Apple's stock price surged today. The "Hi, Speed!" event is coming. How do we benefit from it?
American equities are braced for new leaps
On Friday, American equities were about to proceed with their winning marathon, firmly making their way towards good weekly profits because market participants were geared up for bank earnings and temporarily neglected the everlasting trade conflict between America and China.
The Dow Jones Industrial Average soared by 0.3% being worth 24,959. The S&P 500 index managed to ascend by 0.2% trading at 2,803.25. The Nasdaq-100 index NQU8 gained 0.3% showing 7,406.50.
The revenues showed up after Thursday’s positive trading session, when the Nasdaq Composite Index went up by 1.4%, thus demonstrating its first greatest win since June 20. In addition to this, the Dow along with the S&P 500 concluded the trading marathon 0.9% up.
By the way, on Thursday, all three benchmarks seemed to be making their way towards firm weekly revenues. On Thursday, the S&P gained 1.4%, the Nasdaq added 1.8%, while the Dow jumped 1.9% for the week.
It has become known that Beijing and Washington are on the verge of resuming trade negotiations that could bring a long-awaited pact and stop this everlasting trade conflict.
Market participants focused on the second-quarter earnings season. Such key financial institutions as Citigroup Inc. C, Wells Fargo & Co. WFC and JPMorgan Chase & Co. JPM are expected to post their results that could potentially assist in setting the tone for the entire reporting season.
The equities of Johnson & Johnson JNJ headed south 2.2%.
AT&T Inc. T inched down approximately 1.6% after on Thursday the Department of Justice filed for an appeal of a ruling, which allows the telecoms major to have Time Warner Inc acquired.
As for Asian markets, they concluded generally up. The Shanghai Composite Index SHCOMP headed south nearly 0.23% because China’s imports rallied less than anticipated in June.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.