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 seesaw
On Thursday, Asian equities seesawed, with China extending losses because market participants fretted about decelerating global surge against the backdrop of soaring American interest rates as well as trade tensions.
American stock futures went down following a bounce in Wall Street overnight, thus affecting fragile investor sentiment after October’s rout and abrupt sell-offs for the last time.
MSCI's index of Asia-Pacific equities slumped having soared by 0.2%. In November, the index generally held up following three monthly dives in a row. However, it’s on track for its worst annual dive since 2011.
As for Japan's Nikkei, it rebounded from morning maximums. Chinese equities generally slumped having started higher, with the blue-chip index decreasing by 0.8%. The Hang Seng index went down by 0.1% in Hong Kong.
The China-US trade conflict is still the number one concern for financial markets. Moreover, traders are also worried by weakening corporate revenue, abrupt sell-off in tech equities as well as soaring American interest rates. All of this encourages traders to take funds off the table before year-end.
On Thursday, Singapore told that trade clashes will probably affect economic surge in the city state. It’s considered to be a bellwether for international investment and trade.
E-Minis for the S&P 500 stood still, while FTSE futures lost 0.1%.
Overnight, the benchmark S&P 500 stock index concluded up, although keeping to session minimums, while the Dow was intact ahead of the American Thanksgiving holiday.
Market participants are looking to a gathering between American leader and his Chinese rival Xi Jinping late in November for any clues of a de-escalation in the trade conflict between the economic superpowers.
In addition to this, traders will closely watch manufacturing activity reports from the European bloc, Japan, and America due over the coming week.
The Japanese yen rallied to 112.99 against the greenback.
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).