On 1st October 2019, big tech companies Apple and Microsoft took a major leap as their stock prices increased by a huge margin. Individually speaking, Apple rose to 2.4% and Microsoft had a 0.9% rise. The interesting thing is, stock prices are rising amid tensions between the two superpowers, the US and China.
The shares of Apple rose as a result of Chief Executive Officer Tim Cook informing a German Daily of the success Apple’s new iPhones were experiencing. This good news spread like wildfire and stock prices went up making investors feeling happy and secure. Besides, JP Morgan’s raising its forecast for shipment volumes was another factor that made the stock prices rise.
Moreover, morales at the wall street were lifted with another great news from White House trade adviser Peter Navarro. He made it clear that the reports that Donald Trump was considering delisting Chinese companies from U.S. stock exchanges were “fake news”. There is no evidence to support those claims.
More on the same topic, Phil Blancato, chief executive officer of Ladenburg Thalmann Asset Management in New York said: “This idea of using different types of levers that impact trade negotiations is something that we will get accustomed to”. He admitted that being adaptable and have the willingness to accept random unexplained changes is the only way ahead.
When is the next trade talk between the US and China?
According to a report by CNBC, the next trade talks between the US and China are scheduled on 10th and 11th October 2019. This high stakes meeting can decide the fate of millions of shareholders across the world.
The meeting will be held in Washington and it will be between Chinese Vice Premier Liu He and the U.S. Trade Representatives. Mr. Liu will be negotiating on behalf of Chinas’ President Xi Jinping.