The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
Asian stocks mostly decline with Trump-Xi meeting awaited
On Thursday, Asian stocks mostly eased, with traders eagerly waiting for the tone of summit talks with Chinese President Xi Jinping in Florida.
Japanese markets dropped on a stronger yen with the Nikkei 225 sliding 1.40%.
Additionally, Toshiba sacked the chairman of Westinghouse Electric, its American nuclear subsidiary, before the latter dared to file for bankruptcy the previous week. As a result, the Japanese conglomerate faces billions of US dollars in losses because of huge cost overruns incurred by Westinghouse. In Asia trade Toshiba stocks stood still.
The Shanghai composite grew 0.15%, Hong Kong's benchmark Hang Seng Index lost 0.48%. The Caixin services PMI for March in China hit a six-month minimum of 52.2, which is below expectations.
Overnight, American stocks closed lower after the Fed minutes from its March gathering. The major US bank dropped a hint that it would start shrinking its $4.5 trillion balance sheet later in 2017.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
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.
The US Institute for Supply Management will release ISM manufacturing PMI on July 1, 17:00 GMT+3.
The United States Bureau of Economic Analysis will release monthly Personal Consumption Expenditures (PCE) on June 30, 15:30 GMT+3.
The governor of the Bank of England, Andrew Bailey, will hold a speech on June 29 at 15:30 MT time (GMT+3).