Skip to content Skip to footer
U.S Consumer confidence on the rise

U.S Consumer Confidence Reaches 17-Month High, Tesla Earnings Beat Expectations & FTSE 100 Drops

U.S. Consumer confidence rises to 17-month high

Data from the United States on Tuesday showed that consumer confidence in July rose to its highest level in the past 17-months.

The U.S. economy was fully opened last month, as Americans celebrated the July 4th weekend, as well as the lifting of most COVID-19 restrictions.

Figures released by the Conference Board, highlighted that its consumer confidence index rose to a reading of 129.1 in July.

This was the highest level the index has printed since before the peak of the pandemic in February 2020.

The reading was also up from 128.9 the month prior, and better than the market expectation of a 123.9 decline.

Despite this news, both the Dow Jones and S&P 500 were marginally lower as of writing.

Tesla Q2 earnings beats expectations

Tesla kicked off the week of big tech earnings, by posting better than expected Q2 figures after yesterday’s closing bell.

The Elon Musk founded company reported $1.14 billion in net income for the quarter, which is the first time it has surpassed $1 billion.

Net income for the quarter was up 10x from last year’s amount of $104 million and comes as the company expanded its automotive sales.

Overall, earning per share came in at $1.45 vs 98 cents per share expected, with revenue climbing to $11.96 billion vs $11.30 billion expected.

Despite this, shares in the company were down 2.20% as of writing.

FTSE 100 falls below 7000 points

In the United Kingdom, the benchmark FTSE 100 fell below the 7000 point threshold as COVID-19 cases continued to remain elevated.

The government reported that COVID-19 related deaths today reached their highest point since March.

Figures revealed that there were 131 new coronavirus deaths, which took place 14 days after initial infection.

Regarding the news, Prime Minister Boris Johnson told reporters that, “People have got to remain very cautious and that remains the approach of the government”.

The FTSE 100 closed 0.42% lower on the news.

Quote of the day – “There is a huge difference between a good trade and good trading.”

– Steve Burns

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.