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Markets and Indices
Another day with mixed development has passed and we’re still waiting for the American stock market to initiate another rally.
- The S&P 500 fell by 11.90 points (0.43 percent) and has effectively continued its downward trend.
- The Nasdaq Composite rose by 19.60 points (0.26 percent) but is also stuck in a downward trend it seems incapable of breaking out of.
- The Dow Jones Industrial Average dropped 126.93 points (0.50 percent).
Starting today, we have a large number of company reports to keep track off. In fact, several of the world’s largest companies, retailers, restaurant chains, and banks have reports planned for the next four days.
- Cannabis stocks experience the second-worst trading day ever only a few weeks after the worst trading day ever. The ETF named ETFMG Alternative Harvest (MJX) dropped 9.2 percent during Monday mostly thanks to Tilray plummeting 15.6 percent.
- Oculus co-founder is the latest Facebook executive to leave the company. On Monday, Brendan Iribe announced that he will be leaving Facebook, joining the two Instagram co-founders as well as the founder of Whatsapp, who have already left the company this year.
- USD’s latest gains are at risk as the S&P 500 falls and today’s development could give us a possible heads up of where the currency is headed.
- Later today, there are three events and reports that will affect the CAD and potentially create good trading opportunities.
- Oil prices fell after Saudi Arabia promised to play a “responsible role” in the energy industry.
- Brazilian sugar and ethanol producer BioSev has initiated an asset sale to cover their debt, according to inside sources.
The cryptocurrency market remained quite stable with small losses for most assets during Monday. While investors are waiting for the next breakout, the actual forecast is still uncertain for the market.
- Bitcoin has dropped 0.16 percent since yesterday morning.
- Ethereum has dropped 0.51 percent since Monday.
- XRP has dropped 0.97 percent in the past 24 hours.
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