Fed rate decision coming today
US markets could be impacted by the Federal Open Market Committee’s rate decision, to be released today at 18:00 GMT, followed by a press conference with Fed Chair Jerome Powell. While the Fed is expected to leave rates unchanged, the decision and Powell’s words could generate volatility in markets. Earlier, at 14:00 GMT, the ISM Manufacturing PMI report will be released, also potentially impacting markets.
Today’s highlights: Cryptos show recovery
- Bitcoin Cash leaps 13%: All top 10 cryptocurrencies registered gains over the past 24 hours, including Bitcoin, which was up more than 3% at the time of writing, inching back towards the $5,400 mark. Leading the top 10 was Bitcoin Cash, which rose more than 13%. However, the recent gains were not sufficient to erase the heavy losses suffered over the past 7 days, as the majority of cryptos are still in the red for the week.
- Various markets closed due to Labor Day: Banks in various European and Asian countries will be closed today in observance of Labor Day, resulting in lower liquidity and volatility in several markets.
- Google records worst day since 2012: After reporting worse-than-expected results, Google’s parent company Alphabet posted its worst day in nearly 7 years, dipping around 7.5%. As a result, the NSDQ100 index fell off its all time high and closed lower, while the DJ30 and SPX500 closed higher. Several companies reached fresh all-time highs, including McDonald’s, Starbucks, PepsiCo, Visa and Mastercard.
- US and China resume trade talks: Representatives from the US are visiting Beijing for another round of trade negotiations, with the hopes of reaching an agreement between the two nations to end the ongoing trade war.
- Clean energy milestone: A new report from the Institute for Energy Economics and Financial Analysis (IEEF) shows that April marked the first month in US history in which energy output from renewable sources exceeded coal energy. On eToro, you can invest in the clean energy sector through the RenewableEnergy CopyPortfolio.
- UK opens higher: The UK100 index opened 31 points higher this morning. Other major exchanges in Europe are closed today, due to the Labor Day holiday.
Stocks earnings releases on 01/05/2019
Stocks earnings releases on 02/05/2019
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar. Please note that maximum leverage for CFD stocks will be limited to X5 one day ahead of earnings report releases. X10 leverage will be available again soon after the report is published.
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01/05/2019 appeared first on eToro.