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 up on trade hopes
On Thursday, EU stocks went up because signs of progress in US-China trade negotiations helped market participants to neglect fears over global surge as well as the UK’s chaotic attempt to depart from the European bloc.
The STOXX 600 index went up by 0.2%, while Frankfurt's trade-sensitive index headed north by 0.4%.
China has come up with unprecedented offers on such issues as forced technology transfers as it works with America to resolve their trade conflict. Moreover, Chinese Premier Li Keqiang told that his country would expand market access for foreign financial institutions as well as insurance companies.
European shares surged a bit. The UK’s exporter-heavy FTSE 100 managed to inch up by about 0.6% as the UK pound slumped after Prime Minister Theresa May didn’t manage to sway hard-line rivals of her proposed Brexit deal, suspending the entire process.
Efforts to convince UK lawmakers to back May's proposal will resume on Thursday, although it’s still uncertain how, when or even if the United Kingdom will leave the European bloc.
In addition to this, German biotech company Evotec lead profits on the STOXX, heading north by 4.5% after its outcomes surpassed estimates. Tobacco shares Imperial Brands as well as British American Tobacco shot up by 2% right after Citi upgraded each to the "buy" status.
Car makers managed to extend profits from Wednesday, although Fiat Chrysler Automobiles headed south by about 1% right after Nissan Motor Co's chief executive told that he didn’t know that its French partner Renault SA made a bid for the company.
Contributing to its woes, the Italian carmaker's German counterpart Volkswagen told that it was indifferent about a partnership with the company.
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.