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    AAPL   US0378331005


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Dollar gains, global stocks slip as big tech weighs

03/30/2021 | 04:29pm EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

NEW YORK (Reuters) - The dollar rose and a gauge of global equity markets slipped on Tuesday as rising U.S. Treasury yields dampened the appeal of big U.S. tech stocks and led investors on both sides of the Atlantic to shares that stand to benefit as economies re-open.

The stronger dollar and rising yields, along with expectations of a strong recovery, sapped demand for safe-haven bullion and pushed gold prices lower.

European shares advanced to near-record highs on hopes of a vaccine-driven recovery as investors looked past the fallout of U.S. hedge fund Archegos' default, which slammed Credit Suisse and Nomura shares hard on Monday.

The STOXX 600 index gained 0.7%, putting the pan-European index less than 1% from its pre-pandemic peak, while bank and mining stocks pushed the blue-chip FTSE 100 index in London to close 0.5% higher.

Microsoft Corp, Apple Inc, Amazon.com Inc and Facebook Inc led the S&P lower, while Tesla Inc, JPMorgan & Co., Bank of America and Wells Fargo & Co. were the top advancing stocks.

The playbook of the past month was for the most part evident in Tuesday's session, said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.

"When rates are higher you tend to see financials act better and the large-cap tech stocks tend to be for sale. They have a problem making headway," James said.

"Look at Apple, Facebook, Amazon, Microsoft, they're all lagging in a meaningful way today," he said.

Microsoft fell 1.44%, with Apple down 1.23%, 0.97% and 0.66%.

The Nasdaq tried to edge higher shortly before the market close as the yield on the benchmark 10-year Treasury note shed 6 basis points from 14-month highs to end slightly lower at 1.714%.

While the major U.S. equity indexes fell, advancing shares outnumbered declining issues by more than 1.4:1, a sign of the impact big tech has on Wall Street and MSCI's benchmark for global equity markets.

The MSCI all-country world index fell 0.11% to 672.08, while its index for emerging markets stocks rose 0.71% as travel-related stocks lifted Brazil's Bovespa index.

The Dow Jones Industrial Average fell 0.31%. The S&P 500 slid 0.32% and the Nasdaq Composite slipped 0.11%.

Bets on a speedy economic recovery driven by the vaccine rollout and unprecedented stimulus lifted the S&P 500 and the Dow to record closing highs last week.

The dollar climbed to a one-year high against the yen and rose against major currencies on the increasing distribution of U.S. vaccines and President Joe Biden's plans to spend up to $4 trillion on infrastructure.

Biden is expected to announce his plan on Wednesday in Pittsburgh, details of which spurred yields higher on concerns the spending could push up the government deficit.

The 10-year Treasury yielding 1.7% is not the harbinger of a bad economy, said Jason Pride, chief investment office for private wealth at Glenmede in Philadelphia. But there are concerns that inflation may be on the horizon, he said.

"Now we're starting to see the concerns of what comes after you have an economy recovering and you're injecting all this fiscal stimulus," he said. "Does that mean the Fed has to raise rates to slow things down? The answer to that is 'kind of.'"

The dollar index rose 0.423%, with the euro down 0.4% to $1.1715. The Japanese yen weakened 0.49% versus the greenback at 110.34 per dollar.

The rally in European shares and signs of a pick-up in inflation in big euro zone economies weighed on euro-area bonds, pushing 10-year yields up 4 to 5 basis points across the board.

U.S. gold futures settled down 1.7% at $1,686 an ounce. Spot gold fell 1.72% to $1,682.58.

Oil prices slid as the Suez Canal reopened to traffic, while focus turned to an OPEC+ meeting this week that analysts expect will approve an extension to supply curbs amid disappointing demand prospects.

Brent crude futures slid 84 cents to settle at $64.14 a barrel, while U.S. crude futures settled down $1.01 at $60.55 a barrel.

(Reporting by Herbert Lash; Editing by Dan Grebler and Sonya Hepinstall)

By Herbert Lash

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTER YOU PUBLIC COMPANY LIMITED -2.48% 9.85 End-of-day quote.-7.94%
APPLE INC. 0.15% 145.86 Delayed Quote.9.93%
AUSTRALIAN DOLLAR / EURO (AUD/EUR) -0.50% 0.6186 Delayed Quote.-1.28%
AUSTRALIAN DOLLAR / JAPANESE YEN (AUD/JPY) -0.47% 80.542 Delayed Quote.1.91%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.71% 0.7343 Delayed Quote.-3.87%
BANK OF AMERICA CORPORATION -0.83% 38.36 Delayed Quote.26.56%
BRITISH POUND / EURO (GBP/EUR) -0.31% 1.1707 Delayed Quote.4.95%
BRITISH POUND / JAPANESE YEN (GBP/JPY) -0.20% 152.445 Delayed Quote.8.27%
BRITISH POUND / US DOLLAR (GBP/USD) -0.47% 1.38978 Delayed Quote.2.12%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.00% 0.675635 Delayed Quote.4.98%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) 0.01% 87.892 Delayed Quote.8.35%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.8013 Delayed Quote.2.23%
CREDIT SUISSE GROUP AG -0.04% 9.106 Delayed Quote.-20.12%
DJ INDUSTRIAL -0.42% 34935.47 Delayed Quote.14.13%
DOW JONES FXCM DOLLAR INDEX 0.08% 11904.52 Delayed Quote.1.71%
EURO / JAPANESE YEN (EUR/JPY) 0.06% 130.167 Delayed Quote.3.26%
EURO / US DOLLAR (EUR/USD) -0.18% 1.18684 Delayed Quote.-2.65%
FACEBOOK INC -0.56% 356.3 Delayed Quote.30.44%
FTSE 100 -0.65% 7032.3 Delayed Quote.9.56%
GOLD -0.88% 1814.15 Delayed Quote.-3.57%
IBOVESPA -3.08% 121800.79 Delayed Quote.5.59%
INDIAN RUPEE / EURO (INR/EUR) 0.00% 0.011329 Delayed Quote.1.10%
INDIAN RUPEE / JAPANESE YEN (INR/JPY) 0.00% 1.475144 Delayed Quote.4.34%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.00% 0.013452 Delayed Quote.-1.63%
JAPANESE YEN / SWISS FRANC (JPY/CHF) -0.31% 0.8252 Delayed Quote.-3.44%
JPMORGAN CHASE & CO. -0.80% 151.78 Delayed Quote.19.45%
LONDON BRENT OIL -0.82% 75.16 Delayed Quote.44.56%
MICROSOFT CORPORATION -0.56% 284.91 Delayed Quote.28.10%
NASDAQ 100 -0.59% 14959.896306 Real-time Quote.16.53%
NASDAQ COMP. -0.71% 14672.677608 Real-time Quote.14.54%
NEW ZEALAND DOLLAR / JAPANESE YEN (NZD/JPY) -0.27% 76.49 Delayed Quote.3.48%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.49% 0.6974 Delayed Quote.-2.36%
NOMURA CO., LTD. -2.30% 850 End-of-day quote.-0.23%
S&P 500 -0.54% 4395.26 Delayed Quote.17.16%
STOXX EUROPE 600 -0.45% 461.74 Delayed Quote.16.24%
STOXX EUROPE 600 NR -0.45% 1033.73 Delayed Quote.18.06%
SUEZ 0.13% 19.67 Real-time Quote.21.27%
TESLA, INC. 1.45% 687.2 Delayed Quote.-2.62%
US DOLLAR / EURO (USD/EUR) 0.18% 0.842574 Delayed Quote.2.72%
US DOLLAR / JAPANESE YEN (USD/JPY) 0.19% 109.615 Delayed Quote.6.02%
WELLS FARGO & COMPANY -1.20% 45.94 Delayed Quote.52.22%
WTI 0.53% 73.659 Delayed Quote.50.25%
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Financials (USD)
Sales 2021 365 B - -
Net income 2021 93 366 M - -
Net cash 2021 78 467 M - -
P/E ratio 2021 26,3x
Yield 2021 0,59%
Capitalization 2 411 B 2 411 B -
EV / Sales 2021 6,39x
EV / Sales 2022 6,17x
Nbr of Employees 147 000
Free-Float 99,0%
Duration : Period :
Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 47
Last Close Price 145,86 $
Average target price 162,20 $
Spread / Average Target 11,2%
EPS Revisions
Managers and Directors
Timothy Donald Cook Chief Executive Officer & Director
Luca Maestri Chief Financial Officer & Senior Vice President
Arthur D. Levinson Independent Chairman
Kevin M. Lynch Vice President-Technology
Jeffrey E. Williams Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
APPLE INC.9.93%2 411 090
DORO AB (PUBL)30.41%171