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Find the best trading platform. You capital is at risk when trading. Be careful.What a week it has been! History was written as the American President and the North Korean leader met for the first time since the Korean peninsula was divided. But how has it affected the market and what is likely to happen in the future? We have also witnessed a massive telecom and entertainment deal go through after a long struggle and a 6-week trial, and that is not the only major news from the telecom industry. The Fed also raised the outlook for the American economy, and several of the most traded stocks on the market are surging so let us get to it.
Donald Trump and Kim Jong-Un met in Singapore on Tuesday, and the excitement from the historical meeting helped boost both the Asian and the American stock markets. As the new relationship progresses, we can expect to see further growth. In the long-term, a peaceful relationship with North Korea could mean great potential for American business when a new export market opens up.
A judge finally ruled in favor of AT&T’s bid to buy Time Warner for a record-breaking $85 billion. Earlier this year the American Justice Department tried to stop the deal stating that the merger would result in unfair market conditions. After a six-week trial, a federal judge decided to settle the lawsuit and gave AT&T the approval to continue without any terms. On June 20, the deal will be finalized, and AT&T will take over all of Time Warner including HBO, CNN, and the Warner Bros.
As the AT&T deal settles, a new massive telecom and entertainment deal is in the works. A while back, the Walt Disney Company put in a bid on parts of 21st Century Fox and up until Wednesday, it seemed like a done deal. However, that bid has now been matched by Comcast in a very controversial decision. Both corporations are really eager to get their hands on Fox, especially after the judge’s call in the AT&T case, and by the looks of it, this could be the initial parts of a larger bidding war.
Last week, Verizon announced that their long-running CEO Lowell McAdam will step down from his role on August 1. Replacing McAdam as CEO of Verizon is Swedish Hans Vestberg who has been in charge of the company’s technology and network unit since spring of 2017.
On Wednesday, the Federal Reserve raised the median projection for the American economy in 2018 from 2.7 percent to 2.8 percent. The outlook for 2019 and 2020 remains the same, but this is still a great sign of what can happen to the United States economy in the coming six months.
A major investigation has come to the conclusion that much of Bitcoin’s incredible growth in 2017 was caused by market manipulation. This would be a game-changing discovery if true and something that will have to be dealt with accordingly. Naturally, the news about market manipulation had a negative effect on the cryptocurrency market and Bitcoin’s downward trend has continued.
The Twitter stock is up after J.P. Morgan raised their prediction for the company. J.P. Morgan increased their prediction for Twitter’s stocks from $39 to $50 stating that new advertisement fees will help increase revenue and awareness. According to the same report, Twitter will start seeing the benefits from their paid advertisement services already during the World Cup that starts today.
Tesla shares have continued to grow this week after last week’s impressive bull run, even after Elon Musk announced that they will have to lay off thousands of workers. After a period of struggles and economic issues, Tesla is fighting to get back on its feet, and the outlook for the company is looking very strong.
The FAANG stocks now represent 50 percent of the Nasdaq 100 market cap, but according to analysts, it’s unlikely that the leaders of the tech-sector will take over much more of the market. According to an Allianz executive, major growth for these tech giants is “very improbable.” And we agree that it’s unlikely to see a billion dollar company grow by any substantial numbers under a short period of time. (FAANG is an abbreviation for Facebook, Amazon, Apple, Netflix, and Google).
Remember to stay up to date with the latest news from the finance world right here on BullMarketz. Make sure to visit us daily to not miss a beat and don’t forget to check out our cryptocurrency news and our weekly segment called Let’s Talk Cryptocurrencies for more information about the world’s digital currencies. Looking for a great CFD broker? Try a the Markets.com Demo Account for free or read our detailed review of eToro or IQ Option
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