US stock futures indices climbed as follows:
- Nasdaq 100 futures, Apple’s benchmark index, advanced 0.7% to 4,696.50. It is currently trading 0.64% at 4,693.38 as of 10:10 AM GMT.
- Dow Jones Industrial Average futures gained 0.3% to 19,650.00. It is currently trading 0.19% at 18,433.00 as of 10:14 AM GMT.
- Standard and Poor’s 500 (S&P 500) futures nudged higher 0.2% to 2,168.25. It is currently trading 0.16% at 2,166.75 as of 10:11 AM GMT.
Previously on Tuesday, the S&P 500 and Dow closed with barely any changes, while the Nasdaq Composite had ended to a 2016 high.
Meanwhile, European stocks opened higher today, as market gained strength ahead of the Fed’s upcoming policy decision:
- EURO STOXX 50 added 0.64%;
- CAC 40 jumped 1.10%;
- DAX 30 advanced 0.78%.
- Nikkei 225 was up 1.72%;
- Taiwan Weighted climbed 0.43%, notching a new 52-week high;
- S&P/ASX 200 gained 0.04%, hitting a new 6-month peak;
- PSEi Composite rallied 0.95%.
Elsewhere, Twitter Inc shares suffered a steep 10% in premarket hours after the social media firm’s rather unsatisfactory earnings results reported on late Tuesday.
Meanwhile, Apple Inc had its iPhone sales stuck in a seemingly prolonged decline but the sales of the product and falling revenue still managed to beat expectations from Wall Street.
The world’s most valuable publicly traded company reported quarterly profit smaller compared to one of last year, but surpassed estimates. Quarterly earnings dropped 27% as it struggled with the first extended slump in iPhone sales since the device’s introduction in 2007.
AAPL stock the rose 7% after trading hours, and maintained a 6% gain in premarket action. Analysts consider Apple’s performance and results as a huge step forward that leaves behind the two unsuccessful quarters of the tech gargantuan.
A new iPhone is set to be launched next month, and rumors have it that the technology leader us working on new, exciting matters that could possibly rekindle Apple’s growth.
For an in-depth news story on Apple’s earnings and stock, we have it here on our partner site.
Fed’s Policy Statement
In line with Fed’s announcement, the US central bank is anticipated to keep interest rates unchanged as it is set to release a policy statement at 06:00 PM GMT. Analysts have stated that the pivot is whether Chairwoman Janet Yellen and officials would give hints on the prospect of a September rate increase.
Craig Erlam, a senior market analyst at Oanda, wrote in a note that the key is whether the central bank’s decision would “build expectations of a hike” in the latter part of 2016, or steer towards a move dovish message emphasizing the escalated threats and risks, which includes Brexit.
Erlam further said, “As it stands, the markets have once again come around to the idea that there will be another hike this year, pricing in a 51% chance of it happening by December.”
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