Big test for Apple–and much of the rest of tech sector–tomorrow when company reports earnings

Apple (AAPL) is set to report earnings for the quarter that ended on September 30 (fiscal fourth quarter earnings for Apple) tomorrow after the market’s close. The stakes are higher than usual. Wall Street is forecasting that iPhone sales will be just 45 million units for the quarter–which would produce the third consecutive quarterly decline in iPhones sale and the first ever year over year drop in sales volumes

European Central Bank doesn’t give financial market assurance it wanted

Financial markets were hoping to hear something from the European Central Bank and its president Marie Draghi after today’s policy meeting about extending the bank’s current 80 billion euros ($88 billion) a month program of asset buying behind its current March 2017 expiration. Instead all financial markets heard was Draghi promise that the bank wouldn’t put an abrupt end to asset purchases in March