Skip to content Skip to footer
The Dow gains after U.S Manufacturing activity rises

The Dow Makes Gains, UK retail sales send FTSE 100 higher & Bitcoin falls on China crackdown

Dow Jones gains as U.S. manufacturing activity rises

Out of the main U.S. indices, it was the Dow Jones which was trading the most in the green on Friday. The blue chip index rose on PMI data.

Figures released by IHS Markit showed that its U.S. manufacturing PMI rose to 61.5 in May thus far. The highest flash reading since 2009.

Today’s figures follow the final reading for April, which came in at 60.5 in April. Typically, a reading of 50 or above signals growth, with anything below highlighting contraction.

The Dow Jones rose on Friday as the flash reading beat market expectations of 60.2 reading for May.

As of writing, the Dow was trading 0.51% higher. The S&P 500  was up slightly at plus 0.12%, meanwhile NASDAQ was down 0.11%.

UK retail sales send FTSE 100 higher

The FTSE 100 closed slightly lower on Friday. The London based index stayed above 7,000 points after releasing UK retail sales figures.

FTSE 100 is trading higher after positive retail sales results

Data released by the Office for National Statistics showed that sales in April rose by 9.2% month on month. The biggest high street could re-open as lockdown restrictions ease.

Today’s figures see retail sales continue to grow, after rising 5.1% in March. The biggest contributor today’s rise was clothing sales soared by almost 70%.

In addition, online sales also dropped from 34.7% in March to 30% last month.

London’s FTSE 100 closed in the red to end the week.

Bitcoin falls on China crackdown

Bitcoin prices continued to tumble in today’s trading session, as China announced a crackdown on cryptocurrency mining.

Reports show Chinese Vice Premier Liu as he stated that the government had to. “Crack down on Bitcoin mining and trading behaviour, and resolutely prevent the transmission of individual risks to the social field”.

The news comes after a bad week of trading in the cryptocurrency market, which saw Bitcoin fall by over 30% in value.

BTCUSD fell to an intraday low of $36,546. However, Bitcoin was slightly higher as of writing, trading above $37,000.

Many believe that this week’s sell off will give opportunities to bullish Bitcoiners looking to “buy the dip”.

 Quote of the day – “Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.”

– George Soros

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.