Skip to content Skip to footer

Tradeview’s Daily Digest – 9th June

Nasdaq nears 10,000 as Dow drops

Since breaking its February all-time high last Friday, the tech heavy Nasdaq has not looked back. The index has now hit a record high for 3 consecutive sessions. In contrast, the Dow Jones dropped 200 points in trading on Tuesday, with the S&P 500 also slipping.

The Nasdaq has become the first major U.S. index to enter a new bull market after the lows in March. 

The rally in U.S. stocks has been helped  by the surprising and historic May jobs data which strengthened the hopes of economic recovery post COVID-19.

Oil to drop 20%” says Goldman Sachs

Even after the recent rebound in oil prices, some in the market still believe that another decline could be on the cards. On Tuesday, Goldman Sachs stated that they see “a correction in oil prices on the horizon”.

The bank went on to say , “ we believe the risks to the downside have increased substantially and are now looking for a 15-20% correction which may already be underway after Monday’s modest sell-off.

With fears of a potential second wave of Covid-19, many on the demand side, have been reluctant to fully “refuel” as they fear potential further lockdowns.

Air industry set for $84 billion loss

We can all agree that the airline industry has been one of, if not, “the” biggest loser in 2020. 

On Tuesday it was said that Airlines are set to lose close to $84 billion  as a result of the coronavirus pandemic. This comes as global lockdowns have limited the need for domestic and overseas travel reducing industry revenues as a result.

In a report by the International Air Transport Association published Tuesday, IATA forecast a 50% decline in revenue, making 2020 the worst year in the sector’s history.

“The goal of a successful trader is to make the best trades. Money is secondary.”

Alexander Elder

Biggest Bull

Gold: Gold continued to climb on Tuesday, gaining another $17 as markets wait for tomorrow’s FOMC meeting.

Biggest Bear

DAX: Similar to other global stock indices, the DAX fell on Tuesday, as bears began to short the index. Moving averages show that a downward trend could also be on the way. Potentially more declines?

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.