All you need to know this Thursday, and there’s a lot to know…

 

1. Apple comeback

Amid recent market volatility, investors are storming on Apple Stock.

Its shares are edging higher again in premarket trading after surging by roughly 10% over the last three trading days, adding about $54 billion to its market capitalization.

Wall Street is also excited about strong sales reports for the new iPhone 7 and iPhone 7 Plus. Apple has already sold out of its initial stock of the jet black iPhone 7.

Competitor Samsung (SSNLF) is struggling with a global product recall, which could help iPhone sales.

Aside from Apple, U.S. stock futures are edging higher ahead of the open. Most European markets are trading slightly higher too, while Asian markets ended the day mixed.

 

2. More Brexit help?

The Bank of England is announcing a decision on interest rates on Thursday. The U.K. central bank revived a bond-buying stimulus program and slashed interest rates in August in an effort to offset the turmoil created by the Brexit vote in late June.

Most economists expect the central bank to hold fire, however, after recent data suggested its medicine may already be working.

 

3. Oil prices edge higher but glut concerns intensify

Oil prices edged higher after briefly falling to a two-week low on Thursday, as a planned resumption of oil exports by Libya and Nigeria added to concerns over a global supply glut.

U.S. crude was up 15 cents, or 0.35%, to $43.73 a barrel during morning hours in New York, while Brent tacked on 25 cents, or 0.55%, to $46.10.

Oil prices sank nearly 3% on Wednesday after data showed large weekly builds in U.S. petroleum products.

 

4. Retail data coming

U.S. retail sales data are due at 8:30 a.m. ET from the Census Bureau. Wall Street will be looking to see if Americans ramped up spending in August. A decline in auto sales could hurt the overall result.

 

5. Trump speaking

Presidential candidate Donald Trump is speaking at the Economic Club of New York at 15:15GMT

Wall Street will be monitoring his speech as he's expected to offer more clarity on his economic policy promises.

Oxford Economics says a Trump presidency would cost the U.S. economy $1 trillion over the next five years.

The British research firm found that if fully implemented, Trump's economic, tax and immigration policies would cost four million U.S. jobs, weigh down global growth and U.S. consumer spending, and could spark a trade war.

 

 

 

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