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.
European stocks go down as China fears overshadow firm earnings
On Wednesday, European stocks declined due to the fact indications that China has put broader stimulus on hold managed to overshadow firm gains from the likes of SAP andCredit Suisse.
As a matter of fact, the pan-regional STOXX 600 index dived by about 0.1%, although the benchmark index has pared gains for the last eight trading marathons, and also demonstrated a tendency to bounce off a weaker start.
The vast majority of key regional bourses found themselves in the red, although the slew of positive gains helped Swiss and German indexes to tack on.
Business software company SAP managed to rally to an all-time maximum and backed the DAX right after the company came up with fresh mid-term objectives, while activist investor Elliott Management revealed a 1.2 billion euro stake in the company.
The top-notch gainer was represented by Wirecard that rallied by 8% right after the payments company officially confirmed that Japan's Softbank Group Corp is going to purchase a 5.6% stake in the company.
In addition to this, STMicro neglected a downbeat prediction by bigger counterpart Texas Instruments and also reported a broadly inline update that sent its stocks up over 3%.
STMicro and SAP managed to drive the tech sector up by up to 2.5% to its highest value since July 2018.
Aside from that, healthcare shares were boosted by Novartis' gains due to the fact that the Swiss drugmaker increased its 2019 guidance following first-quarter earnings as well as sales beat.
As for Swedish truckmaker AB Volvo, it headed north having posted a better-than-anticipated first-quarter operating gain on the back of stronger pricing as well as decreasing supply chain constraints.
Car shares went down by 0.7%.
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.
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.
Every week we expect many interesting events that can shake the market.