Tech leads Wall Street recovery
Following several days of losses, Wall Street was finally all in the green yesterday, as the DJ30, SPX500 and NSDQ100 all registered noticeable gains. After weighing heavily on the market over the past few days, tech stocks showed signs of recovery, led by Amazon, which closed more than 5% higher. Other tech stocks, such as Apple, Facebook, Google and Microsoft also registered significant gains.
Today’s highlights: Cryptocurrencies back in bear market territory
- Cryptocurrencies continue to spiral: The bearish trend seen in crypto markets recently persisted over the past 24 hours, as 8 of the top 10 cryptocurrencies were in the red. At the time of writing, Bitcoin was down more than 6%, trading below $3,800. Of the top 5 cryptos, it was Bitcoin Cash that went against the grain, showing gains of more than 1%.
- USD and NZD face volatility today: The monthly CB Consumer Confidence report will be released in the US at 15:00 GMT, potentially impacting the greenback. Later, at 20:00 GMT, the Reserve Bank of New Zealand will release its bi-annual Financial Stability report, followed by a press conference with Governor Adrian Orr at 22:00 GMT. Both events could generate volatility for the Kiwi Dollar.
Earnings season coming to a close: The last round of earnings report will be released over the next few weeks towards the end of the year. 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.