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On October 20th, Loop Capital became another institution optimistic about the positive trend in iPhone demand. After Loop Capital upgraded Apple (AAPL.O)s stock rating from "hold" to "buy," Apples stock price is expected to open near its all-time high on Monday. The stock rose 1.4% in pre-market trading, just one step away from its all-time high set in December of last year. The current closing price is still about 2.6% below that record. Despite its recent strong performance, Apples gains so far in 2025 have been limited, underperforming the Nasdaq 100 Indexs 18% increase. Analyst Ananda Baruah noted: "We are at the beginning of Apples long-expected device refresh cycle, which suggests that iPhone shipments will continue to grow until the end of 2027." He added that this reflects "demand momentum driven by both the replacement cycle and the new design cycle," referring to the speed at which users replace their old devices.Merck (MRK.N): will invest more than $70 billion to expand production and R&D in the United States.Micron Technology (MU.O) shares rose 4.2% in premarket trading after Barclays raised its price target.Spot gold touched $4,300 an ounce, rebounding about $80 from the intraday low, with an intraday increase of 1.37%.On October 20, Hungarian Foreign Minister Peter Szijjarto stated on social media that the EU plans to pay billions of euros and a large amount of weapons to Ukraine, which will be paid for by significantly increasing public spending. Hungary must resist this.

GBP / USD Advances To 1.1950 As Investors Ignore Aggressive Fed Bets And Concentrate On UK Data

Alina Haynes

Mar 10, 2023 11:35

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During the Asian session, the GBP/USD pair successfully relocated its business above 1.1950. The Cable is attempting to extend its recovery towards 1.1950 despite investors' lack of concern regarding the United States Nonfarm Payrolls (NFP) report. Moreover, investors have begun to disregard the volatility associated with aggressive Fed rate hike wagers. Investors are aware that higher inflation could be contained by restrictive Fed measures; consequently, an increase in Fed interest rates is likely.

 

In the Asian session, S&P500 futures have extended their losses from Thursday, when investors were discouraged by higher taxes on corporations, billionaires, and wealthy investors. Higher taxes on corporations will reduce their Net Profit margins, resulting in lower dividends for shareholders.

 

The US Dollar Index (DXY) fell below Thursday's low of 105.13 on expectations that the US labor market is not as robust as previously thought. The US labor market may decelerate soon, according to an increase of 11% in Initial Jobless Claims and a quadrupling of planned layoffs by US companies. This may compel the Fed to continue its gradual pace of rate increases.

 

Notwithstanding, the release of the US NFP will be of the utmost importance to the market. The number of payrolls in the United States increased by 203K in February, as predicted. It is anticipated that the unemployment rate will remain at 3.4%.

 

On the front of the British Pound, manufacturing sector data will be intently observed. Monthly Manufacturing Production (January) and Industrial Production are anticipated to decrease by 0.1% and 0.2%, respectively.

 

Investors should be aware that the performance of the manufacturing sector in the United Kingdom has remained fragile over the past few months. This may compel the Bank of England (BoE) to pause policy tightening for the time being, allowing current monetary policy to demonstrate its impact.


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