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 tack on
On Wednesday, Asian stocks rallied to a five-month maximum and the evergreen buck demonstrated a three-week minimum after Fed Chair Jerome Powell repeated that the Fed shifted to a more patient approach to its monetary policy in the face of decelerating economic surge.
London's FTSE lost 0.2%, while Germany’s DAX headed south by 0.1%.
MSCI's index of Asia-Pacific stocks went up by 0.10%, rebounded to the five-month maximum recorded on Monday.
Besides this, Japan's Nikkei managed to conclude up 0.5%, while Australian shares tacked on by up to 0.4%.
The Hang Seng Index rallied by 0.2% in Hong Kong.
As for the Chinese blue-chip CSI300, it headed south by 0.8%.
American stock futures dipped too. E-Minis for the S&P 500 lost 0.1%. Moreover, trading in the contracts had been postponed for several hours after a technical disruption earlier in the trading session.
Jerome Powell, Fed Chair told that the major US financial institution is reluctant to speed up changes to interest rates.
American homebuilding inched down to a more than two-year minimum in December due to the fact that construction of both single along with multi-family housing dwent down, thus overshadowing the rebound in consumer confidence in February following three months of dives.
Meanwhile, in the foreign exchange market, the evergreen buck was softer after the major US bank’s testimony. The USD index dived over 0.4% to its lowest value for three weeks overnight.
The UK pound was worth $1.3241, having ascended to $1.3288 on Tuesday that appears to be its highest value for five months. Versus the common currency, it reached a 21-month maximum of 85.63 pence.
The common currency dived to $1.1376 having reached a three-week maximum of $1.1402 overnight.
Versus the Japanese yen, the US dollar was intact showing 110.53 yen per dollar.
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.