Skip to content Skip to footer

Tradeview’s Daily Digest – 3rd June

OPEC agree to extend cuts

OPEC and its allies have agreed to extend production cuts by an additional month. The extension, which seems to be a compromise by both Russia and Saudia Arabia will see the continuation of the deal agreed in April. 

OPEC+ had previously agreed to cut output by a record 9.7 million barrels per day, which equates to around  10% of global output. 

These cuts were agreed for May and June in the hope of lifting prices. Since the cuts began on May 1st – to date WTI crude prices rose by roughly $25 , and now trade close to $36 per barrel.

Gold drops by $57 in 2 days

Today we saw the price of gold fall once again as stock markets continue to rally. After dropping to a daily low of $1,689. Which has been the biggest 2 day decline since mid-April, the total amount lost since yesterday stood at close to $57. 

NASDAQ continues to run

The Nasdaq which yesterday was approximately 3% away from its record high, today stands at 1.8% from this level.  Traders now look towards Friday’s NFP for signs that America is slowly getting back to work again. Which could lead to further stock market rallies.

Boeing was one of the biggest individual gainers today, climbing as much as 8.5%.

“Do more of what works and less of what doesn’t.”

Steve Clark

Biggest Bull

S&P500: The S&P500 completed its greatest ever “50 day” rally on Wednesday, leaving the index 8% away from its all-time high.

Biggest Bear

Gold: Another huge day of losses for gold which has now dropped by a total of $57 in the past 2 days. The low of today saw prices quoting $1,689.

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.
Website: www.tradeviewforex.com

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.
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 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.
Website: www.tradeviewlatam.com