BM Market Report 26/10 – 2018: Stock Market Recovers While Crypto Market Stagnates

BM Market Report 26/10 – 2018: Stock Market Recovers While Crypto Market Stagnates

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Markets and Indices

After days of massive sell-offs, the major American indices recovered during Thursday trading. However, we are not out of the danger zone yet and futures are indicating that we can expect more sell-offs during Friday. The Dow Jones could drop as much as 300 points during this week’s last trading session.

  • The S&P 500 climbed 49.47 points (1.86 percent).
  • The Nasdaq Composite climbed 209.94 points (2.97 percent).
  • The Dow Jones Industrial Average climbed 401.13 points (1.63 percent).

Stocks

  • Expedia stock soared by 8 percent after the company beat earnings per share predictions in the third quarter.
  • Amazon’s AWS grew by 46 percent in the third quarter, although the company missed on overall revenue and the Amazon stock slipped.
  • Airbnb has hired former Google employee as tech chief ahead of 2019 IPO, but they are still looking for a CFO to guide them through the process.

Forex

The EUR/USD downward trend remains dominant after the ECB announce that they are not hiking the interest rates.

Commodities

Gold has failed to capitalize on the recent market meltdown which most likely indicates that investors still have confidence in the stock market.

Cryptocurrencies

To everyone’s surprise, the cryptocurrency market is still stable despite the sell-offs on the stock market. In fact, Thursday was another day of vertical trading for most major digital currencies and experts are desperately trying to calculate the market’s next move.

  • Bitcoin down a mere 0.35 percent since yesterday.
  • Ethereum is up 0.04 percent in the past 24 hours.
  • XRP is up 0.19 percent since yesterday.

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