Spreadex Market Update
Quiet morning as market awaits Greek news; Apple to announce after market closes
A lack of news from the Greek parliament over the progress of the latest creditor-specified legislation (or really, any news at all) has meant that investors have lacked a reason to buy into the Eurozone indices this morning, leaving both the DAX and the CAC almost horizontal. Any news from Greece should spark some interest this afternoon, but for now the Eurozone indices are acting as if Tuesday’s trading is yet to start.
The UK’s public sector net borrowing improved year-on-year, at a marginally lower pace than expected, but failed to give much of a boost to sterling as the euro had a bit of a comeback against both the pound and the dollar. It also couldn’t awaken the FTSE from its morning snooze, and with meagre stability in the commodity sector the only other thing of note on this quiet Tuesday morning, the UK index failed to do much of anything as the day went on.
The US futures looked similarly sleepy this Tuesday morning, but at least have the promise of another day of earnings season to look forward to. Frustratingly, the most important release happens after the close, as Apple reveals its fiscal third quarter results. Astronomical expectations are, as always, the biggest threat to Apple’s price; a threat, however, that the company expertly navigated with its stellar first and second quarter announcements. The stock is lingering only a few dollars away from its all-time highs, and could easily surpass that record if Apple announces the kind of dazzling figures it is more than capable of. Fighting for investors’ attention will be Microsoft and Yahoo, who both also announce after the market closes.
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Morning Market Comment 21/07/2015
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Stock of the day 20/07/2015 - Apple Inc
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