Skip to content Skip to footer

Tradeview’s Daily Digest – 6th July

U.S. Service Sector returns to pre-COVID highs

After this weekend’s 4th of July celebrations in the U.S, Monday saw the celebrations continue as the services sector posted a huge rebound.

The ISM data released today showed that non-manufacturing activity  jumped to 57.1 for the month of June.

This is the highest since February and an increase from the 45.4 reading in May. 

The U.S. services sector has significantly suffered in recent months due to the uncertainty surrounding the coronavirus. This resulted in a 11 year low of 41.8 in April.

Readings above 50 symbolise growth.

China leads the way as global stock rally

On Monday, China’s Shanghai Composite rallied close to 5.7% to record its biggest one-day move in the past 5 years.

The move seems to have originated from Chinese media talking up hopes of a “significant” economic recovery.

As a result retail investors in China seem to have piled into the equity markets  in the hope of such a recovery gaining momentum.

Tesla, which has a growing presence in China saw a 9% increase in its share price.

The Dow was up 1.42%, S&P 500 1.54%, and the NASDAQ 2.32%. The FTSE 100 was up 2.3%.

Buffett’s Berkshire makes first major pandemic deal   

After being criticised for “hoarding” cash during the pandemic, Berkshire Hathaway has finally made a deal.

The firm has pulled the trigger on a $4 billion purchase of the natural gas  operator Dominion Energy.

This is the first deal made by the Warren Buffett founded company since the pandemic began in March.

Quote of the day: “The market is a device for transferring money from the impatient to the patient.”

Warren Buffet

Biggest Bull

UK100 (Futures): The UK100 rallied big on Monday, gapping up as pubs, restaurants and cafes opened for the first time since lockdown restrictions were put in place in March. Starting the day at 6188, the index rallied to as high as 6307.

Source: Tradeview MT4

Biggest Bear

USDJPY: After failing to break the 108 level last week, USDJPY continued to fall today, dropping to a low of 107.400.

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.

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.