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.
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.
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.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.