U.S. markets have rallied after a disappointing week for investors. But what is Apple doing?
The Dow Jones is up around 548 points, marking a big comeback from its recent 2022 lows.
Overall, it was a broad-based rally, with Apple as an outlier.
The tech giant’s stocks were down about 1.3 per cent after reports the company is ditching plans to increase new iPhone production, as demand falls short of expectations.
The broad-based rally follows the Bank of England announcing it would buy bonds, to stabilise financial markets, a huge reversal in policy implemented by most institutions this year to tackle soaring inflation.
The move caused the pound to become more stable, after it had tumbled to a record low against the U-S dollar earlier in the week.
U-S yields retreated from their highest level in more than a decade – easing concerns that rates were growing too quickly and could damage the economy.
But what does this all mean for the future? It’s hard to say, but this move by the Bank of England could signal a change in policy for central banks around the world.
