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Wall Street indices drop after Fed rate cut
2974.56 4.2 (0.14%)
Today’s highlights: Global markets decline on Fed rate decision
- Bitcoin climbs over $10,000: The cryptocurrency market was mixed over the past 24 hours, as 6 of the top 10 cryptos were seen higher at the time of writing. Bitcoin climbed more than 2%, crossing the $10,000 mark, before falling below it again. Of the top 10 cryptos, the largest gains were registered by Litecoin, which was up more than 4%.
- Bank of England to announce rates today: Following the turmoil caused by the Fed’s rate decision, the Bank of England will also announce rates today at 11:00 GMT, followed by a press conference with Governor Mark Carney at 11:30 GMT. The decision and Carney’s words could impact UK markets and the GBP.
- Asian markets seen lower: Markets in the East followed Wall Street’s lead this morning. At the time of writing, the China50 index lost more than 1%, dragged down by weaker-than-expected manufacturing data out of China. The JPN225 and HKG50 were also seen lower.
- Volatility expected for USD: The ISM Manufacturing PMI report will be released in the US at 14:00 GMT, potentially impacting the greenback.
- Oil reverts to losses: The black gold was impacted by the Fed’s rate cut yesterday, registering declines despite a larger-than-expected drop in US oil stockpiles.
- Gold prices decline: After the Fed hinted that there might not be additional rate cuts this year, Gold prices slipped yesterday, falling more than 1%.
- Europe opens lower: The UK100 opened 6 points lower, the GER30 was down 43 points and the FRA40 opened 13 points lower. Banks in Switzerland are closed today due to a national holiday, a fact which may lead to lower liquidity and volatility for the CHF.
94.22 -3.84 (-3.92%)
1.2118 -0.0038 (-0.31%)
Stocks earnings releases on 01/08/2019
PBRPetroleo Brasileiro SA Petrobras
Stocks earnings releases on 02/08/2019
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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