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 shares are mixed on lingering trade worries
On Wednesday, Asian equities turned out to be mixed in morning trade because worries over a looming trade conflict between China and the United States kept lingering.
The Dow headed south by 287.26 points, erasing all of it revenue for the year. As for the S&P 500, it went down by 0.4%, the Nasdaq decreased by 0.3%.
Goldman Sachs CEO Lloyd Blankfein’s statement appeared to be shocking because the statesman told that he’s not concerned over the recent global trade clashes between the two leading economies.
In China, the Shanghai Composite index as well as the Shanghai Component started 0.07% and 0.02% lower. As a matter of fact, the Hang Seng Index managed to grow by 0.2% in Hong Kong.
Governor of the People’s Bank of China, Yi Gang told in an interview with the Shanghai Securities News that policymakers are ready for outside shocks. Moreover, he asked investors to be calm. China’s major financial institution is ready to take adequate measures to respond to the standoff and stabilize the country’s stock markets.
The Chinese statesman told that China’s authorities are going to be forward-looking in the situation. The Chinese government will come up with relevant policies and certainly utilize all kinds of monetary policy solutions. He added that stock market turbulence is mostly powered by market sentiment. In addition, he pointed out that his country has enough room to adequately respond to any trade hostile move.
Besides this, this week China’s leader Jinping and North Korea’s leader Kim Jong Un had a meeting in Beijing. The both leaders came to a deep understanding on a variety of issues, including denuclearization of the Korean peninsula, as North Korea’s state media informed.
Kim’s two-day visit to China’s capital that followed his Singapore summit the previous week, is expected to finish a bit later today.
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.