3 Things you need to know about today’s Markets:
Amazon Skyrockets
EU Markets Open Higher
McDonald’s plunges
1. Amazon Skyrockets after Launching New Cash Service
Amazon.com, Inc. shares have already surged more than 48% over the past year, according to Stock News. That does not seem to stop the conglomerate from introducing more innovations that keep Amazon ahead of the game however! Yesterday, Amazon.com, Inc. unveiled a new service, dubbed “amazon cash”. The service aims at allowing new customers to shop on their platform by adding money to their Amazon.com balance. To credit their accounts, Amazon customers will now simply present a barcode at any brick-and-mortar retailer. AMZN shares skyrocketed after the news to close at an all time high of 906.83 USD!
2. EU Markets Edge Higher Along Oil Prices
Bourses in Europe started the day on a positive footing after U.S. President Trump renewed promises on his tax reduction plans, according to CNBC. Investors will also be looking closely at U.S.-China relations with both leaders scheduled to meet on Thursday at Mar-a-Lago.
In today’s energy markets oil prices edged higher on indications of a gradual tightening in the market. Indicatively, Brent was last seen trading 0.7 percent higher at $54.52 while Crude added 0.7 percent to last trade at $51.39 as of 6:30 GMT.
In terms of data, the eurozone will be focusing on the final German PMI services figures for March due to be released at 7:55 GMT. It is worth noting that a stronger than expected reading can be taken as a positive signal for the EUR and its crosses according to investing.com.
3. More Management Shifts Cause Further Trouble for McDonald’s
Bad news keeps piling up for McDonald’s Corporation which has started implementing major management shifts according to Alpha markets. Deborah Wahl, the head of U.S. marketing for McDonald’s for the past three years, is to be replaced. Also out at McDonald’s are Lance Richards, head of U.S. menu, and Julia Vander Ploeg, head of U.S. digital. In addition to the worrisome management shifts, McDonald’s could soon be facing a massive EU tax bill, according to Stock News! EU regulators are reportedly close to handing down a massive tax judgement to the company which has allegedly unfairly dodged taxes via its subsidiary in Luxembourg. MCD shares dipped on the news to close 0.25 percent lower at $129.29.
The Week Ahead…
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