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 stocks consolidate their weekly gains
On Friday, Asian stock markets managed to consolidate their weekly profits due to the fact that China-US negotiations generated a lot of headlines, although no conclusions, while caution ahead of American payrolls as well as a holiday in China affected volatility.
Eventually, MSCI's index of Asia-Pacific stocks slumped by 0.1%, although it was off its highest value since the end of August. For the week, the index was still up 1.8%, while for the year it was up 13%.
Japan's Nikkei headed north by 0.3%, soaring 2.8% for the week. As for E-Mini futures for the S&P 500, they managed to gain 0.1%.
Experts pointed out that stock markets have run fast and hard from their December minimums, and they’re vulnerable to a short-term rebound. Nevertheless, valuations are quite good, surge is anticipated to improve into the second half of 2019, fiscal and monetary policies have become more supportive of financial markets, while the trade war threat is weakening.
As Xinhua informed, China’s President Xi Jinping had told that progress was achieved and also called for an early conclusion of talks.
On Thursday, American leader told that a deal could be officially announced in four weeks, although warned it would be hard to let China trade with America if remaining issues weren’t tackled.
Market participants are also waiting on the American payrolls report, expected to rebound by 180,000 in March after February's distorted 20,000 ascend. Furthermore, traders will also closely watch hourly earnings that rallied to 3.4% in February, which appears to be the fastest tempo since April 2009.
Expectations for a solid number were underpinned by data on jobless claims that headed south to a 49-year minimum the previous week, indicating sustained labor market strength.
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.
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.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.