What will move the market on October 18-22?
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 futures inch up as House approves tax bill
On Wednesday, Wall Street was set to start higher because Congress is supposed to vote on the final passage of the most ambitious tax overhaul for the last 30 years.
The S&P 500 futures rallied 0.29%, Dow futures tacked on 0.31%. At the same time tech heavy Nasdaq 100 futures acquired 0.35%.
Congress is believed to vote on the tax reform bill once again on Wednesday, right after lawmakers dared to have a Senate procedural measure violated. Donald Trump tweeted that if it’s passed, a White House news conference will be held at about 1:00 PM ET.
The tax bill would reduce corporate taxes from 35% to 21% that might encourage big businesses to spend more, thus stimulating the US economy.
Semiconductor Micron Technology Inc turned to be among the top winners in pre-market trading, soaring 6.64% after a firm first quarter earnings publication. At the same time beer maker Anheuser-Busch Inbev SA edged up 0.74%, IT firmGridsum Holding Inc tacked on 15.38%, On Track Innovations Ltd headed north 4.84%.
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What to expect from Microsoft event?
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Apple event surprised traders
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.
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Assets Won’t Survive This Week
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Post-Fed Releases for USD & CAD Traders
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
FED and BOE Make Another Attempt to Beat Inflation
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.
