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 tack on
On Tuesday, American futures managed to ascend because Canada and America are anticipated to resume negotiations over a trade deal.
The S&P 500 futures tacked on by 0.09% showing 2,901.25. Dow futures soared by 0.08% reaching 26,099.0. Additionally, the Nasdaq 100 futures jumped by 0.18% hitting 7,582.0.
On Monday, all three indexes concluded at record maximums, reacting to news that Mexico and America came to a compromise that would potentially replace the North American Free Trade Agreement. Eventually Canada has been excluded from the negotiations since July, although the three states are trying to close a deal by the end of August. American leaders Donald Trump warned that he could still slap duties on Canadian cars if they reject the new deal.
While second quarter profits have winded down, Best Buy Co Inc as well as Tiffany & Co are anticipated to report their revenues ahead of the starting bell.
In addition to this, Netflix happened to be among the top performers in premarket trade, soaring by 0.69%. Meanwhile, Intel rallied by 0.27%, Advanced Micro Devices Inc ascended by 1.11%.
Besides this, Tesla headed south by 0.08%, Coca-Cola dipped by 0.26%.
Market participants are waiting for economic news, in particular consumer confidence. Besides this, they are awaiting the goods trade balance for July.
In the European Union, equities were generally mixed. The DAX jumped by 0.19% in Germany, while the CAC 40 rallied by 0.26% in France. The FTSE 100 jumped by 0.36% in the United Kingdom. Meanwhile, the Euro Stoxx 50 declined by 0.01%. The IBEX 35 dipped by 0.43% in Spain.
As for commodities, gold futures managed to gain 0.35% concluding at $1,220.30 a troy ounce. Besides this, crude futures tacked on by 0.22% trading at $69.02 a barrel.
Tracking the greenback’s purchasing power versus its main rivals the US dollar index dipped by 0.13% trading at 94.55.
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 US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
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.