BM’s daily business update provides you with a daily dose of headlines from the past 24 hours. Get a quick overview of what has happened and what could happen in the global markets to prepare yourself for the day. Subscribe to our push notifications down in the left corner to receive this and many other updates directly to your device of preference.
Find the best trading platform. You capital is at risk when trading. Be careful.Get notified? Get our daily market report every morning by accepting push notifications or press the push notifications icon in the left corner. Start trading? Find the best CFD broker, Forex broker or Stockbroker. Create free demo account with Markets.com
We are entering the month of October with high expectations. Will any of the major indices set new records? What will happen with the trade war? And will we ever see the cryptocurrency market rally? Let’s start by taking a look at the past week as well as a few important events in the upcoming one.
Markets and Indices
On Friday the three major indices traded more or less horizontal.
- The S&P fell 0,020 points (0.00069 percent).
- The Nasdaq Composite climbed 4.38 points (0.050 percent).
- The Dow Jones Industrial Average climbed 18.38 points (0.070 percent).
- Bank of America Merrill Lynch has implemented strict regulations for penny stock trading due to the high risk of market manipulation. Stocks that sell for less than $5 and has a market capitalization of under $300 million are being blocked on their stock brokerage.
- The NAFTA has officially been demolished after Canada and the United States agreed to replace it. The new deal is called the USMCA – The United States-Mexico-Canada-Agreement.
- EUR/USD fell sharply on Friday as the Italian government announced a negative target for 2019. The announcement resulted in a sell-off on the Italian bonds market.
- GBP/USD is holding fairly stable but postponed Brexit deadlines could risk the GBP extending its losses as we enter a new trading week.
Brent oil rose to the highest levels in four years as US sanctions against Iran are getting closer. Iran is currently the third largest oil producer in the OPEC.
We have seen a mix of red and green this weekend, but as the new week kicks off it seems like most of the major assets are trading in the green with a strong forecast for the week.
- Bitcoin is up 1 percent since Sunday.
- Ethereum is up 0.62 percent and is inching its way towards $250.
- XRP has climbed 1.61 percent since yesterday morning.
The top three biggest gainers since Sunday are Odyssey, Nebulas, and Verge, while the biggest losers are Electroneum, FunFair and Aurora. Electroneum is about to shave off all the gains from last week.
Finally, StellarX, a new zero-fee cryptocurrency exchange based on Stellar, is now fully launched.
Find the best trading platform. You capital is at risk when trading. Be careful.