Wall Street closes higher, notching Q1 gains not seen in year
Optimism surrounding trade talks between the US and China brought Wall Street to a positive close on Friday, and the best Q1 results in years: The DJ30 closed Q1 with the largest gains seen since 2013, the NSDQ100 had its best first quarter since 2012 and the SPX500 notched its best start since 1998. Several stocks reached fresh all-time highs, including Starbucks and Procter & Gamble.
Today’s highlights: Is the UK facing another general election?
- May loses another Brexit vote: British PM Theresa May failed to get approval for her Brexit plan for the third time on Friday. Now, the UK must leave the EU until April 12th. Some reports in the UK suggest that May might now call for a general election – the third such election in the past 4 years.
- Cryptocurrencies show low volatility: While the crypto market experienced an uptick on Saturday, the majority of cryptocurrencies showed low volatility over the past 24 hours, as 8 of the top 10 registered price movements lower than 1%. At the time of writing, Bitcoin was up around 0.7%, trading above the $4,100 mark.
- Asian markets mostly higher: The optimism surrounding the trade negotiations between China and the US, coupled with a surprise jumps in factory activity in China, had a positive impact on markets in the East this morning. At the time of writing, the China50 index was up more than 2%, joined by the HKG50, which registered gains of more than 1.6%. In contrast, the JPN225 registered small losses.
- BoC governor to speak today: Bank of Canada Governor Stephen Poloz will deliver a speech at the Nunavut Mining Symposium today at 19:10 GMT, with the text of the speech scheduled for release 15 minutes earlier. Poloz’s words could impact the CAD and other financial instruments in Canada.
- Crypto exchange Bithumb hacked: South Koren crypto exchange Bithumb was hacked over the weekend, with $13 million in EOS stolen, in what is suspected to be an inside job. Such an event serves as a reminder for the importance of cybersecurity, a market sector in which eToro clients could invest in through the CyberSecurity CopyPortfolio.
Stocks earnings releases on 02/04/2019
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
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