eToro Daily Update 06/08/2020

Wall Street ends higher as NSDQ100 hits new record

US markets finished another positive session yesterday, including a spike of nearly 1.4% from the DJ30. The SPX500 and NSDQ100 also registered gains, with the latter recording another all-time high. The rally was led by strong gains of 8.8% from Disney, following its positive earnings report the day before. This morning, Wall Street seems to be headed for a muted opening, as futures indicate that leading indices will open flat.

DISWalt Disney

127.84 10.55 (8.99%)

99% buying

Today’s highlights: Airlines show strong gains

Cryptos mostly higher: The cryptocurrency market was in the green over the past 24 hours, as 7 of the top 10 cryptos were seen higher at time of writing. Bitcoin led the way, with gains of around 3%, topping the $11,600 mark.

Gold holds onto all-time high: After crossing the $2,000 milestone for the first time ever earlier this week, gold continued to register gains yesterday and this morning, further adding to its all-time high.

Asian markets seen lower: Markets in the East were in the red this morning, as the HKG50 index tumbled more than 1.5%, and the JPN225 and China50 also registered losses.

Airlines lift off: Following reports that the next US stimulus package could include relief for airlines, several stocks from the sector registered impressive gains, including American Airlines (+9.5%), United Continental (+4.5%), Southwest Airlines (+4.2%), Spirit (+3.94%) and Delta (+3.1%). On eToro, investors can gain exposure to the travel and leisure industry through the TravelKit CopyPortfolio.

Oil reaches 5-month high: The black gold yesterday soared as high as $43.50, a 5-month high, before correcting slightly. This morning, oil prices were relatively steady, holding above the $42 mark.

LivePerson jumps on earnings: The customer support solutions provider yesterday released its quarterly earnings report, showing better-than-expected results. Following the release, the LPSN stock jumped more than 21% to close at an all-time high. For the most recent and significant price movements in markets, check out the Market Movers page on eToro.

Governor Bailey to speak today: After announcing its latest rate decision and monetary policy statement earlier this morning, Bank of England Governor Andrew Bailey will hold a press conference to discuss the announcements. Bailey’s words could generate volatility for the GBP and other key financial instruments in the UK.