Apple revealed its new hardware

Daily Analysis - 11/09/2019

Apple’s announcement included new i-Phone, new services and more

Yesterday the famous hardware maker Apple started its yearly product launch. In the so much anticipated event Apple revealed its new hardware that included Apple Watches, new iPhones, and an iPad, while the new details about Apple Arcade and Apple TV+ were also at the center. Apple revealed 3 new smartphones, which includes the iPhone 11 priced at $699 the iPhone 11 Pro at $999 and the Phone 11 iPro Max at $ 1,099. The 3 new iPhones share a similar design to their predecessors, however, the company improved their particular camera systems and gave them the ability to provide a more broad-angle photo. The company is working on a new battery system as well, that will provide longer battery life to their devices but also faster performance as well.

U.S. stocks close with little change

On Tuesday the U.S Stocks finished their trading session day with limited change, pressed under by a progressive drop in technology stocks. The Dow Jones Industrial Average exceeded expectations, climbing more than 73.90 points and went up to 26,909.40. The Dow Jones registered a five-day winning streak. The Nasdaq Composite ended marginally cheaper at 8,084.15 while the S&P 500 finished just over the resistance at 2,979.35. A drop was noted on Amazon that fell 0.6% while Facebook fell almost 1.5%. The popular streaming service Netflix dropped 2.2% following Apple's release of TV service for $4.99 per month.

Gold gains positive momentum

On Wednesday the famous safe-haven metal Gold went higher, breaking down almost 5 days of losses. The positive momentum came while traders anticipated the European Central Bank’s conference, where it is generally expected that ECB will lower interest rates. The U.S. gold futures were little changed at $1,498.7 an ounce while Spot gold gained 0.3% at $1,490.08 per ounce. In the previous trading session, Gold declined to its weakest level since last month at $1,483.89.

Bigger than expected decline in Oil stockpiles pushed the prices higher

On Wednesday Oil exchanged at higher levels following an energy statement that revealed that the U.S. crude stockpiles declined in the previous week near double the number that analysts anticipated. West Texas Intermediate (WTI) futures advanced 54 cents, to $57.93 a barrel.

Brent crude futures grew 51 cents, to $62.90 a barrel.

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