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 stocks head south
On Wednesday, American stocks inched down due to the fact that market participants stayed on the sidelines after a firm ascend in 2019, waiting for new developments on trade.
The S&P 500 has managed to surge by 11% in 2019 on hopes that China and America will soon conclude their fierce trade clash and the Fed is going to be less hawkish when it comes to lifting rates.
Wall Street began the trading week on an upbeat note after a report that the two sides would come to a compromise by the end of this month, although the optimism-powered ascend has since fizzled out.
The S&P 500 index is still unable to overleap a major resistance level - the 2,800-point mark. It had been concluding lower for five out of six trading sessions.
General Electric Co shares headed south by 6.1%, extending its losses from yesterday, after it reported a negative net income from its industrial businesses in 2019.
The energy sector inched down by 0.98%, which is the most impressive outcome among 11 key S&P sectors, suppressed by crude major Exxon Mobil Corp.
Exxon Mobil's 1.9% dive also put pressure on the blue-chip Dow index due to the fact that the company told it intended to ramp up its capital spending in 2020 for the purpose of restoring flagging crude and gas output.
ET, the Dow Jones Industrial Average slumped by 0.21% hitting 25,752.81. As for the S&P 500, it declined by 0.25% showing 2,782.54. Besides this, the Nasdaq Composite decreased by 0.40% being worth 7,545.98.
Dollar Tree Inc tacked on by 1.7% because the discount store operator posted better-than-anticipated quarterly same-store sales.
In addition to this, Plc rallied by 4.3%.
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.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
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.