Apple kicked off its fall product event on Tuesday by diving right into lots of product announcements.
Here’s what Apple announced:
– The new iPad and iPad mini
– The Apple Watch Series 7
– The iPhone 13 and iPhone 13 mini
– The iPhone 13 and iPhone 13 Pro Max
The new iPads will go on sale after the event on Tuesday and ship next week. The new iPhones go on sale on Friday, Sept. 17 and ship on Friday, Sept. 24. The Apple Watch Series 7 will ship later this fall. OF note: it didn’t announce new AirPods.
Apple CEO Tim Cook returned to the stage in an empty auditorium to wrap up the event and the company’s announcement, exiting to another montage of beautiful California landmarks.
Apple announced new iPads, iPhones and Apple Watch models. It did not, contrary to some predictions, release new AirPods headphones.
The dollar held near three-week highs against a basket of major currencies on Friday after a raft of strong U.S. economic data rekindled expectations of an earlier policy tightening by the U.S. Federal Reserve.
U.S. retail sales unexpectedly increased in August, rising 0.7% from the previous month despite expectations of a 0.8% fall, while a business sentiment survey by the Philadelphia Fed also showed a big improvement.
“Yesterday’s data were pretty strong across the board,” said Yujiro Goto, chief currency strategist at Nomura Securities. “The markets had been worried that consumption would be weak in August because of the Delta variant. But retail sales were surprisingly strong.”
The figures helped to curb cautious views on the U.S. economy after a tame consumer inflation reading and soft job growth data earlier this month, and revived expectations for an early Fed tapering.
The more bullish mood faces another test later on Friday with the release of University of Michigan’s consumer sentiment index, which surprised many investors last month by tumbling to a decade-low due to smaller income gains and higher inflation.
Asian shares steadied in early trading on Friday after losses earlier in the week, but China jitters and global growth concerns weighed on investors’ minds, while the dollar sat near a three-week high.
MSCI’s broadest index of Asia-Pacific shares outside Japan recovered from early losses to trade flatbut was still down 2.7% on the week.
Hong Kong’s Hang Seng Index rose 0.5% after posting its lowest close in 10 months the day before, as the saga around China Evergrande Group lurched towards a conclusion, unsettling investors.
The embattled property developer’s shares dropped a further 5% on Friday.
Australian shares fell 1.03%, as a fall in iron ore prices hurt miners. However, Chinese blue chips eked out a 0.26% rise and Japan’s Nikkei edged up 0.42% to head back towards a 31-year high hit on Monday.
U.S. stock futures, the S&P 500 e-minis, were down 0.6%.
Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.
It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services