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On Friday, American shares headed north, with the S&P 500 braced for reporting its best quarterly outcome for more than nine years, backed by optimism over the latest round of trade talks between China and America.
Treasury Secretary Steven Mnuchin told that America held constructive negotiations in Beijing. Meanwhile, Chinese state news agency informed that the two sides negotiated relevant agreement documents, achieving new progress.
Next week a Chinese delegation headed by Vice Premier Liu He is going to come to Washington for another round of negotiations.
Trade-sensitive industrials went up by 0.65%, while chipmakers having a large revenue exposure to China, jumped too, with the Philadelphia chip index soaring by 1.13%.
As for the broader technology sector, it soared by 0.46%.
The previous week growth fears were driven when the major US bank gave up projections for interest rate lifts this year and the US Treasury gain curve reversed for the first time since 2007, which appears to be a historical sign of a meltdown.
ET the Dow Jones Industrial Average managed to rally by up to 0.35% hitting 25,806.93. As for the S&P 500, it surged by 0.24% showing 2,822.26. The Nasdaq Composite headed north by 0.35% ending up with 7,696.03.
Latest data revealed that American consumer spending tacked on in January and income soared a bit in February, suggesting that the American economy was rapidly losing momentum after surge speeded down in the fourth quarter.
DowDuPont headed south by 2.1% after brokerages decreased their price targets on the chemical company, referring to bad weather as well as margin pressures.
In addition to this, Celgene Corp ascended by 6.4% right after proxy advisory company Institutional Shareholder Services underpinned counterpart drugmaker Bristol-Myers Squibb Co's vote in favor of a takeover of the company.
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.
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.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
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