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 shares keep soaring
On Monday, Wall Street opened up due to a dive in tension in the trade relations between China and America. At the beginning of the week, the market is still demonstrating an uptrend.
The Dow index soared by 0.38%, the S&P 500 managed to acquire 0.38%, while the high-tech Nasdaq 100 gained by 0.43%.
On Monday, market participants are ready to proceed with the rate hike after a steep soar in quotations by more than 2% the previous week, which turned to be the largest jump in the week since March. The Dow index is ready to ascend the eighth consecutive session.
Investor sentiment has improved in the face of the apparent warming in the trade relations between China and the United States right after US President Donald Trump told at the weekend that he’s on the verge of helping Chinese telecommunications company ZTE to resume work.
This statement was made on the eve of the second round of negotiations between America and China, which will burst out on Tuesday. However, Beijing indicated that it’s not going to change its current position in the trade conflict.
On Monday, there aren’t any plans to publish any crucial American reports, so market participants will focus on information on the pace of further interest rate lift by the Federal Reserve this year.
The financial markets have already fully taken into account the lift of the interest rate as a result of the Fed gathering that will end on June 13. As for the next lift, it’s forecast for September. However, investors are still arguing whether the fourth rate lift will occur this year in December or not.
The evergreen buck keeps diving against the basket of other key currencies. The US dollar turns to be cheaper for the fourth consecutive session.
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 dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).