It’s another busy week, with a Federal Reserve decision on interest rates and a host of big tech earnings testing the recent rotation out of the sector. Apple (AAPL) is reportedly not initially including its AI system in its September software update; McDonald’s (MCD) misses second-quarter estimates on declining foot traffic; bitcoin (BTCUSD) is rising toward $70,000 after former president Donald Trump professed his support for cryptocurrencies at a weekend conference; Disney (DIS) has another hit movie as “Deadpool & Wolverine” records the biggest domestic opening this year; and Philips (PHG) is surging in premarket trading after a Q2 earnings beat. U.S. stock futures are gaining after shares closed sharply higher Friday on a recovery in the tech sector, strong earnings results, and encouraging inflation data. Here’s what investors need to know today.

1. Apple’s Software Overhaul Reportedly Won’t Initially Include AI System

Apple (AAPL), which is set to report third-quarter earnings Thursday, is reportedly releasing artificial intelligence (AI) features on its devices only a few weeks after its iPhone and iPad software overhauls that are planned for September. According to Bloomberg, Apple Intelligence, the company’s AI system, will be rolled out in October after the initial iOS 18 and iPadOS 18 releases. The later time frame will allow Apple to fix bugs, the report said, although software developers will have access to Apple Intelligence as early as this week through iOS 18.1 and iPadOS 18.1 betas. Apple shares are little changed in premarket trading.

2. McDonald’s Posts Q2 Miss as US Sales Dip on Falling Foot Traffic

McDonald’s (MCD) reported lower-than-forecast second-quarter results, with value-conscious consumers making fewer visits to the fast-food chain as U.S. consumers increasingly feel “tapped out.” Revenue during the quarter was essentially flat at $6.49 billion, below the $6.63 billion estimate from analysts polled by Visible Alpha, while earnings per share (EPS) of $2.80 lagged the $3.10 projection. U.S. sales fell 0.7% year-over-year, “driven by negative comparable guest counts,” McDonald’s said, offsetting gains from some price increases. The war in the Middle East and declines in China sales also weighed on overall revenue during the period. McDonald’s shares are rising less than 1% in premarket trading, however.

3. Bitcoin Jumps Toward $70,000 as Trump Backs Crypto

Bitcoin (BTCUSD) is rising 2% toward the $70,000 level after Donald Trump pledged his support for the token and crypto at the Bitcoin 2024 conference in Nashville over the weekend. The vote of confidence by Trump, the conference’s keynote speaker, marks a U-turn for the former president, who once decried the asset class as unregulated assets that facilitate illegal activities. The token is still below the $73,000 record high hit in March in the wake of the regulatory approval of bitcoin exchange-traded funds (ETFs). MicroStrategy (MSTR), one of the world’s largest holders of bitcoin, and cryptocurrency exchange Coinbase (COIN) are both up around 4% in premarket trading. 

4. Disney’s ‘Deadpool & Wolverine’ Has 2024’s Biggest Opening Weekend 

“Deadpool & Wolverine” made $205 million over the weekend in the U.S.—the biggest domestic opening this year—according to reports citing Comscore data, and the latest bonus for Disney (DIS) after the recent success of “Inside Out 2.” Marvel Studios’ “Deadpool & Wolverine” brought in around $438.3 million worldwide, the highest-grossing global opening for an R-rated film, Disney said, beating 2016’s “Deadpool” for that record. Disney-owned Pixar Animation Studios’ “Inside Out 2” recently earned over $1 billion at the worldwide box office, becoming the first movie to hit that mark since “Barbie” in 2023. Disney shares are up almost 1% in premarket trading.

5. Philips Jumps on Earnings Beat From Order Intake Rise

Koninklijke Philips (PHG) American depositary receipts (ADRs) are jumping 9% in premarket trading after the Dutch conglomerate posted higher-than-forecast second-quarter earnings on a higher order intake and insurance payments for its sleep apnea devices. Philips said that its net profit in the period was 451 million euros ($488.7 million), beating Wall Street estimates. Comparable group sales rose 2% to EUR4.5 billion ($4.88 billion), boosted by growth in North America and Western Europe while sales in China declined. In April, Philips agreed to a $1.1 billion settlement to pay out personal injury cases in the U.S. linked to the recall of some of its Respironics devices, which treat sleep apnea.