Apple Inc AAPL.Odipped 1%, with the iPhone maker is set to report quarterly results after the closing bell, including an update on its funds set aside for buybacks. The Fed on Wednesday raised interest rates by 25 basis points, while Chair Jerome Powell said that it was too soon to say with certainty that the rate-hike cycle was over as inflation remains the chief concern. Data on Thursday showed the number of Americans filing new claims for jobless benefits increased last week as the labor market gradually softens amid higher interest rates, which are cooling demand in the economy.