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 scale fresh seven-month maximums
On Wednesday, Asian stocks went up to fresh seven-month maximums because market participants welcomed signs of progress in US-China trade negotiations and brisk economic data, and crude approached the major $70 per barrel mark.
EU stocks followed Asia's lead. Britain’s FTSE futures rallied by 0.1%, while Germany’s DAX futures gained nearly 0.7%.
Additionally, MSCI's index of Asia-Pacific stocks ascended by 0.8% in Asia, having hit its highest value since late August.
The index has jumped over 3% since Thursday after reports of progress in trade negotiations between China and America and also reassuring factory activity data from the two leading economies.
The run of profits for stock markets around the globe has also pushed MSCI's major indicator of global stocks to a six-month maximum. Additionally, the global index headed north by over 0.2% on Wednesday.
Expectations for a deal to conclude the trade conflict between the world's two leading economies were fanned by new remarks from White House economic adviser Larry Kudlow that the US government hopes to make progress in negotiations this week.
Experts struggled to spot a clear driver for the extended jump in stocks.
Australian stocks rallied by 0.7%, while Japan's Nikkei stock index surged by 1%. Chinese blue-chips ascended by 0.5% following a tentative start. The Hang Seng index went up by 0.9% in Hong Kong.
On Tuesday, the Dow Jones Industrial Average headed south by about 0.3% hitting 26,179.13 points. As for the S&P 500, it stood still, while the Nasdaq Composite rallied by 0.25% being worth 7,848.69.
The evergreen buck gained about 0.06% versus the Japanese yen to 111.38, while the common currency rallied by 0.18% hitting $1.1222.
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.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
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.