Apple's stock price surged today. The "Hi, Speed!" event is coming. How do we benefit from it?
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.
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.