Good morning contrarians! Stock futures are muted a day after a Tesla ($TSLA)-fueled rally that perhaps speaks to the prevalence of risk appetite…

Apple’s ($AAPL) ‘Wonderlust’ iPhone event kicks of at 1300. Apple’s stock has been treading water heading into this event. The question is what the company can produce to impress Wall Street and get investors to buy its stock again. We’ll surely get a new iPhone, the 15th, which presumably will have USB-C charging. Other than that, details are scant.

Apple and Tesla are nice distractions and show us that the bull market for tech does have legs. The analysts pumping these (and other) stocks may be clueless, but the fact that investors use this to bid up something like Tesla tells us there is still a lot of risk appetite looking for a home…

More on this in today’s briefing/podcast, now live for premium subscribers: