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 show mixed performance
On Wednesday, Asian shares demonstrated mixed performance.
Shanghai rallied, but Shenzhen slumped in mainland China. As for Hong Kong, it was intact, although staying in positive territory. Meanwhile, Australian stocks managed to ascend, while Korean ones found themselves in the red, and the same can be said about Japanese stocks.
Overnight in America, most key indices went down, although the losses were relatively moderate. So, the S&P 500 concluded the trading session down 0.11%. As for the Dow 30, it slumped by 0.05%, while the tech-heavy Nasdaq stood still having lost 0.02%.
In Asia, with no crucial news on the trade talks between China and America and the Chinese cabinet focused on the gathering of the National People’s Congress losses and profits were quite constrained.
As for the Shanghai Composite Index, it surged by 0.05% hitting 3,055. As for the Shenzhen Component, it decreased by 0.45% trading at 9,553.
The Hang Seng Index rallied by up 0.19% in Hong Kong at mid-morning ending up with 29,019.
In Japan, Nikkei 225 slumped by 0.71% demonstrating an outcome of 21,571. As for South Korea’s Kospi, it decreased by 0.36% trading at 2,175.
The S&P/ASX 200 surged by 0.49% in Australia hitting 6,229.
In addition to this, trade talks between China and America are progressing and an agreement could be reached already this month. Moreover, U.S. Secretary of State Mike Pompeo came up with a statement that the trade clash between the two leading economies could be tackled soon.
Pompeo told that they’re doing their best to get it resolved as soon as possible. He hopes that soon all those levies as well as barriers between the countries will be removed.
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.