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Markets and Indices
Once again, the markets took a U-turn on Tuesday and rallied across most industries. However, we are not out of the clear just yet and will be following the development closer than usual as we enter Wednesday.
- The S&P 500 gained 59.13 points (2.15 percent) before closing.
- The Nasdaq Composite gained 214.75 points (2.89 percent) before the bell, marking the biggest increase of the day.
- The Dow Jones Industrial Average gained 547.87 points (2.17 percent)
- Google’s YouTube was hit by a major outage early Wednesday morning. Users were greeted by a completely blank page on desktops and a 503 error code on mobile devices. According to recent reports, YouTube is functioning again and Google has yet to comment on the issue.
- BlackRock reported weaker-than-expected revenue and shares plummeted by 4 percent.
- IBM also saw less-than-expected revenue during the third quarter which in turn saw the tech company’s shares fall after the bell on Tuesday.
- Netflix shocked most analysts who had been doubting the streaming service ahead of its Tuesday report. Not only did the company perform better than expected but it shattered most of the predictions. The impressive report saw Netflix’s shares rally by 15 percent after the market closed.
There are two major events happening today that we encourage you to keep an eye on. The first is a Brexit summit that will impact both EUR and GBP, and the second one is the Fed’s FOMC meeting which will likely have a positive impact on the USD.
Gold and oil are set to drop after today’s FOMC meeting unless something unexpected happens and the USD drops instead of strengthens.
The market has leveled out a bit since the Monday rally, and today we have mixed developments across the industry.
- Bitcoin is down 0.23 percent since yesterday.
- Ethereum is up 0.62 percent since yesterday.
- XRP has gained an impressive 4.86 percent since yesterday morning.
Bitfinex has updated their system for fiat deposits after last week’s suspension. The Bitfinex team describes the updated system as “improved and increasingly resilient.”
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