The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
American equities head south as Trump is braced for Chinese tariffs
On Thursday, American futures were braced for a lower start because investor concern as for a probable trade conflict showed up after news that Donald Trump’s imposing duties on Chinese imports.
The S&P 500 futures inched down 0.71% showing a result of 2,699.0, Dow futures lost 0.71% trading at 24,551.0. At the same time tech heavy Nasdaq 100 futures headed south 1.15% ending up with 6,804.50.
Trump is anticipated to uncover duties targeting $60 billion in China’s imports aimed at taming theft of American technology, thus driving concerns of a global trade feud. The US President is braced for signing an order to tame China's economic hawkish advancement that is going to be levied under Section 301 of the 1974 American Trade Act.
China is all geared up towards preparing to respond via duties targeting American exports of sorghum, soybeans as well as live hogs.
Market participants were also digesting the major US bank’s interest rate lift of 25 basis points that took place on Wednesday. The bank’s move was quite anticipated. On Wednesday, hawkish tones from Fed Chair Jerome Powell pushed financial markets to the red, with extra three rate lifts anticipated in 2018.
In pre-market trade technology equities went down due to the fact news of a third-party company utilizing data mined from Facebook for the purpose of targeting political advertisements kept rocking the sphere. The social media giant inched down 1.73%, Apple lost 0.65%. As for Chinese e-commerce retailer Alibaba, it tumbled 1.68%.
In addition to this, Monsanto acquired 0.40%, clothing retailer JC Penney Company Inc Holding tacked on 2.62%.
In the European Union equities headed south. Germany’s DAX slumped 0.96%, France’s CAC 40 inched down 0.97%, while Britain’s FTSE 100 declined 0.56%. The Euro Stoxx 50 dived 0.98%.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
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.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).