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 struggle for direction
On Monday, American shares struggled for direction, with market participants taking a pause because China and America stared their latest trade talks and American lawmakers attempted to reach a deal on border funding.
The financial markets started on a firm note over the trade negotiations after China's optimistic tone, with market sentiment backed by White House senior counselor Kellyanne Conway who expressed confidence of a probable deal.
As a matter of fact, the trade-sensitive industrials sector managed to leap by 0.55%, which is the most impressive outcome amid the 11 key S&P sectors. They were backed by Boeing’s 0.4% leap as well as Caterpillar’s 0.5% ascend.
However, the indexes gave up their early profits right after the healthcare sector tumbled by 0.23%. In general, the sector was suppressed by a more than 1% tumbled in the equities of UnitedHealth Group, Merck & Co, and Pfizer Inc.
Besides this, the latest US-China negotiations come in the face of an approaching March 1 deadline set for making a trade deal. If the two trade partners don’t manage to come to a compromise, extra American levies on China’s imports will come into effect.
ET, the Dow Jones Industrial Average dived by 0.11% hitting 25,079.66. As for the S&P 500, it managed to tack on by 0.03% being worth 2,708.77. The Nasdaq Composite headed north by 0.19% concluding the trading session at 7,311.93.
Apple Inc went down by 0.2% right after research company IDC reported iPhone sales going down by 20% in China for the fourth quarter of the previous year.
In addition to this, Electronics Arts Inc managed to rally by 5.2%, which is the most impressive result amid S&P 500 companies, right after market experts were optimistic about a firm start to the videogame publisher's newly launched counterpart to "Fortnite".
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.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.