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 stock indexes are mixed
On Thursday, US stock indexes were quite mixed at the beginning of the trading session. Market participants were evaluating the statistics and closely watching the development of the situation with tariffs on the import of a number of goods in the United States.
On Thursday, it became known that the expenses of the American population in April 2018 tacked on by 0.6% versus the previous month, and the income of Americans rallied by 0.3%. On average experts expected a jump in expenses by about 0.4%, profits - by approximately 0.3%.
The overall number of US citizens who first applied for unemployment benefits the previous week went down by 13 thousand and accounted for 221 thousand. On average experts expected a dive of 6 thousand, from 234 thousand to about 228 thousand.
In addition to this, the American government is expected to roll out tariffs on European steel as well as aluminum.
The Dow Jones Industrial Average index went down by approximately 0.38% coming up with an outcome of 24573.74 points.
As for Standard & Poor's 500, it went down by 0.19% reaching 2718.8 points.
Besides this, Nasdaq Composite managed to edge up to 0.2% ending up with 7477.01 points.
The price of shares of the chain of discount stores Dollar General headed south by 7.6%, as profit and comparable sales last quarter failed to justify the market's forecasts. Its counterpart Dollar Tree went down about 12% because of dismal reporting too.
The chain of department stores Sears Holdings posted a net loss in the first financial quarter as well as a steep dive in profit, the company's equities went down by nearly 10%.
Equities of car maker General Motors went up by about 11% on news that the Japanese fund SoftBank Vision Fund is on the verge of investing up to $2.25 in its subdivision for the development of self-governing cars.
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).