International News and Market Update: Apple revenue climbs 11% to $123.9 billion, and more

 International News and Market Update: Apple revenue climbs 11% to $123.9 billion, and more

International News and Market Update.

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European stocks closed higher after choppy trading Thursday as global markets reacted to the latest Federal Reserve decision. The pan-European Stoxx 600 closed up 0.7%, recouping earlier losses after better-than-expected U.S. GDP data. Utilities were the top performers, up 2%, while travel stocks fell 1.6%. At the top of the Stoxx 600, Deutsche Bank climbed 4.4% after it reported a profit for the fourth quarter of 2021, against market expectations, as the investment bank’s earnings rose.

U.S. equity markets were in volatile trading Thursday as investors pondered a Federal Reserve update, the latest GDP report and corporate earnings. The Federal Open Market Committee gave a strong hint this week that the first rate hike since late 2018 could come as early as March. Gross domestic product rose 6.9% in the fourth quarter from a year earlier, the Commerce Department reported Thursday. Economists surveyed by Dow Jones expected the economy to grow 5.5% on an annualized basis in the final three months of 2021.

Asia-Pacific markets traded mostly higher Friday after Wall Street was volatile overnight as investors reacted to comments from the Federal Reserve and U.S. GDP data. Shares of Apple suppliers in Asia mostly rose after the tech giant beat earnings estimates in the U.S. on Thursday. Australia’s ASX 200 rose 1.57%. Hong Kong will release its fourth-quarter GDP report later in the day.

Apple revenue climbs 11% to $123.9 billion

Apple CEO Tim Cook said Thursday that the company’s supply chain challenges are improving, sending shares up about 5% in extended trading while posting a solid profit increase. Apple beat analysts’ estimates for sales in every product category except iPad, and total revenue rose 11% year over year. Apple launched new iPhone models in September, and this quarter was the first full quarter of iPhone 13 sales, giving investors a taste of how competitive the devices are in the market. Revenue grew 9% year over year to $71.63 billion, although it is growing more slowly than Apple’s overall business. Services, which include iCloud, Apple Music, search licenses, and App Store fees, continued to grow strongly, increasing 25% annually to $19.52 billion.

McDonald’s profit hurt by rising costs and pandemic restrictions

McDonald’s Corp missed revenue and profit expectations Thursday as higher costs and tepid sales at its more than 4,500 restaurants in Australia and China due to pandemic-related restrictions ate into fourth-quarter growth gains in the United States. Operating costs rose 14% to $3.61 billion as supply chain bottlenecks meant the world’s largest burger chain had to spend more on ingredients such as chicken and beef, as well as packaging materials. Per share, McDonald’s earned $2.23, missing analysts’ average estimate of $2.34. Global sales rose 12.3%, compared with Wall Street estimates of a 10.73% increase.

Mandy Nunes

https://gvmarkets.com/

Mandy Nunes is the Chief Marketing Officer for GV Markets. With 15 years of experience in the Financial Services Industry within the South African market, she has held various responsibilities within the business development, marketing, operations and regulatory space – leading to a very fitting position within the Trading and Investment environment. Mandy has notably been the editor of 'The Ordinary Millionaire', along with having written numerous pieces within the industry at large. Holding both legal and wealth management qualifications, her goal is to bring about massive success for, and within, GV Markets. GV Markets is a South African forex and CFD broker that offers comprehensive trading solutions to both retail and professional traders. GV Markets prides itself in being a well-regulated and reputable STP brokerage that works according to a No-Dealing Desk trading model, offering traders access to some of the best liquidity providers in the country.

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