height of the pandemic in 2020.

We’re expecting that decision a little later this morning, around 10am AEST — and we’ll bring you the latest news on that, and all the reaction, right here on the blog.

Feeling up to speed? That’s the spirit! Let’s grab a coffee, a bite to eat, and get into it.