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 futures dive on strengthening trade tensions
On Monday, American futures dived because soaring trade tensions between China and the United States kept putting pressure on market participants.
The S&P 500 futures dived by 0.58% being worth 2,786.25, Dow futures slumped by 0.70% hitting 24,933.0. At the same time Nasdaq 100 futures headed south 0.69% trading at 7,231.25.
On Friday, American leader Donald Trump came up with a 25% duty on 818 China’s goods worth $34 billion starting on July 6. In turn, China rolled out a 25% duty on American goods, including vehicles soybeans.
The two world’s leading economies have been arguing over global trade duties for several months, both refusing to have their trade differences reconciled. The duties have ramped up chances of a devastating global trade conflict because Canada and the European Union have made up its mind to effectively respond to American metal duties.
Chinese e-commerce company Jd.Com Inc Adr happened to be among the top-notch performers in pre-market trading, soaring 8.51% after Google informed it was pumping $550 million in the company.
In addition to this, Bank of America went down by 0.41% and Tesla lost 1.35%. As for General Electric, its equities headed south by 0.45%. Additionally, technology stocks dived, with Netflix sinking 0.66% and Facebook losing 0.56%. The equities of Intel inched down 0.93%.
In the European Union, equities generally dipped. Germany’s DAX edged down by 1.25%, France’s CAC 40 headed south by 1.10%, while London’s FTSE 100 decreased by 0.36%. Besides this, the European Euro Stoxx 50 slumped by 1.17%, Spain’s IBEX 35 decreased by 0.71%.
As for commodities, gold futures managed to gain up to 0.39% coming up with an outcome of $1,283.50 a troy ounce. Crude futures went down by 0.42% demonstrating $64.58 a barrel.
The US dollar index that estimates the major American currency versus its six main counterparts, declined by 0.04% reaching 94.41.
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.