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 is intact
On Wednesday, Wall Street's key indexes stood still because a Qualcomm-led soar in chipmakers was compensated by a dive in healthcare shares for the second straight trading marathon, although quarterly gains came in largely positive.
As a matter of fact, Qualcomm Inc tacked on by 10.3% because the company managed to grasp a major victory in its legal dispute with Apple Inc, which called for the iPhone to once again utilize Qualcomm up-to-date processors.
Data revealed that the Chinese economy tacked on at a steady 6.4% tempo for the first quarter, confounded hopes for a further deceleration. It helped chipmakers, getting a huge portion of their profit from China, to tack on. As for the Philadelphia chip index, it managed to rally by about 1.45%.
Besides this, the S&P healthcare index declined by about 2%. It was on pace to wipe out its yearly yield because of everlasting worries as for potential changes to healthcare policy.
Eventually, of the 54 S&P 500 businesses, which have reported outcomes so far, nearly 80% have surpassed forecasts.
However, experts actually expect first-quarter S&P 500 gains to slump by 1.8% year-on-year. Despite a firm improvement over recent forecasts, it would still mark the first yield tumble since 2016.
Apart from that, United Continental Holdings Inc went up by about 4.2% having posted a better-than-anticipated rally in quarterly gain and powered a 1.1% ascend in the Dow Jones transport index.
ET the Dow Jones Industrial Average tacked on by 0.03% reaching 26,459.70. As for the S&P 500 was intact being worth 2,907.03. As for the Nasdaq Composite, it gained 0.10% ending up with 8,008.19. What’s more, the Nasdaq 100 hit a record intraday maximum, beating its highest value recorded in early October.
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.
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.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…