Skip to content Skip to footer
U.S. Indices fall, as Business activity slows

Today’s Waves – 23rd September

U.S. Indices fall, as Business activity slows

Data released today shows that U.S. business activity has so far slowed down in September, whilst still remaining in growth territory.

The report comes as IHS Markit released its flash U.S. Composite PMI Index, which tracks both the manufacturing and services sectors. Figures slipped to a reading of 54.4 this month from 54.6 in August, a reading above 50 symbolises growth.

Despite a surge of 8.9% from Nike, leading to a record high valuation, the S&P 500 was down 1.62%, while the Nasdaq fell 2.21%. The Dow Jones was the best performing index with a decline of 1.36% in mid-afternoon trading.

Tesla drops $50 billion

After being one of the biggest bulls in 2020, the last few weeks have seen several ups and downs for Tesla.

The world’s most valuable car maker today saw its share price fall, as investors slashed $50 billion from the company’s market value. The move comes despite promises from CEO and Founder Elon Musk to cut electric vehicle costs.

Musk stated to an online audience of more than 270,000, “In three years… we can do a $25,000 car that will be basically on par [with], maybe slightly better than a comparable gasoline car.”  

Shares in Tesla were down 9.66% and contributed to the NASDAQ falling 2.21% overall.

Gold continues to shed pounds

Gold prices fell to their lowest level since August 12th as this week’s sell off continued in today’s trading session.

As of writing, XAUUSD is trading at $1,865, which is also a long term floor. Prices in the metal have been on the decline since reaching an all-time high of $2,074 in August.

Many believe that the safe-haven market could be set for further drops as we head into the U.S. election on November 3rd.

Quote of the day – “In this business, if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.

Peter Lynch

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.