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 jump
On Tuesday, American equities neglected a mediocre start to ascend because Intel spurred technology equities and also brought the Dow Jones Industrial Average to a record maximum.
As a matter of fact, Intel soared by 5.1%, although market experts failed to spot a fresh trigger. Some analysts suggested that the stock was recovering Friday's soar after the chip manufacturer soothed worries over its business.
Besides this, the Philadelphia SE semiconductor index tacked on by 1.20%, which is greatest profit in what’s set to be a four-day jump. As for technology equities SPLRCT, they surged by 0.48%.
8 of the 11 key S&P sectors ascended in contrast with only three gainers earlier in the trading marathon. Moreover, the materials index SPLRCM rallied by 0.53%. Tthe communication services index SPLRCL headed north by up to 0.19%.
EDT, the Dow Jones Industrial Average tacked on by 0.49% hitting 26,780.56, receding having reached a record maximum of 26,793.35. As for the S&P 500, it added 0.16% reaching 2,929.15. Tthe Nasdaq stood still, sticking with 8,041.40.
The Russell 2000 index lost 0.59%.
Financials SPSY headed south by 0.3% due to the fact that American lenders followed their Italian rivals lower right after a senior lawmaker in one of Italy's key parties told that most of Italy’s issues would be tackled if it had a national currency readopted.
As for the defensive utilities SPLRCU, they turned out to be the top performer amid sectors, adding 1.4%.
Facebook went down by 1% for the third consecutive trading session against the backdrop of ongoing calls to utilize legislation to make technology companies take responsibilities for online security seriously.
Besides this, PepsiCo went down by 0.9% because disappointing margins because of higher commodity as well as transport costs managed to overshadow a quarterly profit, which confounded forecasts.
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.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
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.