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S&P 500, NASDAQ set new highs as Apple passes $2 trillion

Today’s Waves – 19th August

S&P 500, NASDAQ set new highs as Apple passes $2 trillion

Apple is now the first publicly traded company in the United States to cross over $2 trillion in market capitalization.

This feat boosted U.S. stock indices and led both the S&P 500 and NASDAQ to new highs before sliding back in afternoon trading. The move came as Apple rose by 1.3% to hit an intraday high of close to $468 per share.

Toward the close the S&P 500 was flat while the NASDAQ was down 0.14%.  Trading on the day was muted as U.S. officials earlier confirmed there are no scheduled trade talks with China.

Tesla up 33% this week, as share price nears $2,000

Tesla shares continue to climb as the company led by Elon Musk is now approaching the $2,000 handle with an intraday high of $1,911.

This week alone has seen share prices rally by over 33.6% since the electric car maker announced a 5-for-1 stock split.

This year has seen Tesla become the world’s most valuable car maker, with its market cap reaching over $340 billion.

UK and EU resume Brexit talks

A seventh round of Brexit negotiations began today, as officials from the EU and UK began further negotiations.

With the December deadline fast approaching, British chief negotiator David Frost and his EU counterpart, Michel Barnier met to discuss the possibility of agreeing a deal.

However, reports from the meeting suggested that any potential agreement is still several weeks away.

Both the DAX and FTSE 100 saw minimal gains on the news.

Quote of the day: “Frankly, I don’t see markets; I see risks, rewards, and money.”

Larry Hite

Biggest Bull

Crude Oil: Crude oil briefly broke above the $43 per barrel resistance level, climbing from an intraday low of $42.27.

Source: Tradeview MT4

Biggest Bear

XAUUSD: Gold suffered significant slips today, as both the NASDAQ and S&P 500 recorded new highs. The metal fell by close to $40 during the U.S. trading session.

Source: Tradeview MT4

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