Dow Jones futures dip on Apple iPhone report, Treasury yields rise; Biogen Alzheimer’s drug slows regression

Dow futures fell Wednesday morning, along with S&P 500 and Nasdaq futures. The 10-year Treasury yield is close to 4%. apple (AAPLIt is said to be limiting iPhone production.




X



This iPhone report is likely to affect shares of Apple and iPhone chip makers such as Taiwan Semiconductor (TSM), from Broadcom (AVGO), Qualcomm (QCOM) And the qorvo (QRVO).

while, Biogen (Bahrain Islamic Bank) and Japanese partner Isai reported that the Alzheimer’s drug reduced cognitive decline in a late-stage trial.

Wednesday, Tesla’s competitor BYD (BYDDF) will be held a European launch event, with continued rapid global expansion. Starting China EV New (NIO) its own European event next week.

Dow jones futures contracts today

Dow futures are down 0.4% against fair value. S&P 500 futures are down 0.55%. Nasdaq 100 futures fell 0.8%. Apple stock is a member of the Dow Jones, S&P 500, and Nasdaq Composite. Broadcom, Qorvo and QCOM stocks are in the S&P 500 and Nasdaq, along with TSLA stocks.

The 10-year Treasury yield rose 2 basis points to 3.98%.

Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.


Join IBD experts as they analyze actionable stock market actionable shares on IBD Live


stock market tuesday

The stock market closed mixed on Tuesday, but after a strong open it reversed rapidly lower, with the S&P 500 cutting off intraday bear market lows.

The Dow Jones Industrial Average fell 0.4% on Tuesday stock market trading. The S&P 500 was down 0.2%. The Nasdaq Composite Index is up 0.25%. Small cap Russell 2000 rose 0.3%.

The 10-year Treasury yield jumped 9 basis points to 3.96%, its highest level in 12 years.


Top 5 Chinese stocks to watch right now


Apple iPhone Production Company

Bloomberg reports that Apple has asked suppliers to plan to purchase 90 million iPhones in the current fiscal year. Tech giant Dow Jones had expected to produce six million more phones, but the expected surge in demand did not materialize, the latest sign of weak consumer electronics spending.

The news broke after extended trading ended, so investors will have to wait until Wednesday before Wednesday to get a feel for the impact. Apple’s stock rose 0.7% to 151.76 on Tuesday, its second straight gain. Stocks are still below the 50-day and 200-day moving averages. but the line relative force AAPL stock is at a record high, according to MarketSmith Analysis.

TSM, Broadcom, Qorvo and Qualcomm stocks all hit 52-week lows or near.

Biogen Alzheimer’s drug

Biogen and Eisai reported late Tuesday that lecanemab reduced cognitive and functional decline by 27% versus placebo in an 18-month phase III trial of early-stage Alzheimer’s disease patients.

Alzheimer’s disease drugs have been out of reach. The Food and Drug Administration, in a controversial move, last year approved aducanumab Biogen for Alzheimer’s disease despite concerns about its effectiveness. Medicare coverage is limited for aducanumab, severely limiting its use.

Biogen stock, after initially rising in June 2021 based on FDA approval, has tended to decline for several months.

International Islamic Investment Bank’s stock stalled overnight.


Tesla vs. BYD: Which EV giant is the best one to buy?


BYD Europe launch event

Electric vehicle and battery giant China will hold a virtual event to kick off its massive European expansion. BYD is currently selling the Tang SUV in limited quantities in Norway. The automaker will expand to Germany and most of Europe, adding the Han sedan and Ato 3 compact crossover to its options. With BYD aiming to at least double its 2023 sales to four million, it needs to gain a solid foothold in the world’s No. 2 electric vehicle market.

On October 7, Nio will be holding his own European event. It will showcase the 2022 models, the ET7 luxury sedan, ES7 SUV and ET5, the Tesla Model 3 competitor that begins delivery in China on September 30.

On October 1, Nio will release September and third-quarter deliveries, but the startup expects record sales each month in the fourth quarter. BYD is likely to release monthly and quarterly sales in a day or two. Both of them should be logs again.

Tesla should launch global production for the third quarter and deliveries over the weekend. Tesla should report record deliveries, but China’s order raises some concern.

BYD stock fell 1.4% Tuesday to 26.68, near four-month lows. Nio stock fell 2.4% to 17.19, still bottoming but falling more than the 200-day and 50-day lines.

Tesla stock rose 2.5% to 282.94 on Tuesday, although it hit resistance at the 50-day line. TSLA stock has 314.74 buying points from a short base within a long and deep consolidation.

Read The Big Picture Every day to keep up with the trend of the market, stocks and leading sectors.

Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.

You may also like:

Best growth stocks to buy and watch

IBD Digital: Unlock IBD Premium Stock Listings, Tools & Analytics Today

200-day average: the last support line?

Time to Market with IBD’s ETF Market Strategy

S&P 500 breaks bear market lows

Leave a Comment