Apple Stock Falls Amidst China iPhone Sale Worries, USD Surges on Early Rate Hike Speculation
August 5, 2015 6:18 am
Asian shares were mixed and the Dow ended lower for a third straight session as investors and the markets braced themselves for a US interest rate hike as early as next month and Apple shares slid to their lowest in six months. The Dow fell 0.27% to end at 17,550.69 and the S&P 500 lost 0.22% to close at 2,093.32.
The threat of a rate hike pushed the Dollar northward against its major counterparts, bouncing off Tuesdays low of 123.77 Yen to trade around 124.36. The Euro slid from $1.0988 to trade at $1.0866. The Australian Dollar, after rising by 1.3% overnight and reaching a top of $0.7428, slid by 0.2% to a $0.7370 level. The NZD dipped lower towards a six year trough of $0.7428, after a fall in international milk prices effected the currency. The Canadian Dollar last fetched C$1.3192 against USD after falling to an 11-Year Low of 1.3212.
In commodity markets, Brent oil added 34 cents to $50.33 a barrel and U.S. crude gained 31 cents to $46.05. Spot gold was trading three and a half Dollars lower, around the $1085 level.
Within the equity space the London Stock Exchange posted earnings, announcing a doubling in first-half revenues, with most parts of the business performing well. Revenue rose 90% to £1.16bn, operating profits by 27% to £366.1m and the dividend was hiked 11% to 10.8p per share, making it a more attractive play for dividend investors. The stock was up 2.37% in early trade at 2621p per share. Over in the US, Apple’s share price slumped by more than 3% after concerns regarding iPhone sales numbers for China. Apple stock is currently down by 0.38% in pre-market trading.
Asian shares were mixed and the Dow ended lower for a third straight session as investors and the markets braced themselves for a US interest rate hike as early as next month and Apple shares slid to their lowest in six months. The Dow fell 0.27% to end at 17,550.69 and the S&P 500 lost 0.22% to close at 2,093.32.
The threat of a rate hike pushed the Dollar northward against its major counterparts, bouncing off Tuesdays low of 123.77 Yen to trade around 124.36. The Euro slid from $1.0988 to trade at $1.0866. The Australian Dollar, after rising by 1.3% overnight and reaching a top of $0.7428, slid by 0.2% to a $0.7370 level. The NZD dipped lower towards a six year trough of $0.7428, after a fall in international milk prices effected the currency. The Canadian Dollar last fetched C$1.3192 against USD after falling to an 11-Year Low of 1.3212.
In commodity markets, Brent oil added 34 cents to $50.33 a barrel and U.S. crude gained 31 cents to $46.05. Spot gold was trading three and a half Dollars lower, around the $1085 level.
Within the equity space the London Stock Exchange posted earnings, announcing a doubling in first-half revenues, with most parts of the business performing well. Revenue rose 90% to £1.16bn, operating profits by 27% to £366.1m and the dividend was hiked 11% to 10.8p per share, making it a more attractive play for dividend investors. The stock was up 2.37% in early trade at 2621p per share. Over in the US, Apple’s share price slumped by more than 3% after concerns regarding iPhone sales numbers for China. Apple stock is currently down by 0.38% in pre-market trading.
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