Apple’s anticipated earnings pushed NASDAQ to record highs; Wall Street eye’s Fed conference

Apple’s anticipated earnings pushed Nasdaq

Most of the stocks in the United States traded weak on Tuesday’s closing bell. Investors counts on Apple’s earnings report.

The S&P 500 however was on the positive territory as it added 2.84 points at 2,391.17, its industrials, health care and information technology are the leading advancers. The Dow Jones Industrial average gained more than 35 points to finish at 20,949.89, with Visa and 3M as the best performers.

Meanwhile the NASDAQ composite notches an intraday record of 6,095.37 and it extended its finishing record. Apple has led the gains of Nasdaq 100 index as its touches fresh highs. The multinational technology company is scheduled to post its earnings for the second quarter before Tuesday’s session closes.

It is given the tech firm gets most of its profits from iPhones. Even if it doesn’t reach the forecasted 52 million in revenue, it’s still more than last year’s 51 million. According to UBS research, the profit of Apple has already surpassed the expectations of analysts 15 times for the past 16 quarters.

Elsewhere, Wall Street is focusing on the Federal Reserve, alongside the central bank proceeding to the monetary policy conference for two days. But, the Fed is not anticipated to move monetary policy after their conference wraps up. The market is only expecting an interest rate hike by 4.8 percent.

Last Monday, Equities traded mostly higher following an immediate surprise coming from U.S. President Donald Trump remarks on divorcing the country’s largest bank. Stocks briefly dropped after his comments but still managed to pull through.

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