North Korean crisis and Hurricane Irma back into the background

North Korean crisis and Hurricane Irma back into the background

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In the US, investors are losing their optimism. Wall Street still extended gains. The eyes of the investors were now directed to the west coast of the USA. There, Apple introduced a new luxury iPhone.

The leading US indices reported a strong performance against the backdrop of oil appreciation, as well as positive comments by US Treasury Secretary Mnuchin on tax reform in the country. Financial and industrial stocks pushed the S & P 500 to a record high on Tuesday. The Dow Jones index ended 0.3 percent higher at 22,118.86 points. The broad composite S & P 500 also recorded a 0.3 percent increase, to 2496.48 points. NASDAQ Composite also climbed 0.3 percent to 6454.28 points.

Large American banks had a positive trading day. For example, companies like Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America and Wells Fargo climbed 2.5 percent.

The Cupertino based company introduced its new technological products. Apple has officially announced the launch of three iPhone models – iPhone 8, iPhone 8 Plus and the long-awaited iPhone X. The name of the iPhone X refers to the Roman figure for ten because Steve Jobs presented the first iPhone ten years ago. Many details of the devices were already leaked. Many details of the devices were already leaked. Attention to the premiere of the new smartphone models of the company was also reinforced by the fact that 2017 marks the 10th anniversary of launch the first iPhone on the market.

Fast food chain McDonald’s was among the biggest drags on Wall Street with a fall of over 3 percent. The stock came under pressure after an analyst report which expressed concerns about sales in the third quarter.

Teva got a boost by the announcement of the sale of its Paragard for $1.1 billion. On Monday, shares of the Israeli pharmaceutical company jumped almost 20 percent after the appointment of a new chairman of the board.

Sage Therapeutics got punished after a drug from the bio-pharmaceutical company did not met expectations in an advanced research phase.

Today a new batch of news from the UK is expected. Particular attention will be paid to the level of unemployment in the country for the month of August. The economists forecast the unemployment rate at 4.4%. Information on industrial production in the euro area will also be published. In the afternoon we are expecting data on US production prices as well as the level of oil reserves. Analysts forecast stock growth of 3.2 million barrels for the week to 9 September.

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Javier Davis produces news on stocks, currencies, bonds, commodities, and real estate. His in-depth research covers most of the major financial markets in America, Europe, and Asia. His research is based on the interconnected relationships among economic and technical factors that drive valuations in the markets, with an emphasis on how to formulate investment strategies. From interest rates to inflation to economic growth and much more, the fundamental concepts presented on this website provide an essential foundation of knowledge for investors to profit in stocks, bonds, commodities, currencies, and real estate markets.

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