BM Market Report 09/10 – 2018: Google, EUR, Gold, and IBM

BM Market Report 09/10 – 2018: Google, EUR, Gold, and IBM

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Coinmarketcap Dropped Korean Exchanges and Proved Just How Unregulated the Market Is
Spotify’s Aggressive Strategy is Causing Millions of Dollars in Loses
Gemini Hires NYSE Executive as Tech Officer

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Market and Index

Yesterday, we saw mixed results on the American stock market with some indices closing above opening and some closing below. What they all had in common is that they dropped significantly until lunch, before they turned back up again.

  • The S&P 500 closed 1.14 points below opening (0.04 percent),
  • The Nasdaq Composite closed 52.50 points below opening (0.67 percent).
  • The Dow Jones Industrial Average closed 39.73 points over opening (0.15 percent).

Stocks

  • Google is hosting a press conference in NYC later today and is expected to announce a range of new products. Among the new gadgets, we can expect to see the new Pixel 3, Pixel 3 XL, Home Hub and Pixel Slate tablet. As per usual Google is said to have a few surprises up their sleeve.
  • Papa John’s shares surged after news that Trian, a major stakeholder in Wendy’s, are interested in buying the Pizza chain. Papa John’s have been struggling lately and a new investor would be able to save the company.

Forex

Based on recent Elliott Wave patterns it seems like EUR/USD has reached levels indicating that a bull run is just around the corner. In fact, the currency pair is about to initiate the C wave of an upwards A – B – C pattern.

Commodities

  • Iran’s crude exports are falling which is pushing up the price of crude significantly.
  • Gold has been inching higher for the past couple of trading sessions, while some experts claim that we’re about to reach a cap and that short sellers should get prepared.

Cryptocurrencies

On Tuesday, IBM and French-based Carrefour announced a partnership revolving a blockchain network for food tracking, further establishing IBM as one of the leading blockchain companies today.

Most of the market is trading in the green on Tuesday morning and the modest patterns from this weekend have continued.

  • Bitcoin is currently up 1.02 percent since Monday morning trading just above $6,660.
  • Ethereum is up 2.01 percent since Monday trading at $230.
  • XRP is up 0.23 percent marking the smallest weekly development for all top three assets.

Top performers during the past 24 hours are Populous, Maker, and Noah Coin, and at the bottom of the spectrum we find Aurora, Eternal Coin, and TRON. 

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