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.
US equities rally
On Tuesday, US stock indices inched up because investors reacted positively to the news of the outcome of the next round of trade negotiations between the United States and China.
The Dow Jones Industrial Average and Standard & Poor's 500 concluded the trading session at their maximums since March. The index of small companies Russell 2000 managed to ascend to a record peak for the fourth consecutive trading session.
The Dow Jones Industrial Average soared by 1.21% reaching 25013.29 points by the close of the market on Monday.
Standard & Poor's 500 headed north by 0.74% hitting 2733.01 points.
Nasdaq Composite managed to acquire 0.54% amounting to 7394.04 points.
China agreed to ramp up the purchase of American goods, although agreements on a certain volume of trade deficit reduction haven’t been reached yet, as MarketWatch informed.
Papers of industrial companies turned out to be the leaders of surge among Dow Jones companies on Monday. The value of Caterpillar Inc equities soared by 2.1%, Boeing acquired 3.6%.
Meanwhile, indicators of all 11 major industry groups of the S&P 500 index gained on the basis of trading outcomes, while the industrial companies' sub-index soared by 1.4%.
The cost of securities of the regional bank MB Financial Inc. added by 12.9% on the information that Fifth Third Bancorp is going to acquire MB Financial as part of a $4.7 billion deal.
Equities of Fifth Third Bancorp went down by 7.9%.
The price of securities of General Electric tacked on by 1.9%, while Wabtec's share price soared by 3.5%.
Paper Tesla Inc. tacked on by approximately 2.8% on the reports of the head of the company Ilona Mask on the specifics of the updated version of the car Model 3.
Chip-maker quotes tacked on due to Micron Technology's improved earnings and revenue forecasts for the third fiscal quarter.
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.
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).
The United States will release the weekly Unemployment Claims on October 21, at 15:30 MT time (GMT+3).