Skip to content Skip to footer

Tradeview’s Daily Digest – 7th July

Tech stocks continue to set new highs

After yesterday’s buoyant beginning to the week, markets today started slightly sluggish with several key U.S indices falling.

However as the day progressed, yesterday’s rallies which contributed to Tesla reaching new highs, seemed to have reappeared.

Today it was Microsoft and Apple’s turn to lead the turnaround in sentiment for U.S. stock indices, with both reaching new record highs.

Microsoft jumped 1.6% to hit its all-time high. Whilst Apple, Facebook and Netflix also gained to trade at new highs  

UK consumer activity down 50%

According to data released today, the number of shoppers visiting retailers in the UK was down close to 50% in the first half of the year compared to 2019.

Although the UK has reopened its economy, it seems as though much more is needed to see shoppers spending at the levels they were pre-pandemic.

The hope is that money spent in pubs and restaurants can spill over to help the recovery of British high streets.

This report comes a day before the UK government is set to announce their summer economic plan.

FTSE 100 drops ahead of Summer Economic Update

Ahead of tomorrow’s Summer Economic Update in the UK, the FTSE 100 dropped back towards its support point, after recently threatening to break the 6,320 resistance.

Many expect Chancellor Rishi Sunak to outline a fresh set of initiatives to try to spark an economic recovery.

However today analysts warned that with many businesses reopening,  ending the country’s furlough scheme could result in unemployment rising from 3.9% to 10%, in the second half of the year. 

Quote of the day: “Hope is a bogus emotion that only costs you money.”

Jim Cramer

Biggest Bull

Gold: Gold nears $1,800 after a huge rally today, which saw the metal gain $20 in under 6 hours. 

Source: Tradeview MT4

Biggest Bear

EURGBP: After failing to break the resistance of 0.90811, EURGBP continued to slide, reaching a low of 0.89667 in today’s session.

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.
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