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 start higher
On Monday, American stock index futures started higher due to the fact that Mexico and the United States were getting closer to a trade pact. It contributed to optimism about the US economy after recent reassuring remarks from Fed Chair Jerome Powell.
Mexican and US trade talks are expected to result in a common position on the North American Free Trade Agreement. Ildefonso Guajardo, Mexican Economy Minister told that negotiations have kept making progress. Negotiations are scheduled to restart on Monday.
Market sentiment was also underpinned by the fact the US government put pressure on the EU to have trade talks speeded up.
The equities of car makers General Motors, Fiat Chrysler, and Ford gained about 0.30%- 0.41% in premarket trade. As for trade-sensitive industrials Boeing and Caterpillar, they inched up by respectively 0.7% and 0.9%.
On Friday, Fed Chair Powell told that the major financial institution’s gradual interest rate lifts appeared to be the best way to protect the economic revival, maintain firm job surge and also keep inflation under strict control.
It helped the S&P 500 to conclude at a record maximum on Friday, thus confirming the benchmark index's longest bull-market marathon.
As a matter of fact, ET, Dow e-minis managed to ascend by 0.54%. Additionally, S&P 500 e-minis tacked on by 0.39%, Nasdaq 100 e-minis soared by 0.5%.
Pfizer soared by 0.9% having told that its rare-heart disease drug managed to diminish the risk of death by nearly 30%, thus spurring the prospects of what could be potentially a billion-dollar-a-year medication.
Chipotle Mexican Grill slumped by 1.4% after Wedbush had its equities downgraded, referring to higher risks to the burrito chain's near-term same-store sales as well as margin forecasts.
Tesla Inc sank by 2.6%, which is the most impressive dive among Nasdaq 100 equities.
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 United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
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?