BM Market Report 29/10 – 2018: IBM Strikes a Deal, Iran is Selling Oil Privately, and Crypto Market Remains Stable

BM Market Report 29/10 – 2018: IBM Strikes a Deal, Iran is Selling Oil Privately, and Crypto Market Remains Stable

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.

Ripple Now Belongs to The Prestigious Top Three List Of Cryptocurrencies After An Incredible Surge
Daily business update #1 – Elon Musk, Apple, Bitcoin and Google in China
Morgan Stanley Says The Worst is Yet To Come

Find the best trading platform. You capital is at risk when trading. Be careful.

Want to get notified? Get our daily market report every morning by accepting push notifications or press the push notifications icon in the left corner. Looking to start trading? Find the best CFD broker, forex broker or stockbroker.

Create free demo account with Markets.com

Markets and Indices

After a hectic week with massive sell-offs, Friday continued in a similar matter and all three major indices fell although not as much as earlier in the week. The forecast for this coming week is uncertain but we can expect Monday’s trading session to set the pace for the rest of the week.

  • The S&P 500 dropped 46.88 points (1.73 percent) during Friday.
  • The Nasdaq Composite dropped 151.12 points (2.06 percent).
  • The Dow Jones Industrial Average dropped 296.24 points (1.19 percent).

Stocks

  • Similar to last week, we have a large number of company reports to keep an eye on this week. For example, tomorrow Facebook, Pfizer, Mastercard, Coca-Cola, L’oreal (France), and General Electrics are publishing Q3 reports. See a full list of this week’s reports here.
  • IBM just finalized its biggest acquisition ever and the third largest in the US tech industry as they’re buying Red Hat for $34 billion. Red Hat is a world-leading distributor of open-source software.
  • A private equity firm based in Bahrain has said they are ready to up their investments in the booming American economy. Investcorp is also looking at investing in China and India with the aim of establishing themselves as a world-leading investor.

Forex

We have an eventful week ahead of us with the United States preparing for next week’s mid-term elections and the UK publishing their annual budget report. That being said, Monday trading has been relatively calm as the Asian markets opened.

Commodities

Iran started selling oil to private companies on Sunday in order to beat the upcoming sanctions from the US. In addition, China and India could be preparing to pick up some of the export.

Cryptocurrencies

The cryptocurrency market has remained stable and fluctuations have been kept at a bare minimum around 1 percent, despite the sell-offs on the international stock markets.

  • Bitcoin is down 0.23 percent since Sunday morning.
  • Ethereum is trading horizontal and is only down 0.03 percent since yesterday.
  • XRP is up 0.54 percent marking the biggest increase among the top 10 assets besides Monero which is up 1.20 percent.

Find the best trading platform. You capital is at risk when trading. Be careful.

COMMENTS

WORDPRESS: 4