Apple’s new CEO said he will continue the company’s tradition of secrecy—and Wall Street loved it

Good morning. On Fortune’s radar today:

Apple’s loud, public secrecy.

Markets: Up, up, and away!

Yikes: Capex has been negative for six straight quarters.

The Fed considers the “h” word.

Don’t expect Congress to end the war.

The price of fried eggs in Tehran.

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A new record high in the U.S.

S&P 500 futures were flat prior to the open in New York. The index rose 1.02% yesterday to hit a new record high at 7,209.

In Europe, the Stoxx 600 was up 1.21% in early trading, but the U.K.’s FTSE 100 was down 0.66% before lunch.

Asia: Japan’s Nikkei 225 was up 0.38%. Markets in South Korea, India, and China were closed today.

Brent crude was at $111 per barrel this morning.

Bitcoin was at $77.3K.

Apple’s new CEO said nothing—and Wall Street loved it

It was Tim Cook’s 89th earnings call last night. Apple stock was up 2.8% in overnight trading after ending up 0.44% at the close of yesterday’s daytime session as investors digested yet another beat on quarterly revenue ($111.2 billion), and the company raised its guidance for future sales. CEO Cook also introduced his replacement, John Ternus, who will succeed him in September.

As is tradition, Ternus overtly insisted on saying nothing about Apple’s new product pipeline. Fortune’s Alexei Oreskovic noted that this is the time-honored way that Cook and Apple have maintained a mystique around their business: By insisting on secrecy—loudly and publicly. 

Ternus said: “We have an incredible roadmap ahead. And while you are not going to get me to talk about the details of that roadmap, suffice it to say, this is the most exciting time in my 25-year career at Apple Inc. to be building products and services.” Full transcript here.

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