There are some doubts about Apple sustainability amid coronavirus. Who will buy and who will produce new IPhones?
Asian stocks soar on Caixin manufacturing PMI
On Tuesday, Asian equities gained, with market sentiment driven by upbeat Caixin July manufacturing PMI figures.
In Japan, Nikkei 225 index rallied 0.22%. In Australia, the S&P/ASX 200 went up 0.77%, bolstered by strength in its energy sub-index that gained 1.9%.
The Reserve Bank of Australia held its interest rates intact at a record minimum 1.5%. The given outcome was generally expected by market participants.
In Hong Kong, the Hang Seng Index showed a 0.73% leap. The Shanghai Composite acquired 0.41%.
Tuesday’s Caixin manufacturing PMI hit 51.1, outperforming the expected reading of 50.4.
Overnight, Wall Street equities concluded at record maximums because investors kept expecting positive corporate earnings would back a move higher in market averages compensating the recent descend in tech equities.
American equities made a mixed start to the trading week because market sentiment on corporates earnings was still bullish, after Friday’s reports from Factset revealed that 73% of the S&P 500 companies, which had posted earnings the previous week, surpassed estimates on both the top as well as bottom lines.
The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N