Skip to content Skip to footer

Inflation and Covid Cases Rise in the UK, S&P 500 Drops From Record Highs & Apple’s New Payment Plan

Contents

S&P 500 drops from highs, before recovering as Powell tries to ease inflation fears

The S&P 500 fell from Tuesday’s record highs as Federal Reserve chair Jerome Powell said that the Fed was not close to altering its monetary policy stance.

Despite recent growth in the U.S. employment market, Powell stated that “Conditions in the labour market have continued to improve, but there is still a long way to go”.

In his address to the House Financial Services Committee, the Fed Chair also stated that inflation could continue to rise, however it would even out, once temporary factors fade.

Gold rose to its highest level in the last 4-weeks on the news, with several U.S. indices trading lower.

However, as of writing, earlier losses have cooled off, with the S&P 500 now trading 0.21% higher.

FTSE 100 slips as inflation, COVID-19 cases rise

Britain’s FTSE 100 was trading lower in today’s session, as data released showed that COVID-19 cases were at their highest since January.

Figures on Wednesday showed that a further 42,302 cases of the coronavirus were reported in the last 24-hours, with 49 deaths associated with to the virus.

As the British economy began to re-open, cases climbed, in particular of the Delta Variant which is said to stem from India.

News of this comes as it was also reported that the country’s inflation rate in June rose above the Bank of England‘s target.

The CPI came in at 2.5% last month, which is its highest since August 2018 and helped send the FTSE 100 0.47% lower on Wednesday.

Apple stock rises on “buy-now-pay-later” reports

Apple shares were trading higher on Wednesday as it was reported that the company was considering entering the “buy-now-pay-later” space.

This sector, which has been recently popularized through European based Klarna, has risen in adoption as shoppers look to offset payments for goods.

It is said that the new feature will enable Apple Pay users to purchase goods  through four interest-free instalments, made every 2-weeks.

This comes just as another company entered the market, with PayPal launching its a similar service in Australia, and stated that it would do away with late fees, in a bid to entice users.

As of writing, shares in $APPL were up 2.36%

Quote of the day – “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have”

– Paul Tudor Jones

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: 4th Floor Harbour Place 103 South Church St, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

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.
Website: www.tvmgloballtd.com

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.
Website: www.tradeview.eu

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.
Website: www.tradeviewlatam.com