MARKET ANALYSIS 10/05/2018 by IMBI (Crytpo markets show gains)

imbi (51)in #busy • 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.

Oil prices leap, lifting energy sector and Wall Street: Following Trump’s decision to withdraw from the Iran nuclear deal, oil prices continued to extend their gains, crossing the $71 mark. As a result, the energy sector rallied, with Chevron, Exxon and other energy companies showing gains. The Dow Jones, Nasdaq and S&P 500 all closed higher. Several stocks reached all-time highs yesterday, including NVIDIA, EA, Adobe, GoDaddy, SalesForce, Visa and Mastercard.

Bitcoin Cash leaps 10%: The seesaw in the crypto market continued, as 9 of the top 10 cryptos registered gains over the past 24 hours. At the time of writing, Bitcoin was up more than 3%, trading above the $9,300 mark and Ethereum was up more than 5.5%. Of the top 5 cryptos, Bitcoin Cash showed the most gains, jumping more than 10%.

UK rate decision could impact markets: The Bank of England will be announcing its Official Bank Rate and Monetary Policy Summary at 11:00 GMT, potentially generating volatility for the GBP and other UK assets.

Asia mostly higher: Both the Nikkei and Hang Seng indices were seen higher this morning, while the China50 index registered losses.

Volatility expected for USD: The monthly Consumer Price Index reports will be released at 12:30 GMT, potentially impacting the greenback.

Dropbox to announce earnings: Following its successful IPO in March, the cloud storage giant will be releasing its first-ever earnings report today after markets closed. Ahead of the report, the DBX stock leaped 4% yesterday. Chipmaker NVIDIA will also announce its earnings today.

Europe opens higher: The FTSE opened 17 points higher, the DAX was up 58 points and the CAC opened 16 points higher. Banks in France, Switzerland and Germany will be closed today in observance of Ascension Day.

Stocks earnings releases on 10/05/2018