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Markets and Indices
After a rocky couple of days on the American stock market, we got a day of mostly horizontal trading yesterday.
- The S&P 500 dropped 0.71 points (0.025 percent).
- The Nasdaq Composite dropped 2.79 points (0.036 percent).
- The Dow Jones Industrial Average dropped 91.74 points (0.36 percent).
- The scare of more rate hikes is becoming a real issue on Wall Street where experts claim that the Fed has already started to beat inflation. Bankers are agreeing that another rate hike could send the American stock market into an unstoppable free fall.
- In addition to posting an incredible Q3 report, Netflix keeps shocking the industry. The streaming service is currently on track to add 27.4 million new subscribers this year which is close to as many as HBO has added in the past 40 years.
- One of the fastest growing vegetarian meat companies, Beyond Meat, is in contact with investment banks to initiate an IPO.
EUR/USD is indicating that its bearish trend will continue after yesterday’s FOMC meeting, and the number of short traders is increasing.
- US oil dropped on Wednesday and is currently trading below $70.
- Chinese import of soybeans has experienced the biggest drop in 12 years amid increasing trade war tensions.
The cryptocurrency market has remained stable since yesterday and the top assets are mostly trading horizontally.
- Bitcoin is down 0.37 percent since yesterday morning.
- Ethereum is down 0.97 percent since yesterday.
- XRP is up 0.27 percent since yesterday.
A recent report from CME shows that Bitcoin futures trading increased by as much as 41 percent in Q3 compared to Q2.
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