Dow tumbles more than 600 points on Apple plunge, rising fears of an economic slowdown

U.S. stocks fell sharply on Thursday following a dire quarterly warning from Apple. The iPhone maker blamed a slowing Chinese economy for the shortfall, intensifying fears that the global economy may be slowing down because of the ongoing trade war. A weaker-than-expected reading on U.S. manufacturing added to those fears. The Dow Jones Industrial Average dropped 660.02 points, or 2.8 percent, to 22,686.22 as Apple shares led the decline. The 30-stock index tumbled to its low of the day right before the close, trading down as much as 707.83 points. Read More @ https://www.cnbc.com/2019/01/03/tech-shares-dive-after-hours-after-apple-warning-nasdaq-etf-loses-nearly-2-percent.html

WHAT IS THE TECHNICAL CHARTS SAYING?

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES

  1. 9.45am – China will release their caixin data – expected to be weak.
  2. 3.45pm – 5.00pm – Spain, Italy, Germany, France and EURO will release their services PMI – It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy. Expected to be mixed.
  3. 5.30pm – UK will release their Services PMI – expected to be good.
  4. 6.00pm – EURO will release their CPI – volatility on EURO pairs are expected.
  5. 9.30pm – Canada will release Employment Change – expected to be weak.
  6. 9.30pm – US will release their NFP data – volatility expected.
  7. 11.15pm – FED Chairman Powell will speak – volatility expected.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

 

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