Skip to content Skip to footer
The NASDAQ vuilding, nasdaq and S&P 500 reached record highs as GDP data came in

NASDAQ, S&P 500 hit record highs

The NASDAQ and benchmark S&P 500 rallied to new highs on Thursday, as data released showed the U.S. economy had grown more than expected.

Data for the first quarter of the year highlighted that GDP had increased by 6.4% versus initial expectations of a 6.1% rise.

This was the highest level of growth in any first quarter in the United States since 1984 and comes on the back of a record $1.2 trillion COVID-19 stimulus package.

GDP data coincided with the Labor Department releasing its weekly jobless claims report, which showed claims for state unemployment benefits fell by 13,000 to 553,000 during last week.

Today’s data helped send both the NASDAQ and S&P 500 to record all-time highs at the open.

Facebook rallies as earnings beat expectations

FAANG companies continued to report better than expected results, as Facebook became the latest member of the group to hold its earnings call.

The company founded by Mark Zuckerberg reported that both earnings and revenue had outperformed initial expectations.

Its earnings per share for the quarter came in at $3.30 per share versus $2.37, whilst revenue rose to $26.17 billion against the $23.67 billion expected.

As of writing, shares in the tech giant were up by 6.06%, the only blemish on the company’s report was the fact the DAU’s (Daily Active Users) fell just below expectations, coming in at 1.88 billion vs. 1.89 billion.

Ethereum hits new high as Bitcoin stalls

The value of Ethereum rose to a new high on Thursday, breaking its correlation with Bitcoin, which slipped in today’s session.

Ethereum, which is the second largest cryptocurrency by market cap, rose as news that the European Investment Bank was launching a digital bond programme on the ETH network.

ETHUSD rallied to a new high of $2800.44 earlier today, whilst BTCUSD fell to an intraday low of $52,706; after trading at a high of $54,445.

Regarding the move, the EIB stated that, “In another testimony of EIB’s leading position in capital markets’ innovation, this transaction marks the EIB’s first step as a pioneer in the use of blockchain technology for the issuance of financial securities”.

Quote of the day – “Time is your friend; impulse is your enemy.”

– John Bogle

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.