Apple introduces new products and S&P 500 stalls at 2000

By Justin Turner CIM, DMS®, CFP®
Apple's Tim cook introduced multiple long-rumoured products on Tuesday, including two new iPhones, a watch and a mobile payments system.  The news seems to have been priced into Apple stock as it has had little impact on its share price.  Apple has decided to follow in the footsteps of its competitors by releasing a 5.5 inch screen phone and a watch that will function as a platform for storing and displaying photos, maps and health and fitness information. 

This has definitely been one choppy week; markets have been up and down just about every day since the S&P 500 first hit the 2000 mark. Once we get through 2000 we can apparently set our sights on a new target as Morgan Stanley's strategy team came out with a bold call a few days ago predicting that the S&P 500 would hit 3,000 by the end of the decade.  Although it may seem unrealistic at first glance, it would only take a fraction of the returns we have seen over the last few years from now till 2020 to make their prediction a reality.

Markets end August on a strong note and S&P 500 finally breaks through 2000

By Justin Turner CIM, DMS®, CFP®

In a terrific bounce back month, most North American markets rallied to new highs. The TSX rose +1.9%, the S&P 500 gained +3.8% and the Nasdaq had an astounding month rising 4.8% led by Apple.  Of course the big development market wise was multiple record highs for the S&P 500 and its first close above the 2,000 mark. European markets were also positive despite the ongoing unrest in Ukraine, while most of Asia was rather flat.

It seems that Europe is now in the bad news is good news phase for the markets, as it raises hopes for further stimulus from the European Central Bank.  The ECB did not disappoint investor’s this morning when the European Central Bank surprised markets with stimulative measures including cuts in interest rates and the commencement of asset purchases.  This caused the Euro to tumble below the 1.30 mark for the first time in 2013, but sent European stocks significantly higher.