Anticipation of the Apple Watch was able to generate enough enthusiasm on Monday to allow US stocks to retrace some of Friday’s losses at the hands of the strong February jobs report. Speculation over an impending US rate hike is back again with a vengeance on Tuesday morning with the dollar making multi-year highs versus the euro and Japanese yen.
US stocks markets are not taking the dollar strength well with the Dow looking like giving up all of yesterday’s gains with triple digit losses on Tuesday’s open.
Apple shares closed fractionally higher on the release of the new Apple Watch, upgraded MacBook Air and the price cut on Apple TV. The Apple Watch and especially the $10,000+ gold-plated Apple Watch Edition has firmly divided opinions. Until hard data is available on initial selling volumes of the watch; Apple shares (NASDAQ:AAPL) could remain below recent peaks.
QUALCOMM Incorporated (NASDAQ:QCOM) shares are expected to open higher after the telecommunications supplier announced a $15bn buyback and raised its dividend by 14%.
Urban Outfitters Inc (NASDAQ:URBN) shares should open higher after beating earnings expectations overnight.
Earnings are expected from Barnes & Noble Inc (NYSE:BKS) and Verifone Systems Inc (NYSE:PAY).
Futures suggest the:
S&P 500 will open 15 points lower at 2,064 with the
Dow expected to open 133 points lower at 17,862 and the
Nasdaq 100 30 points lower at 4,382.
CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.