Skip to content Skip to footer

Dow Jones, S&P 500 record new highs – 8th February

The main indices in the United States, the Dow Jones and S&P 500 hit new highs on Monday as Stimulus optimism grows.

Wall Street rallied on the back of comments from Treasury Secretary Janet Yellen on Sunday, who stated that the U.S. workforce could be back in full swing providing a deal is agreed.

Joe Biden’s $1.9 trillion stimulus package is still yet to be passed; however, Yellen believes if it receives bi-partisan support, a recovery could soon follow.

Yellen also stated that “We have people suffering … through absolutely no fault of their own, we have to get them to the other side and make sure that this doesn’t take a permanent toll on their lives.”

As of writing the S&P 500 was up 0.36%, with the Dow trading 0.47% higher.

Tesla investment sends Bitcoin to record high

Bitcoin rallied to an all-time high to start the trading week, as it was announced that Tesla made a significant investment in cryptocurrency.

News reports on Monday stated that the company founded by Elon Musk had bought $1.5 billion worth of bitcoin.

The company stated that the move was made to bring “more flexibility (and) to further diversify and maximize returns on our cash.”

Elon Musk who last week changed his twitter bio to “bitcoin”, has been heavily involved in the crypto space recently, also helping Dogecoin rally to new highs.

Related: Past Bitcoin analysis by Surf’s Up Authors

As of writing this, BTCUSD hit an intraday high of $44,809.

Source: Bloomberg

FTSE 100 rises as COVID-19 cases slow in UK

 The FTSE 100 in London today rose on reports stating that the UK’s daily COVID-19 infections had fallen to their lowest in two months.

With the government expected to announce new guidelines regarding lockdown measures in the next few weeks, today’s data would boost the chances of seeing some relaxation to the rules.

Figures showed that there were 14,104 positive tests of COVID-19 in the latest daily total, which is down from 15,845 yesterday, and the lowest figure since December 8th.

Over 12 million people had also received the first dose of the vaccine. As of writing the FTSE 100 was up 0.53%.

Quote of the day – “Stocks are bought not in fear but in hope. They are typically sold out of fear.”

Justin Mamis

To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

TVM Global Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C.

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.