Finance Update – The 2 Trillion Dollar Apple

Asia – US cancels HK agreements

Red paints the equities board across the region this morning as the Taiwan weighted & the Korean Kospi plunge 3.3% followed by the Hang Seng with -2.23%.

China maintained its 3.85% one-year loan prime interestThe cost of accessing money not owned. rate while in Japan, foreign investments in Japanese stocks doubled to 371 bn Yen.

Meanwhile, the US State Department yesterday cancelled three bilateral agreements – including those related to tax and extradition issues – with Hong Kong, citing the new securityA documented and tradeable asset -mainly stocks and bonds, but also documented derivatives. laws.

Europe – COVID thwarts financial putsch

European benchmarks were led up yesterday by Switzerland’s SMI with a 1.39% gain, Belgium losing 0.52% alone at the rear.

The pound is down a quarter per cent after Reuters reported a poll this morning that has a majority of UK economists projecting a 2-year recovery period from the Corona depression. On the other hand, the service also maintains that the pandemic has thwarted Frankfurt’s plans to undermine London’s positionAn open trade or transaction. A position can be long (a contract to buy the asset) or short (a contr... as the world’s financial centre, especially in the derivatives clearing sector.

The EU’s Consumer Price Index deepened its drop somewhat to -0.3% MoM in July.

Americas – Fed & admin positive

Energy, healthcare & consumer services all pulled US indices down yesterday, the Nasdaq to the tune of 0.57%.

The dollar index jumped by over 90 cents after the release of a very dovish FED meeting report, which indicates adhering to its aggressive stimulus programme.

Speaking to reporters in Singapore, St Louis Fed Head Bullard ignored the perceived Wall streetA street in Lower Manhattan that runs along the original route of the wall surrounding historical Ne... Main street discrepancy saying that “Wall Street has called this about right so far,” Reuters reports; and Economic adviser Larry Kudlow told US reporters the economy is rebounding strongly.

Meanwhile, Mortgage applications contracted in the 2nd week of August by 3.3%

In Canada, Wholesale Sales shot up by a much better than expected 18.5% while the CPI added 0.1% YoY – less than the 0.5% expected in July.

Commodities – Oil weakness rules

Oil is down nearly a per cent this morning, continuing at the centre of its month-long range after the EIA produced a disappointing 1.63 mB withdrawal for the week.

Corporate – Alibaba reports earnings

Apple (+0.13%) has doubled its marketA location or entity where people and entities can negotiate and trade assets of value. cap in 2 years, yesterday being the first US public company to cross the $2 tn threshold. GE (-0.93%) has reportedly signed $1.2bn-worth of maintenance deals with the Iraqi government. And J&J (+0.2%) has finalised a deal to purchase Momento Parma, which specialises in autoimmune therapy.

And as the accommodations market rebounds, AirBNB yesterday formally announced their IPO for year’s end. Reservations, they reportedly said, have returned to their March 1-mn level this past month.

Nvidia (-1%) earnings soared by 10% YoY to 99 cents per share in Q2 on a 50% increase in revenues to $3.9 bn. The share declined another 1.1% after hours despite Microsoft’s (-0.61%) announcement it would implement their T4 tensor core GPU in its new AI-quality Azure cloud services.

Today – earnings from Alibaba, Ayden & Ross Stores inc. Capital One will be paying dividends.

Events