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 stand still amid fears over trade and growth
On Wednesday, Asian equities stood still due to the fact that worries over the outlook for global economic surge as well as the everlasting China-US trade clash kept market participants away from risky assets.
Spreadbetters actually expected EU equities to start lower, with Germany’s DAX diving by 0.2%, France’s CAC 40 decreasing by 0,4%, and Britain’s FTSE tumbling by 0,3%.
Additionally, MSCI's index of Asia-Pacific equities decreased by 0.15%, treading water after soaring to a seven-week maximum on Monday.
As for the Shanghai Composite Index, it decreased by 0.15%.
Meanwhile, Australian equities went down by 0.25%, while Japan's Nikkei slipped by nearly 0.1%.
In addition to this, on Tuesday, the Nasdaq, the Dow, and the S&P 500 all reported their greatest one-day percentage tumbles since January 3.
Following an abrupt dive in December, American equities managed to gain through much of January, backed by hopes for a progress in US-China trade talks as well as a more dovish-sounding US major bank. It also helped global traders to opt for riskier assets.
Another factor affecting market sentiment was a report by the Financial Times that the current US presidential administration had neglected an offer from China for preparatory trade negotiations this week ahead of high-level talks expected to take place next week.
Larry Kudlow, White House economic adviser denied the report, thus assisting American equities in paring some losses, although the fresh worries about China-US relations kept stock prices in check.
Besides this, recently published data all indicated a tough year ahead for the global economy.
In December, American home sales went down by 6.4%, falling short of the most pessimistic estimate, to their lowest outcome for three years. In contrast with 2017, they tumbled over 10% for the first time since 2011.
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.
Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.