Daily Analysis - 07/11/2019
On Wednesday the Department of Justice indicted two former employees of Twitter for spying on users from Saudi Arabia.
The charges claim that Ahmad Abouammo and Ali Alzabarah enter their company credentials to obtain data regarding particular Twitter users. The data included birth dates, email addresses, phone numbers, and more. According to the Justice Department, another person named Ahmed Almutairi also charged for serving as a link, connecting the two Twitter workers and the Saudi administration. David Anderson the U.S. Attorney stated, “We will not allow U.S. companies or U.S. technology to become tools of foreign repression in violation of U.S. law.
On Thursday the safe-haven metal Gold traded in a limited range while traders retained a careful attitude due to indications of a suspension in the U.S. and China long-anticipated interim trade agreement. U.S. gold futures remained in range at $1,492.8 per ounce while Spot gold was trading at $1,491.26 per ounce.
U.S. Stocks session yesterday was somewhat calm while fighting to maintain the recent positive momentum that pushed the market to record tops. All these while traders got depressed regarding the U.S.-China trade talks. The Nasdaq Composite fell nearly 0.3% while significant technology companies including Microsoft, Amazon, Facebook, and Apple all remained flat to negative. The Dow Jones Industrial Average remained dull, falling just 7 points to 27,492.55. The S&P 500 was also flat closing at 3076.76.
On Thursday the greenback went below versus the yen as growing uncertainties regarding when the United States and China will approve an introductory trade arrangement confused traders from participating in the markets. GBP exchanged near a 7-day low before a Bank of England conference later today. No shift in their policy is anticipated, however, investors are focused on how the BoE will react to risks posed by Britain’s complete departure from the European Union.
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