There was plenty of activity overnight for market traders to digest this morning.

News from the US included Apple reporting falling iPhone sales, while Facebook said its quarterly profit grew along with its user base as it continues to grapple with concerns ranging from political ads to cryptocurrency. 

Meanwhile, the US Federal Reserve cut interest rates for the third time this year in a move to ensure the US economy weathers a global trade war without slipping into a recession. 

The Fed also signal that its rate-cut cycle might be at a pause.

Michael Hewson, chief markets analyst with CMC Markets, looks in detail at the developments.