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.
Dow components push Wall Street
On Wednesday, a trio of Dow components backed the broader market following upbeat quarterly numbers.
As a matter of fact, the Dow Jones rallied by up to 0.9%. The S&P 500 surged by 0.52%. As for the tech-heavy Nasdaq composite, it managed to leap by nearly 0.57%.
IBM shares managed to gain by approximately 7%.
In addition to this, the shares of Procter & Gamble headed north by up to 6% due to the fact that the company had its estimate for full-year organic sales lifted.
Besides this, United Technologies foresees 2019 gains above estimates. The stocks of this company managed to inch up by about 6.1%.
Today’s leap follows Tuesday’s more-than-1% tumble that took place due to the fact that fears about decelerating global surge came to the fore after a downbeat economic outlook from the IMF, indications of further deceleration in the Chinese economy as well as mixed reports on US-China trade negotiations.
The benchmark S&P 500 is still nearly 10% away from its record upward settlement on September 20.
Furthermore, corporate earnings kept dictating early trading considering the rather empty economic calendar because of the US government shutdown. On Thursday, both Republicans and Democrats are expected to vote to cease the everlasting shutdown, although chances of either passing are quite low.
Among other active equities, in the broadcast space Comcast tacked on by 4.2% right after the company posted fourth-quarter outcomes, which topped expectations as Internet subscribers soared. Moreover, Viacom stocks inched up by up to 0.75% due to the fact that the company officially confirmed that it would shell out up to $340 million to purchase Pluto TV.
As for financials, Capital One tumbled by about 4.8% after the company posted quarterly profit, which turned out to be quite below consensus.
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.