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 edge up after American Senate passes budget plan
On Friday, Asian stocks managed to shrug off early sluggishness. They leapt, and the greenback rallied right after the US Senate officially had a budget blueprint for the 2018 fiscal year approved. The given move will enable Republicans to pursue a tax-cut package, while neglecting Democratic support.
Late on Thursday the US Senate controlled by Republicans voted for the budget measure, thus adding $1.5 trillion to the federal deficit over the next decade for the purpose of paying for proposed tax cuts.
MSCI's index of Asia-Pacific equities that scaled a 10-year maximum on Tuesday, gained 0.3%, although still moderately heading south for the week.
American stock futures soared 0.4%, while the benchmark 10-year Treasury yield grew to 2.346% versus its Thursday’s close of 2.321%.
As for stocks in New Zealand <.NZ50>, they stood still after 13 winning trading sessions.
Japan's Nikkei N225 recovered from its earlier dips and rallied 0.1%.
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.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.