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.
Asian equities jump, as Chinese stocks extend their revival
On Wednesday, Asian equities ascend because Chinese markets managed to extend their recovery to reach 8-week maximums on fading worries about the trade conflict and also hopes that China's weight in the global benchmark is going to rally.
Spreadbetters actually expected European equities to start intact to firmer, with the UK’s FTSE nearly intact, Germany's DAX soaring by nearly 0.2% as well as France's CAC adding by 0.05%.
As for other markets, they were more subdued because American bond yields rallied getting closer to a 7-year maximum ahead of a widely anticipated rate lift by the Fed, while crude prices jumped to 4-year maximums.
MSCI's index of Asia-Pacific equities rallied by up to 0.5%, while Shanghai equities leapt by about 1.55%.
Japan's Nikkei tacked on over 0.3%, hitting its highest value since late January.
Besides this, Wall Street equities were mixed overnight due to the fact that leaps in energy equities on higher crude prices as well as gains in consumer discretionary equities following firm American consumer confidence were compensated by dips in many other sectors.
American consumer confidence hit an 18-year maximum, thus contributing to a bunch of recent reports that pointed to the firm American economic momentum, notwithstanding fears about trade conflicts American leader is waging.
Besides this, the Dow Jones Industrial Average inched down by 0.26%. The S&P 500 decreased by 0.13%, while the Nasdaq Composite acquired 0.18%.
The utility sector, often considered to be an alternative to bonds due to the relative steadiness of their business, turned out to be the worst performer because market participants braced for a rate lift by the key US bank later on Wednesday.
The benchmark 10-year Treasury yield jumped to 3.113%, approaching its seven-year maximum of 3.128% hit on May 18.
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.
Last week was full of surprises! Stock indices have shown significant growth…
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).