Skip to content Skip to footer
Stocks rally as markets ignore virus concerns

Tradeview’s Daily Digest – 29th June

Stocks rally as markets ignore virus concerns  

Last week was filled with uncertainty as COVID-19 cases rose in the U.S.  Monday has seen markets ignore those concerns, to mount a rally.

To begin the week where we will have NFP on Thursday, as a result of the U.S. Independence Day. The Dow Jones Industrial Average traded up by over 2% as Americans looked forward to July 4th. 

The S&P 500 and NASDAQ both gained 1%. Gold which initially went to as high as $1,775, fell as investors bought equities.

UK Mortgage approvals hit record low

On Monday, the Bank of England released data showing how the UK’s housing market is performing during the COVID-19 pandemic.

The report revealed that British mortgage approvals fell to the lowest on record in the month of May.

In May around  9,273 mortgages were approved – which is the lowest since  records began in October 1997.

GBPUSD broke through the 1.24285 floor, going as low as 1.22524.

India bans Chinese Apps

One of the world’s largest countries in terms of population, has today banned Chinese apps from being used in the country.

On Monday, the Indian government stated, it has banned close to 59, mostly Chinese Apps from being used.

These include TikTok, Alibaba and WeChat. The given reason was said to be over security concerns.

Quote of the day: “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.”

Tony Robbins

Biggest Bull

WS30 (Futures): After getting close to breaking out of the 24,850 support last week, the Dow futures rallied from the floor to reach a high of 25,499 on Monday.

Source: Tradeview MT4

Biggest Bear

GBPUSD: Cable fell to as low as 1.22524 on Monday, after ending Friday at 1.24285. Will this pair continue to drop as more UK and U.S. data gets released?

Source: Tradeview MT4

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.

Tradeview Asia 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 Global

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.