Apple's Foldable iPhone Saves the S&P 500 From a Chip-Fueled Rout

Apple surged 4% on reports of expanded foldable iPhone production for 2026, adding $182 billion in market cap and offsetting broad tech weakness. However, a weak June jobs report (57,000 new positions vs. 110,000 expected) and semiconductor selloffs, including Micron's 5.8% decline, created mixed market signals with the Dow gaining 0.7% while the S&P 500 and Nasdaq fell.