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Tesla maybe going private and more earnings

Just a brief note today. A most unusual situation around Tesla and its CEO Elon Musk resulted in a sharp jump in the shares on Wall Street. Mr Musk tweeted that he intended to take the company private at $420 per share, significantly above the market price. Amidst much confusion and shares getting halted by Nasdaq, it later turned out the tweet was serious, but that Musk was yet to get the full approval from shareholders.

The jump in Tesla shares in combination with a move higher in the shares of Amazon pushed the S&P 500 towards record highs. In Europe, there is a more modest open afoot with corporate earnings from Novo Nordisk, E.ON, Munich Re, ABN Amro, Glencore and Prudential.

In forex markets, there is little in the way of movement given there are no market-moving economic releases. China’s trade balance fell in the month of July, with a 20.9% rise in imports and 6% fall in exports, a trend US President Donald Trump would likely want to see continue.

The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please note that 79 % of our retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money.

The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Please note that 79 % of our retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing money.

17-7-2019

UK CPI seen steady despite higher wages
It happened again.US President Donald Trump spoiled the expectations of a US – China trade deal yet again, after he said he could impose more tariffs on Chinese goods, claiming that Beijing pledged but didn’t increase purchases of US farm products following th… Read more

16-7-2019

Nasdaq hits record, eyes on US earnings
Both stocks and bonds extend rally in the US, as the earnings season kicks off.Monday was Nasdaq’s turn to hit a record high, as technology stocks led gains in the US session. The S&P500 consolidated near its historical high as well, though energy (-0.93%)… Read more

15-7-2019

US earnings in focus, as China slows
The week started with undecided risk sentiment on mixed Chinese data.Chinese equities began the week on a negative note, after the data showed that China’s GDP grew 1.6% in the second quarter, a touch better than 1.5% penciled in by analysts and up from 1.4% p… Read more

12-7-2019

Dow at record, oil up on Hurricane Barry
The US stocks went to the moon and back as the Federal Reserve (Fed) Governor Jerome Powell strongly hinted that an interest rate cut is imminent at his semiannual testimony before the congress. The global economic slowdown outweighs the good data in the US, a… Read more

11-7-2019

Powell spurs bets of 50bp cut in July
The US dollar gave back gains on a sharp move after the Federal Reserve (Fed) Governor Jerome Powell has been very clear that the global economic slowdown outweighs the encouraging data in the US at his speech before the congress on Wednesday. Powell’s testimo… Read more

10-7-2019

UK won’t suspend Parliament, GBP down
The US dollar consolidates gains as Federal Reserve (Fed) Governor Jerome Powell prepares to deliver his semiannual testimony before the House Financial Community at 10am today and he is expected to keep the possibility of an interest rate cut on the table des… Read more

9-7-2019

Stocks fall ahead of Powell’s testimony
Markets trade on a mixed risk sentiment.The US dollar extended gains against most G10 currencies, as investors scaled down their dovish Federal Reserve (Fed) expectations following a solid US jobs report in June. The US equities edged lower and the futures ext… Read more

8-7-2019

USD jumps on solid jobs data, lira falls
The US dollar rallied and the 10-year yield jumped to 2.0390%, as the solid US jobs report released the dovish pressure on the Federal Reserve (Fed) on Friday. Data showed that the US economy added 224’000 nonfarm jobs in June, well above the 160’000 expected … Read more
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.