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Global markets up | Calamatta Cuschieri

Records for markets, records for Boeing & Apple’s move to meet Chinese regulation

calamatta_cuschieri
Calamatta Cuschieri
10 January 2018, 11:43am
Boeing Co. shares are contributing the lion's share of the blue-chip average's gains.
Boeing Co. shares are contributing the lion's share of the blue-chip average's gains.
U.S. stocks carved out a series of intraday records on Tuesday afternoon, putting the S&P 500 and Nasdaq in position to register a sixth straight gain for 2018. The Dow Jones Industrial Average on Tuesday afternoon was trading in record territory, with shares of Boeing Co. contributing the lion's share of the blue-chip average's gains.

European markets also closed higher for a fifth session in a row, as upbeat German economic data and a major strategic move by French telecom Altice NV cheered investors. The Stoxx Europe 600 gained 0.4% to end at 400.11, notching a fresh 2½ year high and closing above 400 for the first time since mid-2015.

Record deliveries for Boeing

Shares in aerospace giant, Boeing, rallied after the company reported a record number of deliveries in 2017 along with a backlog of orders, suggesting its sales in the coming year could be stronger-than-expected. Boeing delivered 763 planes, one more than its previous high set in 2015. Deliveries and orders for Boeing's single-aisle 737 jet — its most popular plane — continued to grow, as it rolled out its more fuel-efficient MAX models, whose customers include American Airlines and Southwest Airlines.

Boeing's deliveries met the company's guidance of delivering 760-765 commercial airplanes for the year. The company says it also means a sixth straight year where Boeing will deliver more planes than its rival Airbus. The European aerospace company is expected to announce its year-end delivery and order numbers next week. The company’s shares closed up 2.7% at $318.43.

Apple iCloud operated by Chinese firm

Apple's iCloud services in mainland China will be operated by a Chinese company from next month, the tech giant has confirmed. Apple said it had made the move to comply with the country's cloud computing regulations. It has contacted customers based in China, advising them to examine new terms and conditions which include a clause that both Apple and the Chinese firms will have access to all data stored on iCloud.

Apple said the partnership with GCBD would allow it to improve the speed and reliability of its iCloud services products while also complying with newly passed regulations that cloud services be operated by Chinese companies. The Chinese cyber security rules, introduced in July last year, include a requirement for companies to store all data within China.

Disclaimer:

This article was issued by Peter Petrov, Junior Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.

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Calamatta Cuschieri is one of Malta’s largest financial services firms. The company offe...
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