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 rebound from eight-month maximums
On Wednesday, Asian stocks went down from eight-month peaks because the International Monetary Fund lowered its global surge outlook and America and the EU locked horns over levies in another escalation of trade tensions.
Eventually, European stocks were poised to start lower, with the UK’s FTSE futures slumping by 0.1% and Germany's DAX stocks diving by 0.02%.
MSCI's index of Asia-Pacific stocks headed south by 0.1%, just a day after it reached its highest value since August 1.
As for the Shanghai Composite Index, it inched down by 0.4%, while Japan’s Nikkei declined by 0.7%.
Meanwhile, on Wall Street, the S&P 500 went down by 0.61%, while the Nasdaq Composite decreased by 0.56% on Tuesday.
Overnight, American data contributed to the cautious mood, with job openings slumping to an 11-month minimum in February and driving doubts as for the strength of the American labor market that has been one of the few bright spots in the US economy.
Meanwhile, American leader threatened to slap duties on $11 billion worth of EU products, thus powering tensions over a long-running transatlantic aircraft subsidy conflict.
Global debt yields generally stood still, with the 10-year American Treasury yield being worth 2.49%, which is off its 15-month minimum of 2.340% recorded late last month.
Key currencies were little affected with an immediate focus on the EU leaders' summit as well as the ECB’s policy gathering.
EU leaders will most probably grant UK Prime Minister Theresa May another delay to Brexit, although they could demand Theresa accepts a much longer extension due to the fact that France pushed for conditions to restrict the UK’s ability to undermine the EU.
The UK pound was nearly intact, sticking with $1.3059.
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…
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