NEWS

BY ETORO

MAR

Market Analysis 01/06/2018

Today’s highlights: Trump’s tariffs weigh on market

Wall Street falls on Trump’s tariffs: US President Trump’s administration yesterday announced that new tariffs on steel and aluminium imports from Canada, Mexico and the EU are coming into effect, raising concerns of a trade war. As a result, the Dow Jones closed more than 1% lower, joined by the S&P 500 and Nasdaq indices. Despite the negative momentum, several stocks reached all-time highs yesterday, including Adobe and Godaddy.

NFP report coming today: The Non-Farm Payroll report, a key indicator of the US market’s overall health, will be released today at 12:30 GMT, alongside other employment data. Later, at 14:00 GMT, the ISM Manufacturing PMI report will be released. The data published could generate volatility for the USD and other key financial instruments in the US.

Asia seen lower: Markets in the East followed Wall Street’s lead, as the Hang 

Seng and China50 indices were both seen lower this morning, while the Nikkeiwas nearly flat.

Lower volatility in crypto market: The crypto market was mixed over the past 24 hours, as 6 of the top 10 cryptos were seen higher at the time of writing. However, most movements were relatively insignificant. At the time of writing, Bitcoin was nearly flat, keeping slightly above the $7,500 mark.

Deutsche Bank at record low: Germany’s biggest bank was reportedly added to a group of ‘troubled’ lenders followed by US regulators, sending its stock tumbling more than 7% to reach a record low.

Europe opens higher: The FTSE opened 8 points higher, the DAX was up 35 points and the CAC opened 18 points higher.

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Daily cryptocurrency Tracker 31.5.18: Bitcoin holds above $7,500

After several days of volatility in the crypto market, including significant price swings in both directions, the crypto market was relatively stagnant over the past 24 hours. Bitcoin kept its price levels from 24 hours ago this morning, showing very little movement and holding above the $7,500 mark at the time of writing.

EOS back to gains for the week

The negative trend seen at the beginning of the week in crypto markets affected most cryptos, as many registered significant losses. However, the uptick seen over the past 48 hours helped some cryptos erase their recent losses and revert to gains. Of the top 5 cryptos, EOS showed the largest weekly gain, up more than 11% for the week at the time of writing.

Chinese President praises blockchain

Xi Jinping, President of the People’s Republic of China spoke yesterday before the Chinese Academy of Sciences and the Chinese Academy of Engineering. Xi talked about several technologies that he thinks will have a high impact on the world. Alongside quantum computing and artificial intelligence, Xi also mentioned blockchain, calling it a ‘breakthrough’ technology. While Chinese authorities cracked down on crypto trading in the country, essentially eliminating Bitcoin exchanges, the country remains a significant hub for the development of blockchain applications.  

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Market Analysis 23/05/2018

Trump’s comments weigh on Wall Street

After a trade agreement between the US and China lifted markets to start the week, President Trump pushed it back down. The US President yesterday told reporters that he is not satisfied with the deal, rekindling trade war concerns, as the Dow Jones, Nasdaq and S&P 500 all closed lower. Additionally, Trump said that the planned summit with North Korea next month might not happen, further contributing to the feeling of uncertainty in the market.

Today’s highlights: Wall Street awaits Fed meeting minutes

• FOMC minutes could shape markets today: Minutes from the latest Federal Open Market Committee meeting are scheduled for release today at 18:00 GMT, giving an indication into the Fed’s planned monetary policy. The release could generate volatility for the USD and other financial instruments.

• Asia seen lower: Following declines on Wall Street, markets in the East also registered losses. Both the Nikkei and Hang Seng were down more than 1% at the time of writing, joined by the China50 index.

• Oil prices dip: The black gold’s prices were on the decline this morning, following reports that oil exporters might decide to ease oil production limitation when OPEC meets next month. The Crude Oil Inventories report, to be released at 14:30 GMT, might also impact prices today.

• Turkish Lira continues to tumble: The USD continued to climb against its Turkish counterpart, jumping an additional 2.37% this morning, further contributing to the currency pair’s all time high.

• Bitcoin drops below $8,000: The negative momentum in crypto markets continued, as all top 10 cryptos registered losses over the past 24 hours. At the time of writing, Bitcoin was down more than 4.5% trading below the $8,000 mark.

• Europe opens lower: The FTSE opened 39 points lower, the DAX was down 43 points and the CAC opened 22 points lower.
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Market Analysis 04/05/2018

NFP report to shape markets today

The monthly Non-Farm Payroll report, considered one of the key indicators of the US economy’s overall health, is due in the US at 12:30 GMT. At the same time, the Average Hourly Earnings and Unemployment Rate reports will also be released. The reports could potentially impact the USD and other leading financial instruments in the US.

• Today’s highlights: Bitcoin passes key milestone
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• Bitcoin above $9,500: Crypto markets were mixed over the past 24 hours, as 5 of the top 10 cryptos registered gains. At the time of writing Bitcoin was up 4%, trading above $9,600, and Ethereum was up by more than 8%.

• Wall Street closes mostly lower: After registering significant losses earlier in the day, the Dow Jones recovered to close slightly higher. The S&P 500 and Nasdaq also dipped considerably earlier in the session, but cut some of their losses before the end of the session to close around 0.2% lower.

• Asia mostly lower: As the trade talks between the US and China continue in Beijing, markets in the East were sluggish. The Nikkei, China50 and Hang Sengindices were all seen lower this morning. Banks in Japan are closed today in observance of a national holiday.

• Buffett continues to show faith in Apple: One of the world’s most famous investors, Warren Buffett, has revealed that he purchased an additional 75 million Apple shares during this year’s first quarter through his investment firm Berkshire Hathaway. This purchase brings Buffett’s total investment in the tech giant to more than 240 million shares. Berkshire Hathaway will be reporting its earnings tomorrow and Buffett will be speaking with investors at the company’s annual shareholders meeting.

• Tesla tumbles 5.5%: The electric carmaker registered significant losses yesterday, following a disappointing earnings report and remarks by CEO and founder Elon Musk at the company’s earnings call, disrespecting some analysts’ questions.

• Europe opens higher: The FTSE opened 26 points higher, the DAX was up 58 points and the CAC opened 29 points higher.

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Market Analysis 27/04/2018

Impressive earnings lift markets

Facebook and AMD, who reported strong earnings after the markets closed on Wednesday, continued to climb yesterday, closing 9.1% and 13.7% higher respectively. Amazon rose nearly 4% ahead of its earnings report, which was released after the market closed. Amazon’s report smashed expectations, causing the stock to rise an additional 6.7% after hours. Both Microsoft and Intel displayed a similar pattern, rising both during market hours and following their earnings releases after hours.

Today’s highlights: Crypto markets recover

• Crypto market bounces back: After experiencing a correction, cryptocurrencies recovered over the past 24 hours, as all top 10 cryptos registered gains. The only top 10 cryptocurrency to record double-digit gains was Stellar, which was up 14% at the time of writing, positioning it as the 7th largest crypto by market cap.

• Wall Street lifted by earnings: The Dow Jones, S&P 500 and Nasdaq all closed higher as a result of positive earnings reports. Several companies reached all-time highs, including Visa and Domino’s Pizza.

• Asian markets mostly higher: As the Presidents of North and South Korea meet for an Historic summit, markets in the East were mostly higher. Both the Nikkei and Hang Seng indices registered gains, while the China50 index was seen lower.

• Volatility expected in US markets: The quarterly Advance GDP report is due in the US at 12:30 GMT, potentially impacting the USD and other major financial assets.

• BoE Governor Carney to speak today: Bank of England Governor Mark Carney will be speaking at launch of the BoE’s econoME education program at 14:00 GMT. Carney might address the Prelim GDP report, released earlier today, and could generate volatility for the GBP.

• Europe opens higher: The FTSE opened 5 points higher, the DAX was up 57 points and the CAC opened 12 points higher.

• Earnings season continues: To see an overview of upcoming earnings reports, check out the MarketUpdates page.

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Market Analysis 20/04/2018

Crypto market on the rise

An overall positive trend was seen in the cryptocurrency market, as all top 10 cryptos registered gains over the past 24 hours. Bitcoin continued to climb above the $8,000 mark, trading over $8,200 at the time of writing. Of the top 10 cryptos, XRP by Ripple Labs registered the largest gains, rising more than 15%.

Today’s highlights: Tech sector drags global markets down

• Wall Street closes lower: After Taiwanese chipmaker TSMC, a key partner of several American tech companies, revealed its revenue prediction is some $1 billion lower than expected, the entire tech market took a hit. Nvidia dipped 3% and Intel and AMD fell more than 2.4% each. Apple also registered losses, dropping more than 2.8%, and Qualcomm closed more than 4.8% lower. Wall Street felt the impact of the sector’s decline, as the Dow Jones, Nasdaq and S&P 500 all closed lower.

• Several stocks reach all-time highs: Despite the overall negative trend, a number of Wall Street stocks reached new heights yesterday. American Expressclimbed more than 7.5% to reach a new record, joined by GoDaddy and Domino’s Pizza, which also closed at an all-time high.

• Asian markets mostly lower: Leading indices in the East, such as the China50 and HKG50, registered declines this morning. In contrast, the Nikkei was trading slightly higher at the time of writing.

• Philip Morris tumbles 15%: After the international tobacco corporation reported declining sales of both cigarettes and cigarette alternatives, its stock took the worst hit in a decade, closing more than 15.5% lower.

• Volatility expected for CAD: Consumer Price Index and Core Retail Sales reports are due in Canada at 12:30 GMT, potentially impacting the Canadian Dollar.

• Europe opens mixed: While the CAC and FTSE opened 1 and 19 points higher, the DAX opened 7 points lower

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Market Analysis 04/04/2018

Wall Street seesaw continues

Following losses suffered on Monday, markets in the US recovered yesterday, as the Dow Jones, Nasdaq and S&P 500 all closed higher. Tech stocks, such as Amazon, Netflix, Google, Apple and Facebook, cut some of their losses from the previous session, showing gains. However, concerns of a US-China trade war continue, as yesterday President Trump revealed a plan of imposing a new 25% tariffs on various Chinese imports.

Today’s highlights: Global markets seen mixed

• Positive trend in crypto market continues: 8 of the top 10 cryptos registered modest gains over the past 24 hours, continuing yesterday’s positive momentum. Litecoin led the way, up by more than 5% at the time of writing.
• Asian markets mixed: Several markets in the East were seen lower this morning. However, the Nikkei and China50 indices were both trading higher.
• Volatility expected for USD: The ADP NFP report is due in the US at 12:15 GMT, serving as an indicator to the official NFP report, to be released on Friday. Later, at 14:00 GMT, the ISM Non-Manufacturing Index report will be published. Both reports could generate volatility for the USD.
• Oil shows slight losses: The black gold slipped this morning, as the Crude Oil Inventories report, scheduled for release at 14:30 GMT, is expected to show an increase in US stockpiles.
• Auto industry shows impressive gains: Following reports that Tesla’s Model 3 is the best-selling electric car in the US over the first quarter of 2018, Teslastocks jumped nearly 6%. Other carmakers were also showing gains, including Fiat-Chrysler, GM and Ford.
• Europe opens mixed: While the FTSE opened 13 points lower, the DAX opened 14 points higher and the CAC was up 1 point.

Spotify public listing declared a success

The SPOT stock began trading on the market yesterday, as the Swedish music streaming giant went public via direct listing. Initially climbing as much as 28%, the stock eventually closed 13% higher. The SPOT stock is now available for trading and investing on the eToro platform.

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Market Analysis 29/03/2018

Today’s highlights: Wall Street still burdened by tech losses

• Tech stocks continue to weigh on Wall Street: The Nasdaq, Dow Jones and S&P 500 all finished lower yesterday. Tech stocks continued to set the tone. Following a report that President Trump will be “going after” Amazon’s taxes, the company’s stock closed 4.38% lower. In addition, Goldman Sachslowered its price target an iPhone sales prediction for Apple, resulting in a 1.1% decline. Netflix also continued to tumble, losing 4.96%.

• Asia seen mixed: Despite the losses on Wall Street, some indices in the East were seen higher this morning, such as the China50 index. In contrast, at the time of writing, the Nikkei was seen slightly lower.

• Cryptocurrencies remain bearish: All top 10 cryptos registered losses over the past 24 hours. At the time of writing, Bitcoin Cash was more than 8% lower and Litecoin lost more than 6%. Bitcoin remained below the $8,000 mark, trading around $7,600.

• Volatility expected for CAD: The monthly GDP report will be released in Canada at 12:30 GMT, potentially impacting the Canadian Dollar.

• Oil climbs on OPEC plans: Sources at OPEC told Reuters that the organization is planning to continue its production freeze throughout 2018 and perhaps into 2019, causing prices to rise.

• Lower liquidity expected for AUD and NZD: In observance of Good Friday, banks in Australia and New Zealand will be closed, resulting in lower liquidity for their respective currencies.

• Europe opens mixed: While the FTSE opened 12 points lower, the DAX and CAC opened 24 and 15 points higher respectively.