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 markets head south
On Thursday, Asian markets inched down in Asia because American leader told before crucial trade negotiations tomorrow that China dared to have the deal broken.
As a matter of fact, China’s Shanghai Composite along with the Shenzhen Component slumped by respectively 1.1% and 0.7%. Moreover, the Hang Seng Index decreased by 1.6% in Hong Kong.
Despite being not a key directional driver, this morning data revealed that in April China’s consumer price index went up by 2.5% 2018, which is in line with hopes, although a bit higher than March’ 2.3% year-on-year.
In fact, a leap in pork prices year-on-year made a contribution to higher food prices, as the National Bureau of Statistics uncovered.
Besides this, Japan’s Nikkei 225 headed south by nearly 1.2%. In South Korea, the KOSPI index went down by 1.2%.
As for Australia’s ASX 200, it rallied by about 0.3%.
Trade-related news is anticipated to dominate headlines for the rest of the week due to the fact financial markets wait for the result of the much anticipated talks on Friday.
Donald Trump has recently told that China has spoilt the deal in the everlasting US-China trade negotiations.
The talks with China were moving extremely slowly due to the fact the Chinese cabinet made an attempt to re-negotiate. It actually contradicted to the previous week’s achievement when the two trading partners were getting closer to a compromise already on Friday.
American leader added that his country won’t back down until the leading Asian country ceases cheating their employees stealing their jobs.
In return, China told that it’s going to adequately respond if America follows through with its threat to have levies raised on $200 billion of China’s goods.
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.
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.
Every week we expect many interesting events that can shake the market.