Yes, Apple Inc. was the spanner in the equity markets’ works yesterday. In all fairness, it was actually the Chinese government turning the screw on Apple, as it sought to broaden its ban on foreign technology further. As Apple‘s share price dropped for the second day in a row, the impact was felt most in the tech sector and saw the Nasdaq composite fall for a fourth consecutive session yesterday, closing down 0.89%. Data released on US jobs and labour costs also upset markets and has provided some ammunition for the Fed to keep monetary policy tight for longer. Meanwhile the US dollar maintained its strength. Thomas Caflisch, Head of FX & PM Solutions, sums it up nicely today: “The dollar always trades at the level which suits the US best."
00:00 Introduction by Helen Freer (Investment Writing)
00:20 Markets wrap-up by Bernadette Anderko (Investment Writing)
05:50 FX and metals update by Thomas Caflisch (Head of FX & PM Solutions)
08:39 Closing remarks by Helen Freer (Investment Writing)
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