Apple's stock price surged today. The "Hi, Speed!" event is coming. How do we benefit from it?
Dow gains strength for higher start as investors brace for Powell hearing
On Tuesday, American stock futures pointed to a small soar at the start, putting the key indexes on track to break into record territory.
Market participants are awaiting a flurry of Fed speeches as well as economic releases, including comments before lawmakers from Jerome Powell, Donald Trump’s pick to head the US major financial institution.
S&P 500 futures ESZ7 rallied 0.1% trading at 2,604.50, Dow Jones Industrial Average futures YMZ7 edged up 0.2% hitting 23,604. Nasdaq-100 futures NQZ7 managed to grow 0.1% reaching 6,418.50.
On Monday, the S&P 500 SPX as well as Nasdaq Composite COMP both concluded a bit lower. Meanwhile, the Dow DJIA tacked on because every gauge was within striking distance of an all-time closing maximum hit the previous week.
Equities in Amazon.com Inc gained 0.6%. Wells Fargo & Co.’s stock WFC headed south 0.2%.
European stocks generally ascended, while Asian markets showed mixed performance.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.