E.U. Markets Mixed
Tesla Shares Higher on Strong Demand
Oil Dips on High OPEC Supplies
Market Recap – This week in a nutshell: Apple Rallies, Bitcoin Splits
Apple Inc. shares jumped more than 6.6 percent on Tuesday following robust earnings and a promising fourth-quarter guidance. Apple has announced that revenue will be in the $49 billion to $52 billion range in the next three months ending September, while the company is also on track to deliver the much anticipated iPhone 8. BTC was at center stage this week after the cryptocurrency’s underlying software code was split, generating a new clone called “Bitcoin Cash”. The new cryptocurrency got off to a lackluster start while BTC wobbled wildly to stabilize today at 2,725.0 as of 7:30 GMT.*
Thu, July 20: In Today’s Markets…
- European Markets Open Mixed Ahead of BoE Meeting
European markets started the day mixed on Thursday morning, as investors look forward to more earnings reports. Adidas and Siemens are among the major companies scheduled to release their latest figures on Thursday. You can find and trade both shares on BDSwiss’ platforms.
The Bank of England’s Monetary Policy Committee is also due to announce its latest interest rate decision later within the day. Governor Mark Carney is seen holding rates at their current record low levels of 0.25% as recent sluggish economic data does not leave room for a rate hike. A dovish approach by the BoE could cause GBP pairs to slip.**
- Tesla Shares Higher on Strong Demand
Shares of Tesla edged higher after the company’s executives talked up the Model 3 promising 25% margins in 2018. A production target of 500K will also be debated by analysts and investors. Tesla has also announced that the Model 3 is on track for production to meet previously announced targets. It should also be noted that demand has been strong since the handover of the first 30 Model 3 cars last week, with an average of over 1,800 net Model 3 reservations per day. TSLA shares closed 2 percent higher on Wednesday while technical indicators point to a strong sell-off trend at market open.***
- Oil Dips on High OPEC Supplies
Oil dipped on Thursday after a major rally that pushed up prices by almost 10 percent these past two weeks lost momentum despite renewed signs of a tightening U.S. market. Brent crude futures, the international benchmark for oil prices, dipped 0.5 percent while U.S. West Texas Intermediate (WTI) slipped 0.5 percent as of 7:30 GMT. High OPEC supplies restricted any previous gains. The high supplies came despite a pledge by the group, to restrict output by 1.8 million bpd between January this year and March 2018.**
*Source: Seeking Alpha
**Source: CNBC
***Source: Investing.com
View all Important economic releases & events this week:
https://www.bdswiss.com/economic-calendar/
