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 rally
On Monday, Asian stocks soared because Chinese markets rebounded on expectations of more policy support for the Chinese decelerating economy, although surprisingly poor American employment data backed doubts about the strength of the world’s economy and also tamed gains.
As for European equities, they managed to ascend. As a matter of fact, Germany’s DAX surged by 0.5%, Britain’s FTSE rallied by 0.7%, and France CAC tacked on by 0.6%.
MSCI's index of Asia-Pacific stocks headed north by 0.4% in an attempt to offset Friday's 1.6% dive, which is its second biggest tumble in 2019.
Besides this, Japan's Nikkei tacked on by 0.5% after four losing trading sessions in a row.
Besides this, China's blue-chip CSI300 index managed to surge by 1.3% following Friday's 4% dive.
On Sunday, China's major financial institution promised to further back the national economy by lowering borrowing costs and spurring loans.
Chinese data uncovered over the weekend turned out to be a bit weaker than anticipated, although expectations for more policy easing will probably cushion any blows.
In China, new bank loans headed south a bit more than anticipated in February, and money supply surge missed forecasts too.
Meanwhile, US key stocks demonstrated their biggest weekly dive since the market slipped at the end of the previous year, diving for five days in a row following the dismal payrolls data.
In February, the American economy generated only 20,000 jobs that appears to be the weakest outcome since September 2017. Therefore, bond gains sank, with the 10-year Treasuries gains reaching a two-month minimum of 2.607%. Last, it accounted for 2.638%.
Besides this, the two-year yield also reached a two-month minimum of 2.438%, which is close to the US major bank’s funds rate 2.40%.
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.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.