US Stocks Finished Higher as Optimism Over Apple Pre-orders and Plunging Gas Fuel Prices

US stocks finished higher Monday, with tech behemoth Apple helping the market extend a winning streak ahead of fresh inflation data that will figure into the Federal Reserve’s thinking on monetary policy. US stocks closed higher, logging a fourth straight advance.

The three most widely followed indexes in the U.S. are the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite.

All three of Wall Street’s major equity indexes closed higher for a fourth consecutive session. The indexes last week marked their first weekly advance after three weeks of losses.

The mixed impact of the new iPhone on the US stock market.

US stocks finished higher Monday as optimism over pre-orders for Apple’s new iPhone products offset worries that the demand for the new devices is not as high as expected. Some investors are worried that the demand for the new iPhone is not as high as expected, while others believe that the new iPhone will be a big success. The mixed reaction to the new iPhone orders is having a big impact on the US stock market.

The negative impact of the new iPhone on the US stock market:

The new iPhone orders are having a negative impact on the US stock market because some investors are worried that demand for the new iPhone is not as high as expected. This is causing the stock prices of Apple and other related companies to fall.

The positive impact of the new iPhone on the US stock market:

The new iPhone orders are having a positive impact on the US stock market. Some investors are worried that the demand for the new iPhone is not as high as expected, while others believe that the new iPhone will be a big success.

  • The Dow Jones Industrial Average (DJIA) finished up 0.8%, while the S&P 500 and Nasdaq Composite both finished up 1.1%. The top gainers on the DJIA were Apple, Visa, and Nike.
  • The price of oil rose on Monday as investors became more optimistic about the pre-orders for the new iPhone.
  • The price of Brent crude rose 2.1% to $53.02 per barrel, while the price of West Texas Intermediate crude rose 2.4% to $50.66 per barrel.
  • The rise in fuel prices is putting pressure on consumers, but it is not stopping them from ordering the new iPhone.
  • Many people are willing to pay more for gasoline to get their hands on the new iPhone.US stocks finished higher on Monday.
  • Money markets have priced in a 75 bps hike next week and placed almost 20% odds on 100 basis points.
  • Gold gained 0.5% to $1,736.30 per ounce. The 10-year Treasury yield turned higher, rising 6 basis points to 3.35%
  • Bitcoin moved up 3.7% to $22,431.29.
  • Motor club AAA said gas prices could dip below $3 a gallon as the summer driving season wraps up and oil declines. But Treasury Secretary Janet Yellen is warning that US gas prices could spike this winter as oil soars once Europe stops buying Russian crude.
  • Economists widely expect a headline reading of about 8.1% and a potential contraction on a monthly basis. Headline inflation was 8.5% in July.
  • The New York Federal Reserve’s Survey of Consumer Expectations released Monday showed households expected the inflation rate to be at 5.7% one year from now, down from 6.2% in June.
  • Disney rose modestly on the Dow after activist investor Dan Loeb signaled, he’s pulling back from his call for the entertainment heavyweight to spin off ESPN.
  • Wall Street analysts have been chopping down third-quarter earnings estimates for S&P 500 companies as executives have increasingly discussed potential recession risks.

The managing director of trading at E-TRADE from Morgan Stanley, Chris Larkin said, “Last month’s milder-than-expected inflation readings may have fueled hopes the Fed would hike rates less aggressively, but [Fed Chair Jerome] Powell has been clear that the bank won’t stop until the job is done. And with market expectations of a less aggressive Fed moderated, investors may focus on other challenges the market faces, such as unrealistically high earnings estimates, and headwinds posed by an extremely strong US dollar,”

 

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