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 go down
On Thursday, Asian stocks dived because a shocking deterioration in German as well as South Korean economic data boosted worries of the decelerating global surge, while crude prices rebounded a bit following a steep run-up earlier in the week.
Eventually, the Japanese yen decreased to 112 a dollar right after the Bank of Japan left its policy on hold on Thursday, although promised to keep interest rates low enough until early 2020.
Earlier, the BOJ told it would keep current very low levels of rates for an extended period.
The common currency stabilized having dived to a 22-month minimum of $1.114 to the evergreen buck overnight, powered by a sink in German business confidence that highlighted the divergence between data in America and the euro zone.
Data disclosing the South Korean economy suddenly shrank in the first quarter of 2019 also powered fears about the dual-speed nature of the world economy.
MSCI's index of Asia-Pacific stocks went down by 0.27%, while Japan's Nikkei average managed to tack on by 0.4% demonstrating 22,280.99 points.
Besides this, overnight, Wall Street neglected some earnings misses, although headed south at the end of the trading session due to the fact the S&P 500 along with the Nasdaq Composite reported record closing peaks on Tuesday.
Some experts told that expectations that China’s economy is bottoming out have underpinned recent leaps in global stocks.
The USD index, gauging the greenback’s purchasing power versus its main rivals, went up by 98.189, which is its highest outcome since May 2017.
The common currency reached $1.1157, having faced its biggest one-day tumble versus the evergreen buck since early March.
Additionally, Brent crude futures dived by 0.1% ending up with $74.51 a barrel.
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.