Nasdaq falls as Apple unveils iPhone 15, crude oil hits highest level since Nov 22

13Sep

Nasdaq falls as Apple unveils iPhone 15, crude oil hits highest level since Nov 22

 

The Nasdaq Composite fell Tuesday after Oracle shares plunged on disappointing results, whilst Apple unveiled the new iPhone model.

The Nasdaq slid 1.04 per cent to 13,773.61 in its first losing day in three. The S&P 500 dropped 0.57 per cent to 4,461.90. Meanwhile, the Dow Jones Industrial Average declined 17.73 points, or 0.05 per cent, to 34,645.99.

Oracle shares posted their worst day since 2002. The software stock was the worst performer in the S&P 500, sliding 13.5 per cent after sales last quarter fell short of estimates and the company’s revenue forecast also disappointed. Oracle posted its fiscal first-quarter results late Monday. Other cloud competitors — including Amazon, Google-parent Alphabet and Microsoft — also slid.

Apple shares were lower by 1.7 per cent after the unveiling of their new iPhone model – the iPhone 15 and iPhone 15 Plus with 6.1-inch and 6.7-inch displays, respectively, similar to their previous models. These new phones come equipped with a 48-megapixel main camera that offers a 2X telephoto option for photography and 4K video recording. They are powered by the new A16 Bionic chips.

Meanwhile, Adobe shares also dropped about 4 per cent ahead of the company’s earnings results this week.

Albemarle Corporation has received a $90 million grant from the US Department of Defense to bolster domestic mining and lithium production for the nation's battery supply chain.

The funding, allocated through the Office of the Assistant Secretary of Defense for Industrial Base Policy and utilising Defense Production Act authorities, will enable Albemarle to acquire a fleet of mining equipment. This equipment will support the company's efforts to reopen its lithium mine in Kings Mountain, North Carolina, contributing to the domestic production of critical lithium resources for battery manufacturing.

Elsewhere, US crude prices touched the highest level since November of last year as OPEC on Tuesday kept to a robust demand growth forecast this year and next. West Texas Intermediate crude oil futures settled at $88.84 a barrel. That’s up from around $66 a barrel in March.

Energy stocks got a boost. Shares of Chevron and Exxon Mobil were each higher by about 1.9 per cent and 2.9 per cent, respectively.

Much attention is focused on key inflation data due later in the week, with the consumer price index expected Wednesday and the producer price index slated for Thursday. The European Central Bank is also set to announce its latest interest rate decision Thursday.

Turning to US sectors, Energy was the best performer, closing 2.31 per cent higher, after the lift in the price of crude oil. Tech was the worst performer.
 
Futures

The SPI futures are pointing to a 0.3 per cent fall

Currency

One Australian dollar at 7:25 AM was buying 64.24 US cents.

Commodities

Gold lost 0.62 per cent. Silver added 0.08 per cent. Copper dropped 0.39 per cent. Oil gained 1.78 per cent.

Figures around the globe

European markets closed mixed. London’s FTSE gained 0.41 per cent, Frankfurt fell 0.54 per cent, and Paris closed 0.35 per cent lower.

Turning to Asian markets, Tokyo’s Nikkei gained 0.95 per cent, Hong Kong’s Hang Seng fell 0.39 per cent while China’s Shanghai Composite closed 0.18 per cent lower.

The Australian sharemarket closed 0.20 per cent higher at 7,207.

Ex-dividends

Accent Group Ltd (ASX:AX1) is paying 5.5 cents fully franked
Breville Group Ltd (ASX:BRG) is paying 15.5 cents fully franked
Brambles Limited (ASX:BXB) is paying 21.83 per cent 35 per cent franked
Dusk Group (ASX:DSK) is paying 3 cents fully franked
EVT Limited (ASX:EVT) is paying 20 cents fully franked
Glennon SML Co Ltd (ASX:GC1) is paying 2 cents fully franked
Ivegroup (ASX:IGL) is paying 8.5 cents fully franked
IGO Limited (ASX:IGO) is paying 60 cents fully franked
Joyce Corporation (ASX:JYC) is paying 17.5 cents fully franked
Mercury NZ Limited (ASX:MCY) is paying 12.1251 cents unfranked
Maas Group Holdings (ASX:MGH) is paying 3 cents fully franked
Medibank Private Ltd (ASX:MPL) is paying 8.3 cents fully franked
Pm Capital Fund (ASX:PGF) is paying 5 cents fully franked

Dividends payable

APA Group (ASX:APA)
Eumundi Group Ltd (ASX:EBG)
Lendlease Group (ASX:LLC)
Pengana Capital Group Ltd (ASX:PCG)
Reef Casino Trust (ASX:RCT)
Thorn Group Ltd (ASX:TGA)
Zimplats Holdings Ltd (ASX:ZIM)

Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap.

Disclaimer

The views, opinions or recommendations of the commentators in this presentation are solely those of the author and do not in any way reflect the views, opinions, recommendations, of Sequoia Financial Group Limited ABN 90 091 744 884 and its related bodies corporate (“SEQ”). SEQ makes no representation or warranty with respect to the accuracy, completeness or currency of the content. Any prices published are accurate subject to the time of filming and shouldn’t be relied upon to make a financial decision. Commentators may hold positions in stocks mentioned and companies may pay FNN to produce the content at times. The content is for educational purposes only and does not constitute financial advice. Independent advice should be obtained from an Australian Financial Services Licensee before making investment decisions. To the extent permitted by law, SEQ excludes all liability for any loss or damage arising in any way including by way of negligence.
Copyright 2023 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

02Dec

Economy expands 3.3% in September quarter: ASX tracking 0.3% lower at noon

02 Dec 2020 - The ASX had a promising open then took a tumble before midday trade and is now tracking 0.3% lower at noon. Shares in Mesoblast (ASX:MSB) soared today after they announced the FDA has a fast track designation for remestemcel-L in the treatment of Covid-19 infection symptons. Materials is the only sector in the black so far today. Nickel Mines (ASX:NIC) has launched a $364 million capital raising to fund its initial 30% interest in the...

Read More
27Nov

Bega raises $284M: Aus shares 0.4% lower at noon

27 Nov 2020 - The Australian share market opened slightly lower and has made a modest decline in the first 2 hours of trade. Energy stocks are dragging on the market. Most of the sectors are trading in the red. Shares in Bega Cheese (ASX:BGA) have rallied this morning, after it successfully raised $284 million, via the institutional component of its 1 to 4.5 pro rata entitlement offer, and its underwritten institutional placement.

Read More
17Nov

Payroll jobs rise in Victoria: ASX closed 0.2% higher

17 Nov 2020 - It has been a positive day of trade for the Australian share market the local bourse managed to close 0.2 per cent higher. Although many sectors did close in the red with Infotech faring the worst. Charter Hall (ASX:CHC) wholesale partnership Long Wall Hardware Partnership, acquired a $353 million portfolio of six Bunnings assets located in prime metropolitan markets.

Read More
24Aug

Local shares to slide at the open: David Murray, John Fraser and Boe Pahari have all resigned from their positions at AMP

24 Aug 2020 - Local shares are set to start the week in negative territory despite a strong finish to the week on Wall Street. David Murray, John Fraser and Boe Pahari have all resigned from their positions at AMP. New Zealand telco Chorus has reported $52 million in net profit for the 2020 financial year just shy of the $53 million made last year.

Read More
23Aug

S&P500 falls as Treasury yields rise

23 Aug 2023 - The S&P 500 fell Tuesday, weighed by concerns over rising Treasury yields ahead of a key speech later this week from Federal Reserve Chairman Jerome Powell, as well as declines in banking and retail shares.

Read More
24Jun

Many employees content to stay working from home: ASX set to rise at the open

24 Jun 2020 - Following a rise from US markets for a second day, the ASX looks set to open higher this morning. The US business reopening plans are in disarray as Covid-19 is detected in hotspots such as Texas, Florida, Arizona and California. Back home, a new survey has shown how coronavirus has changed our attitudes to work. Up to 60% of respondents want to split their working time between home and office. The AUD rose again against...

Read More
22Jan

ASX hits record high: Aus shares close 0.9% higher

22 Jan 2020 - The Australian share market hits a new high closing 0.9 per cent up. iSighthis (ASX:ISX) updates shareholders on court action against the ASX. PolyNovo (ASX:PNV) led gains on Europe product sales.

Read More
19Nov

Market claws back on bank rally: ASX closes 0.3% higher

19 Nov 2020 - After a shaky start the ASX closed 0.3% higher today. Shares in ALS (ASX:ALQ) did well after reporting strong second quarter performance. Shares in Elders (ASX:ELD) dropped over 11%. 5G Networks (ASX:5GN) has acquired the Brisbane Data Centre in Fortitude Valley.

Read More
11Nov

Wall St falls, Iron ore under US$90, CSL’s rating gets upgraded: ASX to dip

11 Nov 2021 - Wall St falls after inflation soars to highest since 1990. European markets despite food operator Hello Fresh falling on rival’s US acquisition. Asian markets mixed on hot inflation figures. The ASX dips for the 3rd straight day ahead of the big jobs report expected to see a fall of 50k jobs in October. Macquarie upgraded CSL’s (ASX:CSL) rating.

Read More
28Feb

Dow dips, Macy’s and Lowe’s gain, Viking Therapeutics soars

28 Feb 2024 - The S&P 500 and the Nasdaq Composite ended Tuesday’s session with modest gains as investors prepared for key inflation data to be released later this week.

Read More