Apple’s earnings lift the Dow

Daily Analysis - 30/01/2019

Dow registered gains after apple earnings report

On Tuesday the Dow Jones Industrial Average increased lightly while the stock market anticipated the newest quarterly results from Apple. The index increased more than 51 points. The Nasdaq Composite, fell about 0.8% to finish at 7,027. The S&P 500 slid more than 0.10%. Shares of Apple climbed 6%. Apple announced that the numbers for its fiscal first quarter are restructuring. They are allowing gross margin values for its products and services parts and keeping unit sales numbers for its most famous items, including iPhone.

Gold reaches an 8-month peak

On Wednesday Gold price went up and scored its highest level since last year. Gold backed due to the skepticism over US - China trade relationships but also the expectations that the FED will pause rates later in the day. The U.S. gold futures surged 0.3% to $1,312.29 per ounce while Spot gold gained about 0.2% at $1,313.90 per ounce following its highest level since 2018. Traders now are anticipating the Federal Reserve's policy decision. They expect that officials will strengthen their current dovish stance by giving more positive signs for a pause on the slowdown in the U.S. economy.

Oil prices going up

On Wednesday Oil prices climbed due to fears regarding the supply interruptions following U.S. penalties on Venezuela's oil industry.

International Brent crude oil futures went up 17 cents, to $61.50 per barrel. U.S. West Texas Intermediate (WTI) crude futures went at $53.42 per barrel about 0.2%, above their last close.

The increases supported by a 2% increase in yesterday session when markets heard about the U.S. penalties regarding Venezuela's oil exports.

Sterling gained 0.2%

The GBP tried to recover following the fall due to fresh fears regarding the likelihood of a no-deal on the Brexit deal. The greenback eased on the anticipation of the Federal Reserve's policy decision.

The GBP went up about 0.2% to $1.3090 following a fall suffering cost of more than 0.5% while lawmakers refused a proposition to grant parliament a way to stop a chaotic hard exit. A senior currency strategist at Daiwa Securities, Yukio Ishizuki stated, "It is difficult to tell what's next for the pound. But the March 29 Brexit deadline will likely be extended, and the focal point is on when and how such an extension is decided upon."