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Markets and Index
Yesterday saw minimal movements on the American markets with the S&P 500 rising 0.19 percent and the Nasdaq Composite rising less than 0.3 percent. The Dow Jones Industrial Average dropped 59 points or 0.23 percent.
- Sonos stocks plummeted almost 8 percent after the company’s first earnings report as a public company on Monday.
- Fintech startup TransferWise is doing exceptionally well. Two years in a row, the company has made profit and revenue has almost doubled.
- Tesla shares rose 8 percent on Monday despite all the controversy surrounding Elon Musk. A couple of bullish reports as well as the fact that Musk has promised that Tesla will be profitable during Q3 is driving the price.
No major American company reports are planned for today but if you like to trade European stocks, Lufthansa is publishing a Sales and Revenue release plus traffic figures.
Forex traders have a couple of reports to keep an eye on today. Firstly, there is the ZEW report from Germany which could influence the EUR and then there are two reports from the UK including the Average Income Index.
Generally speaking, GBP/USD is looking strong for the day and so is EUR/USD. Also, the CHF tumbled yesterday.
The Winklevoss brothers have received a green light from New York regulators regarding a new stablecoin. The Gemini dollar, as it’s called, will compete with Tether and is backed by US dollars held at a New York City bank. The asset is already available for trading.
According to anonymous sources, Citigroup is developing a cryptocurrency instrument that will let customers trade cryptocurrencies without owning the assets. Sources claim that the instrument will be called a Digital Asset Receipt (DAR) but it has not been confirmed.
Other than that, the market has leveled out somewhat after the last couple of day’s intense volatility.
- Bitcoin is up 0.62 percent over the past day, trading at $6,370.
- Ethereum is down 1.94 percent trading at $195
- XRP is down 2.70 percent.
Among the top gainers, we find Waves, Bitcoin Diamond, and ReddCoin with over 20 percent gains each, while the top losers are RChain, Nem, and KuCoin Shares.
Find the best trading platform. You capital is at risk when trading. Be careful.