Apple stock was up more than 5% on Tuesday as it was announced that the tech giant was planning on increasing the production of iPhones next year.
According to a report from Nikkei, Apple has plans to manufacture close to 100 million iPhones in the first 6 months of 2021, which would see production ramp up by around 30%.
As a result of gains in APPL, both S&P 500 and Dow Jones were up 1.29% and 1.13%, respectively.
The NASDAQ traded up 1.25%.
Putin congratulates Biden, as victory confirmed
Russian leader Vladimir Putin today congratulated President-elect Joe Biden, as the U.S. electoral college officially confirmed the former Vice President’s election victory.
Despite calls of a fraudulent election from the Trump campaign, this was a foregone conclusion, and affirmed by the news that California electors went for Biden, pushing him over the threshold of 270 electoral votes.
In his message to the incoming President Putin stated, “Russian-American cooperation, based on the principles of equality and mutual respect, would meet the interests of both nations and the entire international community”.
Biden will now be sworn in on January 20th.
Post-Brexit deal agreed, with Mexico
After months of negotiations a post-Brexit deal has finally been announced, however it is with Mexico, and not the European Union.
The United Kingdom and Mexico today signed a deal that will maintain trade between the two countries on existing terms.
This is a big coup for the UK, as many had expected less favourable trade terms with existing partners after Britain leaves the European Union’s common trade policy.
Despite this news, the FTSE 100 was down 0.28% on Tuesday.
Quote of the day – “We want to perceive ourselves as winners, but successful traders are always focusing on their losses.”Peter Borish
To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.
Senior Market Analyst