EUR/USD
1.16320
0.075%
Gold
4399.05
1.005%
Oil
92.793
0.637%
USD/JPY
153.568
-0.268%
GBP/USD
1.35439
0.030%
GBP/JPY
207.996
-0.245%
Real-time News
September 9th - Apples $570 billion summer surge has placed high expectations on new CEO John Turner as the company prepares for its most anticipated event in years: Wednesdays launch of the foldable iPhone. Since the company announced price increases for several products on June 25th, the stock has risen 15%, despite that day marking its worst performance in over a year. The significant gains since then have been largely driven by enthusiasm for the new device lineup, particularly the foldable phone. However, the stock is still about 7% below its all-time high reached on July 28th. Apple remains seen as a laggard in artificial intelligence, a long-standing fundamental concern for investors. In the short term, however, the stocks fate may depend on the market response to the new iPhone, the companys ability to manage soaring memory costs, and Turners performance, who succeeded Tim Cook as CEO on September 1st. Morgan Stanley predicts the foldable iPhone will start at between $2,300 and $2,500. They estimate that Apple will ship approximately 6.5 million iPhones in the first quarter of its fiscal year ending in December, generating sales of approximately $14 billion, representing about 16% of the total expected iPhone revenue for that quarter.Market news: Uber (UBER.N) is seeking to raise approximately €4 billion through its first European bond issuance.September 9th - According to HSBC analysts, struggling European luxury goods stocks are unlikely to improve in the near future, as the second half of the year looks even more challenging. Industry bellwethers LVMH and Burberry continued their recent declines on Wednesday after brokers downgraded both to "hold," citing a continued difficult market outlook for the French companies, as representatives of soft luxury, and limited upside potential for British fashion brands following recent attempts at transformation. The industry has faced pressure this year, primarily due to weak demand in Asian markets and the impact of the Middle East wars on tourist spending. Goldman Sachs basket of luxury goods stocks is down 13% year-to-date, while LVMHs price-to-earnings ratio has fallen to its lowest level in 10 years. According to HSBCs team led by Anna, factors that could impact the luxury goods sector in the coming months include weakening growth momentum in mainland China, negative social media reactions to the trademark dispute between LVMH and Molly Tea, and slower sales growth in South Korea and North America.Turkish Energy Minister: We will begin oil exploration in the western Black Sea in the next few days.On September 9th, the Shanghai Futures Exchange (SHFE) reported the following changes in warehouse receipts for various commodities: 1. Stainless steel warehouse futures receipts: 72,020 tons, a decrease of 306 tons from the previous trading day; 2. Low-sulfur fuel oil warehouse futures receipts: 3,440 tons, a decrease of 2,050 tons from the previous trading day; 3. Medium-sulfur crude oil futures receipts: 2,961,000 barrels, unchanged from the previous trading day; 4. Rebar warehouse futures receipts: 78,146 tons, unchanged from the previous trading day; 5. Petroleum asphalt plant warehouse futures receipts: 17,490 tons, unchanged from the previous trading day; 6. Petroleum asphalt warehouse futures receipts: 2,730 tons, unchanged from the previous trading day; 7. Alumina futures receipts: 276,276 tons, an increase of 7,774 tons from the previous trading day; 8. International copper futures receipts: 7,447 tons, an increase of 26 tons from the previous trading day; 9. Gold futures warehouse receipts totaled 114,843 kg, a decrease of 15 kg from the previous trading day; 10. Hot-rolled coil futures warehouse receipts totaled 214,190 tons, a decrease of 295 tons from the previous trading day; 11. Copper futures warehouse receipts totaled 21,009 tons, a decrease of 403 tons from the previous trading day; 12. Lead futures warehouse receipts totaled 58,291 tons, an increase of 549 tons from the previous trading day; 13. Pulp warehouse futures warehouse receipts totaled 413,469 tons, an increase of 2,495 tons from the previous trading day; 14. Pulp mill warehouse futures warehouse receipts totaled 20,000 tons, unchanged from the previous trading day; 15. Butadiene rubber futures warehouse receipts totaled 24,660 tons, a decrease of 290 tons from the previous trading day; 16. TSR20 rubber futures warehouse receipts totaled 12,196 tons, unchanged from the previous trading day; 17. Aluminum futures warehouse receipts totaled 215,319 tons, a decrease of 1,858 tons from the previous trading day; 18. Fuel oil futures warehouse receipts totaled 1,000 tons, a decrease of 11,320 tons from the previous trading day; 19. Natural rubber futures warehouse receipts totaled 143,800 tons, unchanged from the previous trading day; 20. Zinc futures warehouse receipts totaled 92,382 tons, an increase of 785 tons from the previous trading day; 21. Silver futures warehouse receipts totaled 1,397,193 kg, a decrease of 7,716 kg from the previous trading day; 22. Nickel futures warehouse receipts totaled 98,651 tons, a decrease of 528 tons from the previous trading day; 23. Tin futures warehouse receipts totaled 5,598 tons, an increase of 270 tons from the previous trading day.