The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
European equities sag
On Friday, European financial stocks dived after a delayed vote on tax reform in America deflated a soar in the sector, thus forcing regional benchmarks to start December with a descend.
Euro zone stocks STOXXE headed south 0.6%, while Britain's FTSE that has been affected by a strong pound this week, edged down 0.1%.
Financials turned to be the biggest weight after the U.S. Senate postponed a vote on a tax reform bill, which traders consider to be beneficial for financial institutions.
Lloyds, BNP Paribas and Barclays brought the index down.
UK pharma company Indivior rallied 11.7% right after its opioid addiction medicine was officially approved by the US Food and Drug Administration.
Meanwhile, struggling French telecom company Altice, whose equities dived 59% in November after gloomy results, inched up 4.6% after the company told it would sell data center as well as Swiss telecoms businesses for the purpose of reducing its 50 billion euro debt pile.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
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.
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.