The
beginning of US session today started with great uncertainty. The day began
with profit taking from short positions as risk appetite was supported by
fundamental news. But at the same time the stock market consolidation
continues.
Indicative of this is the movement of Apple’s shares. The tech giant
depreciated for a fifth consecutive day. Today, the company lost 3.91% on the
market capitalization, after yesterday fell by 2.4 percent. Shares passed two
technical levels of support and are situated on 6-month low. And behind the
corrective movement there are not standing bad financial results or forecasts.
In fact, the market is preparing for the expected change in monetary policy by
the Fed in September. Rising interest rates will affect export companies,
financial institutions, retailers, virtually the entire American economy.
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