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 go down
On Wednesday, American futures dipped because market participants weighed the very possibility of American leader following through on his initiative to slap another batch of US levies on Chinese products as soon as a public comment period concludes on Thursday.
Facebook and Twitter attracted much attention because their top executives had to face the US Congress over their inability to cope with everlasting foreign efforts to impact American politics.
Facebook headed south by 0.7% during premarket trade. Twitter sank by 0.5%. As for Snap Inc, it inched down by 0.8%.
Besides this, tariff fears put pressure on trade-sensitive businesses, with Caterpillar as well as Boeing sliding by respectively 0.4% and 0.6%.
Consultations on an American proposal to slap levies on $200 billion more in China’s products is expected to end on September 6. US leader is willing to put these duties as soon as the comment period is over.
Canada and the United States are going to resume negotiations to clarify disputes on revamping the North American Free Trade Agreement, notwithstanding Trump's threat to proceed with trade deals with just Mexico in a bilateral pact.
Dow e-minis decreased by 0.29%. As for S&P 500 e-minis, these futures dived by 0.20%. Nasdaq 100 e-minis lost 0.23%.
As for other equities, Nike headed south by 0.13%, still getting blows from a social media backlash right after it picked up Colin Kaepernick, the first NFL sportsman to desecrate the national anthem by kneeling down, to participate in a fresh advertisement campaign.
Meanwhile, General Electric headed south by 1.5% because brokerage UBS had its price objective on the stock cut on fears over the company's power business.
In addition to this, JD.com slumped by 4.5%.
Besides this, market participants are waiting for a report from the Commerce Department on the monthly international trade deficit for July.
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 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.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.