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 step back from 2007 maximum
On Wednesday, Asian stocks stepped back from testing their 2007 record maximum because traders booked profits in high-tech equities, while crude hit three-year maximums because of output cuts and a sag in inventories.
MSCI's index of Asia-Pacific equities dived 0.3% after six straight days of revenues until Tuesday, which had taken it within a step from the record peak hit in November 2007.
As for information technology shares, they led the dip with a 1.1% dive because Samsung Electronics extended its losses. As a matter of fact, the tech company's revenue guidance disappointed traders and raised worries that the memory chip boom might be coming to its end.
Japan's Nikkei descended 0.2%, diving from 26-year peaks reached yesterday.
Revenues for S&P 500 companies are believed to soar 11.8% in the fourth quarter versus an 8% jump in 2017, according to Thomson Reuters I/B/E/S.
The common currency descended to $1.1945 versus $1.2028 at the end of the previous week.
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 Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
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.