Investor’s sentiment boosted

Daily Analysis - 17/05/2019

Dow up more than 200 points


On Thursday U.S stocks advanced as investor's view supported by solid earnings from Cisco Systems and Walmart. Banks also rose on higher rates.

The S&P 500 advanced almost 1% to end the day at 2,876.30. The popular Nasdaq Composite improved 1% to 7,898.03. The major indexes are going up for 3 days now.

The Dow Jones Industrial Average finished the trading session more than 200 points higher at 25,862.67, driven by Cisco and Walmart.

Walmart shares surged more than 1.3% following the company's first-quarter earnings for fiscal 2020 that beat expert’s expectations. Walmart stated it is in a “good position” to meet its goals for this year notwithstanding the difficult comparisons for the second quarter.

Bitcoin falls 10% in the last 24 hours

The most popular crypto coin Bitcoin plunged an about 10.1%. That happened after only a day the world’s largest cryptocurrency exchanged at levels over $8,000. Bitcoin fell at $7,215.76 apiece, according to data from Coindesk. Similar declines detected in other important cryptocurrencies in the last 24 hours. The price XRP fell more than 15% while Ethereum dropped almost 8% to $241.32.


Optimism is driving gold lower

On Friday the popular yellow metal Gold continued to drop matching its biggest single-day percentage decline 30 days in the last trading session on a stronger greenback, corporate results and as a solid U.S. data, increased investor desire for riskier assets. U.S. gold futures went 0.1% below at $1,285.09 an ounce while Spot gold fell 0.1% at $1,285.18 per ounce.


Oil higher due to Middle East tensions

On Friday Oil went higher once more and were on course for the first weekly profits this month, while increasing pressures in the Middle East sparked concerns of supply interruptions. Brent was up more than 3% for the week while Brent crude futures went up 38 cents, at $73.00 a barrel or half percent, from their last end, rising for a fourth straight session.


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