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.
Wall Street goes down after mixed bank gains
On Monday, Wall Street headed south because financial outcomes from Goldman Sachs as well as Citi indicated a dismal earnings season.
As a matter of fact, the Dow tumbled by 0.2%. As for the S&P 500, it headed south by nearly 0.2%, while tech-heavy Nasdaq composite declined by 0.06%.
Earnings season looks like it’s going to disappoint following major bank outcomes earlier in the day. Eventually, Goldman Sachs Group decreased by 3% after its quarterly gain tumbled in almost all of its business divisions. Well, the bank managed to surpass expectations because of cutting costs.
Besides this, Citigroup slumped by 1.2% after it also posted decreasing gain, even as profits turned out to be higher than anticipated.
Other bank shares headed south, with Bank of America decreasing 1.3%. In addition to this, Wells Fargo tumbled by 0.6% due to the fact the financial institution reduced its outlook for net interest income on Friday.
Aside from that, Bed Bath & Beyond slipped by approximately 2.7%. It happened to be an outcome of Friday’s news that it’s about to have up to 40 stores closed.
Additionally, Nike managed to tack on by 1.1%. As for Qualcomm, it went up by about 0.6%, while Waste Management headed north by nearly 2.5% following news that it’s acquiring Advanced Disposal in a $5 billion deal.
Besides this, gold futures went down by about 0.6% concluding the trading session at $1,287.15 a troy ounce. Meanwhile, crude futures headed south by 0.6% hitting $63.50 a barrel.
Estimating the purchasing power of the evergreen buck versus a number of its primary peers the USD index was intact, sticking with 96.532.
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.
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.