BM Market Report 30/10 – 2018: Boeing and Amazon is Falling While Walmart Prepares for a Record Season

BM Market Report 30/10 – 2018: Boeing and Amazon is Falling While Walmart Prepares for a Record Season

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Markets and Indices

The American stock market extended its losses yesterday, and the Dow Jones briefly entered into correctional territory.

  • The S&P 500 dropped 17.44 points (0.66 percent).
  • The Nasdaq Composite dropped 116.92 points (1.63 percent).
  • The Dow Jones Industrial Average dropped 245.39 points (0.99 percent) mostly dragged down by Boeing.

Stocks

  • Boeing fell 6.6 percent during Monday trading, marking the worst intraday since February 2016. This happened despite the fact that Boeing opened the day higher.
  • Amazon has dropped 14 percent in two days after having reported disappointing numbers on Thursday. In total, the company shares are down 23 percent in the past month alone.
  • Walmart is preparing for their best holiday season yet and is working on implementing a new checkout system that will speed up the shopping experience for their customers.
  • We are preparing for a day full of major company reports and potentially a lot of trading opportunities.

Forex

According to our Elliott Wave analysis, the EUR/USD’s bear trend that was initiated in September is about to turn and a bull market is up ahead.

Commodities

Brent oil is dipping due to a weakening stock market as well as an increasingly global supply of oil.

Cryptocurrencies

The cryptocurrency market took a hit on Monday and we saw more volatility than in weeks.

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