The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Asian equities decline on China gloomy data
On Tuesday, Asian stocks slumped because traders watched for tax reform developments in America and digested poor manufacturing data from China. Japan's Nikkei 225 stock index stood still being worth 22,380.01 having traded in rather a narrow margin.
Hong Kong's Hang Seng index was intact too, showing 29,177.14. Australia's S&P/ASX 200 lost 0.9% trading at 5,968.70. In South Korea, Kospi decreased 0.2% being worth 2,526.65. As for the Shanghai Composite index, it lost 0.5% trading at 3,429.74. However, equities in Taiwan as well as Southeast Asia mostly grew.
The Standard & Poor's 500 index tacked on 0.1% hitting 2,584.84. The Dow Jones industrial average managed to rally 0.1% trading at 23,439.70. Additionally, the Nasdaq composite acquitted 0.1% reaching 6,757.60. The Russell 2000 index of smaller-company stocks stood still demonstrating 1,475.07. More equities went down than grew on the New York Stock Exchange.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
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.
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.
Every week we expect many interesting events that can shake the market.