MARKET REPORT 18/05/2018 by IMBI (Stocks, Cryptos, and Steph Curry)

imbi (51)in #trading • 6 years ago (edited)

Please note that due to market volatility, some of the scenarios may have already been played out and the information below is not an investment advice.

‘Trade war’ turns to ‘trade talks’: The long standing power struggle between the USA and China has gradually turned a softer note, as both parties have engaged in negotiations over China’s massive trade surplus. Trump quoted saying “China has ripped off the US with it’s trade tactics”. On the other front, a top economic advisor, told American lawmakers that they will work to address the countries' trade imbalance as well as other related subjects.

The Trump of Wall Street: The three major US indices closed the day on a lower note, caused by a pessimistic message from President Trump, stating that the China trade talks will not succeed. The DJ30 shed 54 points down to 24,713, the NSDQ dropped 0.2% and the SPX500 slipped 0.1%. Since this morning, however, the indices are showing strong signs of recovery, erasing yesterday’s losses.

Pressure on crypto: Crypto traders around the world are glued to the screens as Bitcoin keeps testing the crucial support level of $8,000. A break might signal the return of the mid-term bear market, while a bounce back will cause a worldwide exhale and a possible bull-run for altcoins such as Litecoin, Dash and Bitcoin Cash.

Oil stable at $71.5: Despite supply cuts from OPEC and the looming pressure from the failed Iran deal, Crude Oil remained steady at around $71 a barrel. For now.

Gold loses shine: Since breaking below the $1,300 mark, the precious metal keeps losing ground against the strengthening USDOLLAR.

Can Steph Curry save Under Armour? Since adding the Curry 5 sneaker to its lineup, UA stock has shot up 9% (despite yesterday’s correction of 2.5%). Since Jan 2018, the stock is up by over 40%. That might sound impressive, but UA has another 600% to go before returning to last year’s highs.

USDJPY at four-month high: The Dollar edged higher yesterday against the Yen by about 0.4% thanks to a rise in US treasury yields.

Stocks earnings releases on 18/05/2018