Apple Volatility After Keynote

Weekly Report - 11/09/2016

Tax Liability and New Products Sees Mixed Market

Apple stocks climbed after having declined on the shoulders of a €13 billion tax debt to Ireland after investigation by the proper authorities. Their new iPhone 7 device feature stereo speakers, longer lasting battery, water and dust resistance, a new camera and a faster A10 processor. At the keynote CEO Tim Cook also presented the new Apple Watch series. Markets are muted to the mixed news.

Last Week

The European Central Bank left its monetary policy unchanged last week, after ECB President Mario Draghi stated that the program will remain at present or lower levels for an extended period of time. Efforts by the central bank have so far kept the economy afloat while also mitigating the Brexit’s ripple effect, and once again the need for fiscal intervention is reiterated.


Upcoming Week

The Bank of England meets on the 15th of September, another super Thursday event for the UK. After having cut rates to their lowest levels of 0.25% and raising the QE program to 435 billion Pounds, Governor Mark Carney expressed that the central bank is comfortable with the new policy and is willing to act even further if board members see economic headwinds in the near future.


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