Morning Business Report: Apple unveils iPhone 17 Air as markets hit new highs, lumber prices fall, McDonald’s brings back value meals

Apple is set to showcase its thinnest and lightest iPhone yet at its big event today.

(LILAMAX)- Apple is set to showcase its thinnest and lightest iPhone yet at its big event today. The iPhone 17 Air marks the company’s first major redesign in years, featuring a slimmer frame while maintaining a 6.6-inch screen. The device is expected to sacrifice some battery life and include just a single rear camera.

Elsewhere in the economy, lumber prices have dropped 24 percent since early August, as mills cut production amid tariff uncertainty and a slowdown in building. Analysts warn that plunging wood prices have historically signaled trouble ahead for the housing market and broader economic activity.

On Wall Street, the Nasdaq closed at a record high to kick off the week. Investors are bracing for two key inflation reports expected in the days ahead.

In the fast-food world, McDonald’s has revived its Extra Value Menu for the first time since 2019. The lineup features eight meal deals that bundle staples like the Big Mac, Chicken McNuggets, Egg McMuffin, and Quarter Pounder with a side and drink. The chain says the deals will save customers up to 15 percent compared to buying items separately.

A new survey suggests confidence may be built at home—literally. Research from Talker Research for Dremel, which polled 2,000 Gen Z and millennial homeowners and renters, found that completing DIY projects boosted happiness, satisfaction, and confidence for about seven weeks. The effect was seen regardless of whether participants owned or rented their homes.