BM Market Report 13/09 – 2018: Hurricane Florence, BoE, and Brent Oil

BM Market Report 13/09 – 2018: Hurricane Florence, BoE, and Brent Oil

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.

Ethereum Passes $900 After More Than Doubling Its Price Over the Past Month
Ripple Now Belongs to The Prestigious Top Three List Of Cryptocurrencies After An Incredible Surge
Did We Celebrate Too Soon? Bitcoin Extends Losses After Falling Below $8,000

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Market and Index

We’ve put another day with minimal movements on the American markets behind us.

  • The S&P 500 literally traded horizontal with gains of 2.31 points or 0.08 percent.
  • The Nasdaq Composite dropped 18.25 points or 0.23 percent.
  • The Dow Jones Industrial Average experienced gains of 27.86 points or 0.11 percent.


As mentioned in yesterday’s report, Apple’s product launch was the biggest stock news of the day. However, as it turns out, Apple’s new products weren’t enough to excite shareholders and the stock dropped 1.24 points during trading hours.

Hurricane Florence is said to hit mainland United States by Friday and thousands of flights have already been canceled, hurting airlines from all over the world. Also, the hurricane could affect the power grid of over 2 million people.

Tim Armstrong, CEO of Verizon’s Oath, is leaving the company at the end of the year.


Both the Bank of England and the European Central Bank are publishing interest rates today and tensions are high.

  • By the looks of it, EUR/USD is most likely to be affected negatively since the ECB is said to be downgrading its economic forecast.
  • In terms of the BoE report, news about the Brexit deal is expected, although it’s unsure of whether it will have a positive or negative impact on the GBP.


The US crude oil inventories were lower than expected which pushed brent oil to over $80 per barrel. Also, possible Iran sanctions are increasing oil worries globally.


Ethereum extended its nose dive dropping to a record low of $170 during early Wednesday before doing a 180 and recovering to $189. And Ethereum isn’t alone – most of the top 50 assets are currently trading in the green.

  • Bitcoin is up 1.71 percent in the past 24 hours.
  • XRP is up 4.42 percent in the same time period.

The top performers this past day are Aurora, Nano, and Decentraland, and the biggest losers are Emercoin, RChain, and BitcoinDark.

Lastly, OKEx founder Star Xu was arrested by Shanghai police after fraud allegations raised by investors. However, Xu was released from police custody on Wednesday and he denies the charges. 

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