• The major indexes rallied on Thursday, posting their best trading days in months.
• Apple stock is down after the iPhone maker revealed its fourth straight quarter of declining sales.
• Disgraced FTX founder Sam Bankman-Fried was found guilty of all seven counts related to fraud and money laundering.

Here are the most important news items that investors need to start their trading day:

1. Summer feeling

The major indexes rallied on Thursday, posting their best trading days in months. The Nasdaq Composite gained 1.78%, notching its best session since July; the Dow Jones Industrial Average advanced 1.7% for its best day since June; and the S&P 500 added 1.89% in its best day since April. Positive economic data on Thursday suggested inflation is easing, the labor market is slowing and the Federal Reserve could be through with rate hikes. "The Fed meeting is behind us. We can now look forward to some of the economic data and see if that confirms the Fed can stay on hold indefinitely," said Megan Horneman, chief investment officer at Verdence Capital Advisors. Follow live market updates.

2. Fallen Apple

Apple stock is down in extended trading after the iPhone maker revealed its fourth straight quarter of declining sales. Revenue was down less than 1% for the period, and full-year revenue was down 3% from fiscal 2022. The company warned of a mild holiday quarter, too. Still, Apple reported a bright spot in its services revenue, up 16% year over year, and topped Wall Street expectations on several metrics. And, even with the premarket stock slip, shares of Apple are still up 36% year to date through Thursday's close for a market cap of more than $2.7 trillion.

3. Verdict in

Disgraced FTX founder Sam Bankman-Fried was found guilty of all seven counts against him related to fraud and money laundering after a weekslong trial. He now faces a maximum sentence of 115 years in prison. Bankman-Fried was accused of taking funds from customers of the FTX crypto exchange to pay for real estate, venture investments, corporate sponsorships and political donations, as well as to cover losses at his hedge fund, Alameda. Damian Williams, U.S. attorney for the Southern District of New York, called the scheme "one of the biggest financial frauds in American history" and said, "While the cryptocurrency industry might be new and the players like Sam Bankman-Fried might be new, this kind of corruption is as old as time."

4. Holiday hesitance

It's beginning to look a lot like a cautious Christmas. The National Retail Federation on Thursday estimated that while Americans are expected to spend more this holiday season than last, the rate of sales growth is likely to fall short of that of recent years. Persistent inflation, combined with dwindling savings accounts and soaring borrowing costs, will leave many shoppers hunting for deals, according to the closely watched holiday forecast. Target CEO Brian Cornell said in an interview with CNBC that shoppers are even pulling back on groceries, in addition to lighter discretionary spending. "We've taken a much more conservative approach in planning inventory this year," Cornell said.

5. Bold blend

Starbucks revealed its growth plan for the rest of the decade, and it includes a lot more cafes and a lot less spending. The coffee giant said Thursday it plans to add 17,000 locations globally by 2030 — about 15,000 of those outside the U.S. — and to cut $3 billion in costs over the next three years. About $1 billion of those savings will come from store efficiencies and the rest from costs of goods sold. It's all part of the company's "reinvention" plan, introduced by on-again-off-again CEO Howard Schultz and now shepherded by current CEO Laxman Narasimhan.

– CNBC's Sarah Min, Alex Harring, Kif Leswing, MacKenzie Sigalos, Melissa Repko and Amelia Lucas contributed to this report.

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