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 up
On Thursday, Asian stocks rallied after the major US bank took a more accommodative stance at its policy gathering, although worries over US-China trade negotiations and decelerating global surged capped broad profits and suppressed some markets.
As a matter of fact, MSCI's index of Asia-Pacific stocks rallied by 0.5%.
Chinese blue-chips that spent the morning fluctuating between minor losses and profits stood still, while Seoul's Kospi managed to acquire 1% because watchdogs announced plans to reduce the stock transaction tax in 2019.
Australian stocks that had surged earlier in the session, dived, losing 0.5%.
On Thursday, Japanese markets are unavailable due to a public holiday.
Profits in the broad Asian index arose after a wobbly trading session on Wall Street overnight, following a move toward risk because the Fed's dovish shift was overtaken by trade and surge worries.
On Wednesday, American leader warned that the US cabinet might leave levies on China’s goods for a substantial period just to ensure China’s compliance with any trade agreement.
By the way, China-US trade negotiations are expected to resume next week.
Trump's remarks had more of an effect on American equities than their Asian rivals. A move lower in American interests rates has a greater impact or efficacy in Asia and EM than in America.
The Dow Jones Industrial Average headed south by 0.55% hitting 25,745.67, while the S&P 500 decreased by 0.29% being worth 2,824.23. As for the Nasdaq Composite, it surged by just 0.1% hitting 7,728.97.
The evergreen buck kept easing having tumbled on Wednesday, diving to 95.874. Versus Japan’s currency the evergreen buck dipped by 0.1% hitting 110.59 yen.
As for the common currency, it surged by 0.14% being worth $1.1427.
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.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.