Daily market update 24/5: #3
Wall Street closes mixed
US indices went in different directions yesterday, as investors are awaiting tomorrow’s Fed interest rate decision, which could bring the first rate cut in more than a decade. The tech sector showed overall losses, as Facebook slid 1.91% and Amazon closed 1.57% lower. Disney climbed 1.2% to close at a new all-time high.
Today’s highlights: Trade talks and Fed rate decision impact markets
Tremendous volatility in London markets:
The London Stock Exchange had an extremely volatile session yesterday, with several stocks showing significant price swings. Just Eat rose more than 23%, while the London Stock Exchange itself, which is also a public company, gained more than 14%.
Asian markets seen higher:
The JPN225, China50 and HKG50 indices all registered gains this morning, ahead of the trade talks between the US and China, which will resume this week in Shanghai. The Bank of Japan kept its rate levels unchanged, but said that it “will not hesitate to take additional easing measures”.
Volatility expected for USD:
The CB Consumer Confidence report will be released in the US at 14:00 GMT, potentially generating volatility for the greenback.
Oil continues to climb:
Ahead of the highly anticipated Fed rate decision tomorrow, oil prices climbed yesterday and this morning, as the expected rate cut could support demand for the black gold.
Beyond Meat falls after hours:
The vegan food giant published mixed earnings yesterday and also announced a secondary offering of 3.25 million shares. As a result, the BYND stock tumbled 13% in after-hours trading.
Capital One reports major hack:
Financial services company Capital One yesterday revealed that the information of about 106 million individuals in the US and Canada was stolen by a hacker. According to company, the hacker has since been arrested, and while able to access personal information such as names and addresses, did not reach any sensitive materials, such as credit card numbers.
Cryptos record losses:
The overall negative trend continued in crypto markets, as the majority of cryptocurrencies were seen lower over the past 24 hours. At the time of writing, Bitcoin was down nearly 2%, trading around the $9,400 mark.