CEO Tim Cook owed a drop in sales of a mix of factors, including a slowdown in China, exchange rates, a popular battery replacement program, and reduced carrier airline subsidies.
The declining iPhone sales led to Apple's first holiday quarterly decline since 2000. And Lucas Maestri, Apple's CFO, told analysts that the company expects some of the factors highlighted by Cook for to continue "impact on iPhone performance" in the current quarter.
2nd Bold decision: The Federal Reserve will announce its first monetary policy decision of the year Wednesday. The central bank is expected to keep the rates stable.
Financial markets fluctuated wildly late last year, among other things. because the Fed raises interest rates too quickly in view of the risks to the economy.
Chairman Jerome Powell holds a press conference at. 1
Another thing to see is that the Fed is willing to slow down or even stop the process of reading some of the bonds it has purchased to reduce long-term rates. Some investors believe that Fed's shrinking balance contributes to market turbulence.
Complementing the bank's work is that the financial reports that expire this week may be delayed due to the recent closure of the US government.
Quarterly GDP is scheduled for Wednesday, and a report on personal income and payouts expires on Thursday. But employees may not have time to finish collecting and analyzing the data to hit those release deadlines.
See CNNMoney's "Markets Now & # 39; at 12:45 pm ET
3. Trade negotiations resumed: Representatives of China and the US administration will hold in Washington on Wednesday to try to mitigate the trade war that began last year.
Hundreds of billions of goods traded between the world's two largest economies have harmed businesses, steered financial markets, and contributed to fears of a global downturn.
US President Donald Trump and Chinese leader Xi Jinping agreed a ceasefire last month and their governments are trying to negotiate a more lasting deal to end hostilities.
The US Department of Justice revealed a number of criminal charges against Huawei earlier this week, including business theft. Huawei, who denies the accusations, has become a strong symbol of the growing rivalry between the United States and China to determine who will become the world's leading technological superpower.
4. Ghosn speaks out: Former autosagent Carlos Ghosn says he was the victim of a plot of Nissan leaders to shed him. In an interview with Japan's Nikkei – his first since he was arrested in Tokyo in November – former president of Nissan and Renault said the charges that were offset against him were the result of "plot and betrayal".
Ghosn has been accused in Japan of the fees that include understating his income in Japanese securities filings with tens of thousands of dollars over an eight year period. He denies the allegations.
The British pound was extremely overnight at the increasing risk that the United Kingdom could leave the EU in less than two months without an agreement to protect vital trade relations.
On Tuesday, the British Parliament asked Prime Minister Theresa May to reopen negotiations on a Brexit divorce agreement with the EU. EU officials reiterated that the agreement – adopted by all 27 EU members and May – was not open to renegotiation.
"A hard Brexit is the default setting unless an agreement or delay is secured before the Brexit day on March 29, 2019" Kallum Pickering, senior economist at Berenberg. "With only 58 days left to the UK due to leave the EU, we are increasing the risk of a no-deal from 20% to 30%," he added.
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Wednesday – Fed rate decision; () McDonald's () Boeing ( Microsoft () Facebook ( ) Tesla ( reporting earnings )
Thursday – Amazon, GE and UPS ( reporting earnings )
Friday – Jobs report, ISM manufacturing index, Consumer sentiment report; Exxon ( and ) Chevron ( reporting earnings )