Beat the street: Market pause ahead of Powell and jobs; Apple vs EU; Bitcoin bonanza
Equity investors take a breather ahead of the jobs report and two public appearances from Federal Reserve Chairman Jerome Powell. EU slaps Apple with antitrust fine in the Spotify case.
Plus, Bitcoin bursts above $65,000. Record high next?
(AI Video Summary)
Market pause as traders await Powell's speech and jobs report
In today's edition of "Beat the street", Angeline Ong talks about what's happening in the market right now. She mentions that people who invest in stocks are taking a break because they're waiting for the jobs report and some important speeches from the head of the Federal Reserve, Jerome Powell. Ong also talks about how the European Union fined Apple for breaking antitrust rules and how Bitcoin's price has reached an all-time high.
Market rally discussion with Chris Vecchio
Ong is joined by Chris Vecchio, who talks about the market rally. He suggests that traders should follow the current trend until it changes. Vecchio also emphasises the significance of Powell's speeches and the non-farm payrolls report, which tells us how many jobs were added or lost in the country.
Next, Axel Rudolph analyses a chart of the S&P 500, a group of important stocks, and predicts that the market might experience a downward correction. He points out negative divergences and upcoming events, like Powell's testimony and the non-farm payrolls report, that could affect the market.
Apple hit by EU antitrust fine
Ong then talks about the EU's antitrust fine on Apple. She shows a chart of Apple's stock price, which is currently going down. She also mentions that American Airlines will have an investor conference soon and that Lyft's stock was upgraded by RBC Capital Markets, a big financial company.
Additional market news stories
Ong briefly covers other news like Macy's being a target for a takeover bid, Target's expected decrease in same-store sales, and OPEC+ members deciding to continue reducing the amount of oil they produce. She finishes by showing a chart of the Dow Jones, a group of 30 big companies' stocks, and mentions other important events happening in the upcoming week.
Overall, this video gives an overview of what's happening in the market right now and shares some insights from trading experts. It covers a range of news topics and highlights important events that traders should pay attention to.
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