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Stocks rally before new iPhone, Amazon Prime Day

European open

Markets in Europe have opened flat on Tuesday, taking a pause from a big rise the day prior in anticipation of US bank earnings.


China stocks boom

Markets in Asia were little changed on Tuesday as China reported trade data. Chinese stocks had led gains across Asia on Monday as more local investors got onboard the idea of more favourable treatment from the United States in a Biden presidency. Action from the PBOC to curb strength in the yuan by removing some restrictions on selling the currency short seemed to bolster confidence.


UK introduces 3-tier lockdown restrictions

European stocks were mostly higher on Monday with the UK FTSE 100 the notable exception to the rule. The Boris Johnson government introducing a new 3-tier system for lockdown restrictions was interpreted as confusing and an unnecessary drag on the economic recovery. UK stocks most sensitive to the economic reopening including pub-owner Whitbread retailers Next and Primark-owner ABF were the biggest drags on the index.


US tech stocks lead Monday gains

The launch of the first 5G iPhone today as well as Amazon Prime Day has got the juices flowing for tech investors. The Nasdaq index leaped 2.5% on Monday with the S&P 500 and Dow also making solid gains.


Oil price drops after Norwegian strike ends

The price of oil had been artificially supported in the last week by strikes in Norway and possibility that a quarter of the country’s oil output could be curtailed. Unions and oil companies struck a deal this weekend and prices are coming back to earth, albeit within the trading range of the past few months.




First Q3 Bank earnings

JP Morgan Chase and Citibank are first to report Q3 results today. 


Amazon Prime Day

Amazon delayed its Prime Day due to coronavirus restrictions in July but the new two day event will now take place starting today (Oct 13 & 14). Each year the firm racks up a new record in sales over the day and with consumers in the habit of shopping online in the pandemic more than ever, this year is likely to be no exception. Amazon stock was bid up in early Wall Street trading to make a fresh record high.


New Apple iPhone (12) launch

Supply chain issues meant Apple delayed the launch of its new iPhone 12. Now its happening today at 10am Pacific time. Aside from a few extra bells and whistles - the big selling point for upgrading to the new model will be its 5G connectivity. Apple shares were up 6% on Monday, which sets a high bar for Apple to exceed expectations. The shares are about $10 below all-time highs.



Bitcoin above 13k, Barclays Q3 results & flash PMIs
The day ahead will see the reaction to the second and final US presidential debate as well as the release of October PMIs and Q3 earnings from British bank Barclays. European stocks look set for cautiously higher open with the idea that the presidential debate… Read more


Intel is selling off parts before Q3 results
The day ahead will see two US corporate behemoths Intel and Coca-Cola report Q3 results while the lack of US stimulus puts the spotlight on weekly jobless claims. European stocks look set for opening losses on Thursday with indices testing the lowest levels in… Read more


No pre-earnings delirium for Tesla
The day ahead will see earnings from EV carmaker and retail options trading favourite Tesla and the UK reports inflation stats at a critical stage in EU/UK trade negotiations. This really feels like it's the last-chance saloon for a pre-election US stimulus bi… Read more


Netflix earnings and stimulus deadline
MARKETSEuropean markets have opened lower following the late losses headed into the close on Wall Street. Stocks in Asia are mostly lower with the exception of China after the PBOC kept the LPR steady. Early optimism gave way to sweeping losses across stock ma… Read more


48 hours for stimulus, China GDP grows
HEADLINESChina GDP grew 4.9% in the third quarter, slightly missing estimates Stocks are bouncing back from last week’s sell-off on hopes for US stimulus There could be a coronavirus stimulus bill within 48 hours and an emergency-use COVID-19 vaccine by Novemb… Read more


Stricter COVID rules send stocks tumbling
MARKETSWall Street ends well off lows in wild tradingThe US equity benchmarks fell for a third day but by much narrower margins than mid-day losses would have implied. The Dow was down by over 300 points but bounced back to close just 20 points lower. Facebook… Read more


US bank stocks getting clobbered
The British pound rallied (GBP>1.30) after the UK signalled it would not walk away from trade talks after today's EU Summit. Big US banks have seen shares turn lower after earnings results. The prospect of future loan losses and low interest rates are keepi… Read more


Paused vaccine trials hit market optimism
Eli Lilly has put its antibody treatment for the coronavirus on hold after Johnson & Johnson paused its vaccine trials on Monday. The pauses stretch out the timeline for when investors should expect to see a vaccine approved. MARKETSEurope openEuropean mar… Read more