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.
Global stocks rally on trade deal hopes
On Friday, global shares surged because traders held out expectations for a trade agreement between China and America, even as another round of American levies on China’s exports came into effect.
European stock markets rebounded from six-week minimums, with Germany's trade-sensitive DAX index as a top-notch performer with its 1% ascend.
Additionally, MSCI's All-Country World Index, gauging shares across 47 countries, managed to ascend by 0.2% after the beginning of European trading.
However, the indicator was braced for its worst weekly performance since late December last year, with a tumble of 2.75% because tensions on trade escalated again between China and America.
American leader’s tariff jump from 10% to 25% on $200 billion of China’s exports kicked in on Friday, and the Chinese government told it would undoubtedly respond.
Top American and Chinese negotiators are currently negotiating to rescue a faltering agreement aimed at ending a 10-month trade conflict between the world's two leading economies.
The US government has told that the two sides would proceed with talks on Friday morning in the US capital having concluded the first of two days of negotiations on Thursday.
American stock futures headed south, while Asian stocks pared gains after the American tariff lift, with traders worried that a protracted trade conflict could impact global economic surge.
MSCI's index of Asia-Pacific stocks that slumped over 1% early Friday, maintained its 0.3% leap.
In addition to this, the evergreen buck managed to tack on by 0.05% against a basket of its key rivals. The Japanese yen stood still, having surged by 1.2% this week. As for the common currency, it leapt by 0.1% to the evergreen buck.
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.