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Wall Street bounces back
After having its worst day of the year on Monday, US markets yesterday recovered some of the losses, as the DJ30, SPX500 and NSDQ100 all registered gains of 1.2% or more. The tech sector was part of the recovery, as both Apple and Microsoft climbed more than 1.8%, and Facebook and Google recovered more than 1.5%.
Today’s highlights: Stocks volatile on earnings reports
- Cryptos show correction: After registering tremendous gains over the past few days, Bitcoin declined over the past 24 hours, down 2.3% at the time of writing. All other top 10 cryptos also registered losses. Did the recent turmoil in mainstream markets serve as a catalyst to the crypto surge seen earlier this week? Our Twitter following is split on this question.
- Asian markets seen lower: Despite the recovery on Wall Street, markets in the East remained in the red this morning, as the China50, JPN225 and HKG50 indices were all in the red at the time of writing.
- Kiwi Dollar tumbles: The Reserve Bank of New Zealand surprised markets overnight by introducing a 0.5% rate cut. Following the announcement, the NZD tumbled 1% to a 10-month low.
- Disney slumps after hours, while Match soars: Entertainment giant Disney missed expectations with its earnings report yesterday, causing its stock to fall 4% after the bell. Match, maker of Tinder, also released its earnings, showing impressive results, which shot its stock up 18% after hours.
- Oil recovers some losses: After registering significant declines again yesterday, the black gold was seen higher this morning, gaining back some of the previous losses.
- Gold rush: The safe haven asset remains in high demand, as investors turn to the precious metal due to the growing tensions between the US and China. Gold recently hit its highest price levels since April of 2013. [tweet this]
- Shake Shack shakes markets: The multi-billion-dollar burger chain beat all estimates with its earnings report, causing its stock to sizzle, rising 18%, all the way up to a 4-year high. The SHAK stock is up more than 61% so far this year.
- Aurora Cannabis rises higher: The Canadian medical marijuana giant posted strong guidance as part of its earnings report, resulting in its stock climbing more than 10%. On eToro, Aurora is part of the CannabisCare CopyPortfolio, which offers investors exposure to the medical cannabis market.
- Europe opens higher: The UK100 opened 10 points higher, the GER30 was up 50 points and the FRA40 opened 15 points higher.
MTCHMatch Group, Inc
73.93 2.52 (3.53%)
SHAKShake Shack Inc
86.31 12.97 (17.68%)
ACBAurora Cannabis Inc
6.83 0.64 (10.34%)
Stocks earnings releases on 07/08/2019
AIGAmerican International Group Inc
Stocks earnings releases on 08/08/2019
KHCThe Kraft Heinz Company
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.
* Cryptoassets are a highly volatile unregulated investment product. No EU investor protection. Your capital is at risk.
* Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.
* The information above is not investment advice.
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