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 stock indexes tack on by 1.3%-1.7%
On Monday, American stock indexes managed to ascend by more than 1%, notwithstanding the mixed statistics on the American labor market.
The previous week, the S&P 500 and Dow Jones inched down 1.2%, Nasdaq rallied 1.3%.
In April, the number of jobs in the American economy soared by about 164 thousand instead of the anticipated surge of 193 thousand. Meanwhile, unemployment dived below 4% for the first time since 2000 and accounted for 3.9% versus 4.1% in March. Market experts on average had hoped for a sag in unemployment to 4%.
The market also reacted to the US-China trade talks. Xinhua News Agency informed that China and the United States managed to come to a compromise on a number of economic and trade issues, although he didn’t specify what exactly matters are being negotiated.
According to some confidential documents that are at the disposal of Wall Street Journal and Bloomberg, the Americans insist that China should take measures to reduce the American trade deficit with China by about $200 billion by the end of 2020 versus the level of 2018 ($375 billion), and they also insist on lowering tariffs on all products to the same levels as those set in America.
On May 4 the Dow Jones Industrial Average rallied by 1.39% and accounted for 24262.51.
Standard & Poor's 500 rallied by 1.28%, being worth 2663.42.
Nasdaq Composite gained by 1.71%, hitting 7209.62.
The price of CBS securities tacked on by 9.1%. The media company posted a return to revenue in January-March and also better than anticipated earnings surge.
In addition to this equities of Celgene Corp inched up by 1.7% due to upbeat quarterly reporting of the manufacturer of medicines.
Paper Pandora Media managed to gain by 20%. In January-March Music Internet service recorded a smaller than anticipated net loss as well as increased revenue.
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.