Markets
The markets await PCE, bitcoin, Apple’s App Store: 3 things
Stock Futures (^DJI, ^IXIC, ^GSPC) to appear mixed to start the week after indexes rose alongside new highs last week, while investors and markets are also keeping an eye on a number of key economic data, including the The personal consumption expenditures (PCE) index will be released on Friday.
Bitcoin (BTC-USD) extends its losses after falling 10% in the last 30 days and more than 5.7% in the last week alone. This morning the cryptocurrency surpasses $61,000.
Apple (AAPL) has come under fire again from the European Commission after regulators found that Apple’s App Store violates the Digital Markets Act.
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This post was written by Luke Carberry Mogan.
Video transcription
Three things you need to know this Monday morning as you prepare for the trading day.
Yahoo Finance is Jared.
And as for A and Josh, stock futures are mixed this morning after hitting new highs last week.
S and P futures near the flat line after the index closed the week higher and hit an intraday high above 1,005,505.
The Dow had its best week since May on Thursday, closing up more than 1%, and investors anxiously await a batch of economic data.
We’ll get consumer confidence, the second GDP revision for the first quarter, a slew of real estate data, all culminating in Friday’s PC inflation report.
Now Wall Street expects prices on a core basis, which excludes food and energy, to rise just 1/10th of a percentage point last month.
This would likely mark the slowest monthly rise since last November and Bitcoin’s extended losses are hovering around 61,000 after a bad week for cryptocurrencies. Bitcoin has fallen more than 5% over the past five trading days.
The Spot Bitcoin ETF has suffered the most, suffering more than $500 million and outflows in the past week.
The decline reflects cooling demand for Bitcoin ETFs.
It all comes after the cryptocurrency hit a record high of over 73,000 in March, and Apple is in trouble, with regulators once again the European Commission saying Apple is violating new rules meant to protect competition on its APP store.
According to the commission, under the terms of the Digital Markets Act, developers of Apple’s APP Store should be able to inform their customers about alternative and cheaper purchasing options and direct them to such offers, all free of charge.
The investigation found that Apple was not compliant.
EU regulators are also opening a new investigation into Apple over contractual terms the tech giant has set for developers.