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 inches up
On Friday, the Dow managed to conclude the trading session up on upbeat mood after American leader told that a trade agreement with China is real.
As a matter of fact, the Dow Jones Industrial Average soared by 0.70%. As for the S&P 500, it surged by about 0.62%. The Nasdaq Composite rallied by 0.91%. Eventually, the Dow concluded up for an eighth week in a row.
In a sign that China and America were still committed to coping with their differences on trade, China’s Prime Minister extended his visit to America to proceed with negotiations with American rivals.
Tech equities rallied due to profits in Intel and Intuit.
As a matter of fact, Intuit managed to tack on by 6.8% having reported fiscal second-quarter outcomes on Thursday. They topped forecasts made by Investing.com.
As for Intel, it managed to go up by 2.1% following a positive assessment from Morgan Stanley.
Morgan Stanley had Intel's stocks upgrade from equal-weight to overweight and also ramped up its price objective from $55 to $64 on hopes that the chip producer is going to be one of the key winners when spending on cloud computing goes up.
Kraft Heinz went down by up to 27.5% having revealed on Thursday that the SEC had come up with a probe into the company's accounting practices. Moreover, the company also posted a quarterly loss of $15.4 billion.
Energy equities concluded the trading day up because American crude prices surged on expectations that a US-China trade pact would back global economic surge, thus powering oil demand.
Western Digital, DISH Network, and Intuit turned out to be amount the top-notch S&P 500 gainers for the trading session.
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 Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.