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 futures decline over 100 points on everlasting Fed-driven worries
On Thursday, Dow futures sank over 100 points because Wall Street was braced for picking up where it left off, overwhelmed with worries after minutes from the Fed’s recent gathering dropped a hint at more interest rate lifts in the nearer future.
Meanwhile, market participants were watching soaring American bond revenues as well as dollar strength. As for global stocks, they looked quite uncertain.
Dow futures YMH8 headed south 0.5% being worth 24,659, S&P 500 futures lost 0.3% hitting 2,692. As for Nasdaq-100 futures NQH8, they went down 0.5% demonstrating an outcome of 6,729.
On Thursday, the Dow Jones Industrial Average DJIA slumped 0.7% reaching 24,797.78, diving from an afternoon 303 point leap. The S&P 500 index SPX decreased 0.6%, having earned 1.2%. As for the Nasdaq Composite Index COMP, it went down 0.2%.
Wednesday’s dips that showed up after a tumultuous trading session, were caused by the publication of the minutes from the January Fed gathering. It uncovered that policy makers were assured that the American economy happens to be stronger than at the end of the previous year. Moreover, they witness an increased probability of more interest rate lifts, backing prospects for a rate lift in March.
It powered the revenue on the 10-year Treasury bond, enabling it to get to a new four-year maximum of 2.94%, pushing the evergreen buck up.
Those worries didn’t fade away on Thursday because the 10-year revenue TMUBMUSD10Y kept to its maximum of 2.94%. Additionally, the evergreen buck lost some strength, although the ICE Dollar Index DXY tacked on 0.1% being worth 90.114.
European equities pointed to a weaker beginning, while Asian ones demonstrated mixed performance. The Nikkei 225 index NIK slumped 1%, the Shanghai Composite Index SHCOMP acquired 2% during the first trading session after the Lunar New Year.
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 Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.