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 inch up on midterm election outcomes
On Wednesday, American futures managed to ascend because midterm elections played out exactly as anticipated, with Congress divided after Democrats grasped the whole House of Representatives, although Republicans managed to take over the Senate.
As a matter of fact, the S&P 500 futures jumped by 0.75% being worth 2,779.75. Dow futures ascended by up to 0.60% ending up with 25,794.0. As for Nasdaq 100 futures, they added 1.05% showing 7,090.25.
In general, investor confidence was backed after the midterm elections because a gridlock in Congress has always provided great returns to equity markets.
The outcomes turned out to be in line with estimates.
Notwithstanding the split, US leader told that the elections happened to be extremely successful.
In addition to this, the key US bank is starting its two-day policy gathering. While no rate lift is anticipated, market participants actually expect the main US financial institution to have rates lifted in December.
Earnings season is still on, with outcomes from Twenty-First Century Fox Inc, Office Depot Inc, Qualcomm, Humana as well as many others.
Besides this, cloud communications company Twilio Inc managed to rally by up to 16.87% due to the fact its profits appeared to be higher than anticipated. Meanwhile, General Electric surged by nearly 2.44%, while Apple added 1.09%. As for Intel, it soared by up to 1.44%. Microsoft inched up by nearly 1.28%. Moreover, JPMorgan gained 0.91%.
Aside from that, Zillow Group Inc dived by 19.39% because its third quarter profit missed forecasts. Sprint Corp declined by 2.90%, DexCom Inc lost nearly 2.23%.
Gold futures headed north by up to 0.97% being worth $1,235.70 a troy ounce. As for crude futures, they surged by 0.74% trading at $62.67 a barrel.
Evaluating the purchasing power of the major American currency versus its primary counterparts the USD index slumped by 0.62% trading at 95.52.
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 situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.