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?
FTSE 100 keeps struggling for 3rd day
On Friday, British equities headed south, with bank equities keying off dips on Wall Street where concerns as for progress for tax cuts as well as other reforms ramped up, although the blue-chips market was still on course for a weekly soar.
The FTSE 100 index UKX went down 0.1% being worth 7,439.51. It was led by the health care and financial groups. The basic materials sector managed to top advancers. By the way, on Thursday, the British benchmark sagged 0.7%, which is the largest percentage sink since November 30.
However, the FTSE was on course to jump 0.7% for the week. It would emerge after the previous week’s 1.3% soar. Year-to-date the index has ascended 4.2%.
The currency pair GBP/USD hit $1.3436, which is not far off from Thursday’s reading of $1.3430. Versus the common currency GBP/EUR hit €1.1395 against the previous outcome of $1.1403.
Meanwhile, on Friday EU leaders kept meeting for a summit where Brexit draws much attention. The EU leaders are believed to give the green light for divorce negotiations to move onto the second stage.
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.