Skip to content Skip to footer

U.S. indices down on Initial jobless claims data – 11th February

The Dow Jones and S&P 500 indices traded lower on Thursday, as figures released showed that initial jobless claims remained close to record levels.

Jobless claims showed that close to 793,000 Americans had applied for state unemployment benefits in the past week, which ended February 6th.

Although many had forecasted 757,000 applications for last week, today’s numbers show the current magnitude of the U.S. Labor market crisis.

This is one of the reasons why we have seen many from Janet Yellen to Nancy Pelosi moving to push through President Biden’s $1.9 trillion stimulus package.

Although Pelosi stated that the House would approve and forward the Senate the COVID-19 bill by month’s end, markets still traded lower.

As of writing the Dow Jones and S&P 500 were down 0.36% and 0.09% respectively.

Related: Get all Surf’s Up S&P 500 news updates

Uber shares fall as earnings disappoint

Ride hailing app, Uber today saw its share price fall on the news that their Q4 earnings fell well below expectations.

With many nations around the world forcing its residents to stay at home and only travel for essential purposes, it was expected that Uber would see a drop in volume, however the expectations seemed to have been worse than expected.

The company reported a loss of 54 cents per share, versus expectations of 56 cents. This resulted in annual net losses of $6.77 billion.

In addition to this, revenue figures also disappointed coming in at $3.17 billion versus $3.58 billion expected.

Uber stock was down 1.56% as of writing.

Source: CNBC Television

Bitcoin edges closer to $50,000

After being boosted earlier in the week by the news Tesla had made a significant investment in Bitcoin, BTCUSD once again recorded new highs today.

The cryptocurrency rallied to an intraday high of $48,374, as many now expect the market to hit highs of $50,000 in the near future.

Overall, the value of Bitcoin has risen by over 60% so far this year, after quadrupling in price in 2020.

As of writing BTCUSD had marginally dropped and was trading at $47,600.

Quote of the day – “I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have”

Paul Tudor Jones

To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.

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.