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 tack on
On Friday, Asian stocks managed to leap, led by a jump in Chinese shares, on expectations that China and America are making progress in trade negotiations, while global bond gains rallied following a prolonged decrease on fears about the economic outlook.
As for European stocks, they’re anticipated to go up, with spread-betters suggesting that France's CAC, Germany's DAX, and Britain's FTSE would start 0.4%-0.5% up.
MSCI's index of Asia-Pacific stocks rallied by 0.75%, while Japan's Nikkei leapt by 0.8%.
As for the Shanghai Composite Index, it surged by over 3.1%.
The mood in the financial markets, it was brighter because American statesmen told that China has come up with proposals in trade negotiations with America on an array of issues, which go further than previously, including on forced technology transfer.
Profits on Wall Street also backed investor optimism. On Thursday, the S&P 500 managed to head north by 0.36%, while the Nasdaq Composite acquired 0.34%.
Notwithstanding recent turbulence, this quarter, the S&P 500 has tacked on by 12.3% percent that would mark its best quarterly outcome since 2009 if persisted.
The 10-year American bond gain soared to 2.402% from a 15-month minimum of 2.352% recorded on Thursday following a nearly relentless dive since the Fed’s dovish tone the previous week generated fears about the American economic outlook.
Thursday’s data uncovered that in the fourth quarter American economic surge turned out to be slower than initially anticipated, with GDP surge updated downwards to an annualized 2.2% from an earlier outcome of 2.6%.
Meanwhile, the common currency was intact, sticking with $1.1232 having tumbled to a three-week minimum of $1.1214 because rumors spread that the ECB is going to introduce a tiered deposit rate.
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.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.