A rebound in Apple shares helped lift US markets yesterday despite continued trepidation over a quickening cycle of rate hikes. Today US markets look set to open lower after falling Chinese inflation with President Obama upping the ante against terror group ISIS in Iraq on the 13th anniversary of the attack on the US twin towers. Futures suggest the Dow Jones will open 62 points lower at 17,006 with the S&P500 expected to open 6 points lower at 1,989 and the Nasdaq 12 points lower at 4,082. President Obama in a speech yesterday came as close as he could do to announcing plans for US boots on the ground with an expansion of US involvement in Syria and Iraq to combat ISIS. Obama’s speech confirmed investor’s fears that problems in Iraq and Syria will be a prolonged geopolitical issue for markets. Copper prices plummeted after Chinese consumer price inflation dropped to 2.0% year-over-year against expectations of a smaller drop from 2.3% to 2.2%. The slowing inflation, like in Europe can partially be explained by energy prices but also clearly reflects slowing demand and a property market slowdown. Stocks in China and Hong Kong were higher on hopes of government stimulus but later rolled over with concerns over ISIS and a more imminent US rate hike continuing to rattle global markets. Apple, as typically happens ramped up with excitement before the release of new products only to fall back as reality didn’t live up to expectations. Investors then took the opportunity to buy into the broader story of strong earnings growth on the dip. Apple’s stock is stuttering at the new psychological $100 level after the stock split but seems likely it will overcome it should broader markets hold up and the Apple Watch provide a new source of income to make up for faltering growth in phones and tablets. CMC Markets is an execution only provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.