Wall Street woes continue
US markets continued to show losses yesterday, as all three leading indices closed lower. October has been a difficult month on Wall Street, as the US-China trade war, rising interest rates and concerns regarding overvalued tech stocks dragged markets down. Yesterday, the DJ30 and SPX500 both lost more than 1%, and the NSDQ100 fell more than 2%, bringing its total October losses to 7%. Several tech stocks registered significant declines, as Amazon fell more than 3%, and Google, Facebook, Apple each lost 2% or more.
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Today’s highlights: Cryptocurrencies seen lower
- Crypto markets continue to show losses: The slow and steady declines in the crypto market continued over the past 24 hours, as 9 of the top 10 cryptos were in the red. At the time of writing, Bitcoin was down 1%, falling below the $6,500 mark. Of the top 10 crypto coins, it was XRP which registered the largest losses, falling more than 3.6%.
- Asian markets show recovery: Markets in the East started the day lower, as China’s GDP report showed worse-than-expected results. After falling more than 1.5%, the JPN225 index recovered slightly, while still remaining lower overall. The HKG50 and China50 indices registered gains and were in the green at the time of writing.
- Volatility expected for CAD: Consumer Price Index and Core Retail Sales data is expected in Canada at 12:30 GMT, potentially generating volatility for the Canadian Dollar.
- PayPal jumps after-hours: After registering losses of more than 3.2% yesterday, PayPal released its earnings report after markets closed. The report showed impressive results, pushing the stock up more than 7.6% after-hours.
- Sears continues to tumble: The retail giant, which recently filed for bankruptcy, continued to spiral yesterday, as its stock registered a massive loss, closing 18% lower.
Stocks earnings releases on 22/10/2018
Earnings season continues: 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.