Daily News | Apple market value rising

In our top story today, Apple market value is reaching record levels thanks to positive reviews of iPhone X. Pre-orders for this new smartphone are exceptionally high and this latest product is said to be an „ultra-luxury“ phone. If everything goes according to plan, Apple market value could soon break the $1 trillion barrier. As a matter of fact, some analysts already value the company way above that, although the consensus is closer to about 900 billion.

Like we predicted, the Fed didn’t make much changes yesterday, but the consensus remains that it will most probably increase its interest rates in the last month of the year. It is important to note that Fed Chair Janet Yellen is close to the end of her term (it ends in February), so President Trump will have to nominate her successor. Jerome Powell, a moderate, seems to be the main favorite for the job. Speaking of President Trump, he will be visiting China next week, which has caused the Chinese central bank to work on strengthening the yuan. It is widely expected that the currency’s value will rise to keep Trump in a good mood given the fact that the current US president attacked China on several occasions for artificially diminishing the value of its currency in order to maintain competitiveness.

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Author: Max Rothstein

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