BM Market Report 25/09 – 2018: Instagram, Nike, XRP and Zcash

BM Market Report 25/09 – 2018: Instagram, Nike, XRP and Zcash

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.

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Markets and Index

Monday turned out to be a day of mixed developments with gains on some markets and declines on others.

  • The S&P 500 fell 10.30 points or 0.35 percent.
  • The Nasdaq Composite gained 6.29 points or 0.079 percent.
  • The Dow Jones Industrial Average fell 181.45 points or 0.68 percent.

Stocks

  • Instagram’s co-founders Kevin Systrom and Mike Krieger have officially resigned from the company they founded, creating a new set of issues for the parent company Facebook. The two did not give a reason for their resignation but have hinted that they’re planning to start working on a new project.
  • Google just implemented a range of updates on their services that will change the way people use Google, but also the way Google handles its users and their information.
  • The demand for Apple’s new Apple Watch is much higher than expected. Also, the iPhone XS Max is selling at three times the rate of the Apple XS.
  • Nike is publishing a quarterly report later today and this is definitely news you want to keep an eye on.

Forex

There aren’t too many tradeable reports planned for today since most of this week’s action will happen tomorrow.

  • EUR/USD is showing signs that it will continue its four-month downward trend.
  • GBP is holding on to its support level and the USD could help push the GBP/USD even further.

Commodities

  • Oil surged during Monday and is closing in on a four year high.
  • Total announced that they’ve made a major gas found off the coast of the UK.

Cryptocurrencies

The cryptocurrency market seems to have hit a ceiling and have started to shave off the gains from last week’s incredible run.

  • Bitcoin has dropped by 3.26 percent since yesterday.
  • Ethereum has dropped by 8.57 percent since Monday morning.
  • XRP has lost a whopping 18.17 percent and is slowly getting back to pre-surge prices. In fact, the drastic drop makes XRP the biggest loser this past day.

Among the top performers we find Aurora, Steem, and Zcash. Note that Zcash has only gained 1.07 percent in the past 24 hours showing just how much the market has slowed down since this weekend.

The worst performances these past 24 hours came from XRP, MonaCoin, and Siacoin.

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