Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
AMAZON: doing well, thank you
Amazon stock is at its all-time highs above $2,400.
Just in case you were cautious about the stock market re-gaining the February-March losses so rapidly, have a look at Amazon stock price.
It’s not only a V-shape recovery – the price crossed the trend resistance line, which would be there if no crisis happened. Amazon simply says “I don’t care, and by the way, thank you” to the virus. It was at $2,190 before the virus, it dropped to $1,636 during the virus, and now it is at $2,400.
There should be someone out there who bought this stock at the bottom of $1,636. Well, now, just with one share of Amazon, this smart trader would have an additional $800 in the current account just out of thin air.
First of all, IT sector of the S&P is generally doing well and probably is among the best sectors in these times. Second, virus restrictions push societies to go more online so Amazon specifically gained from that. Lastly, the company recently announced hiring 75,000 employees, which sound very confident, especially in contrast to the dull economic outlooks voiced around.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.