Archives of “October 13, 2021” day

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China September trade data due today – another strong showing from exports expected

  
  Analysis

There is no firmly scheduled time for this data release from China, some time after 0200GMT is usually the safe bet.

Yuan terms

China trade balance:

 

  • expected CNY 386bn, prior was CNY 376bn

 

Exports y/y:

 

  •  expected 17.1%, prior was 15.7%

 

Imports y/y:

 

  • expected 22.3%, prior was 23.1%

 

 

USD terms

China trade balance:

 

  • expected $47.6bn, prior was $58.3bn

 

Exports:

 

  • expected 21.5%, prior 25.6%

 

Imports:

 

  • expected 19.2%, prior was 33.1%

US stocks drift lower and close lower for the third consecutive day

  
Analysis, US Market

Stocks struggle to move higher

The US stocks could not sustain positive levels and drifted lower into US afternoon. The major indices are closing lower for the third consecutive day.

At the close, Apple announced that they would have to cut production of the iPhone due to chip crunch.  Apple shares are down -1.1% after the close.
  • Dow S&P and NASDAQ post a three day stock decline
  • S&P closes around 4% from its all-time high
  • Dow closes about 3% from its all-time high
  • NASDAQ closes -6% below its all-time high
The final numbers are showing:
  • Dow Jones -117.72 points or -0.34% at 34378.33
  • S&P index -10.56 points or -0.24% at 4350.64
  • NASDAQ index -20.27 points or -0.14% at 14465.93
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