Global stock markets remain bearish: The tensions between US and China caused another escalation in what is called the The Trade Wars. Both countries threaten to impose rules that will curb growth. The Nasdaq closed the trading day down 0.88%, Dow Jones 30 lowered by another 0.8%, and the S&P 500 shed ‘just’ 0.63%.
OPEC outmuscles Iran: Oil shot up by almost 1% as OPEC and its allies have reached parliamentary agreement, despite Iran - one the world's largest oil producers, strongly opposing. The meetings will continue today, so possible price volatility is expected.
Crypto tensiones build up: The crypto market became famous for its daily double digit volatility. Lately, however, the markets have entered what looks like a accumulation stage, where large volumes are noted, but prices remain relatively stable. Bitcoin is down 0.66%, Ethereum remained over $500 - down 1.5%, and XRP is down 0.77%.
EU markets shaken: European markets continue to slip. The FTSE closed at a 0.89% loss, the DAX crashed by another 1.62%, and the CAC closed down 1.16%.
Shoppers worried: The US supreme court ruled that states can enforce taxes on online shopping. The news caused eBay’s stock to crash by 3.52% and Etsy to shed 1.58%.
A rare green is a sea of red: Investors in Kroger Co. rejoiced yesterday as the company released a very positive earning report, helping the stock lift-off by 9.7%.
Stockholm and Helsinki exchanges will be closed today due to Midsummer Day.
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.
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