Skip to content Skip to footer

The U.S Economy Recovers to Pre-pandemic Levels, Robinhood’s Anticipated IPO & FTSE 100 Rebounds

U.S. economy returns to pre-pandemic level

Data from the United States on Thursday showed that the economy had recovered to pre-pandemic levels in recent months.

According to the report from The Commerce Department, the U.S. economy grew by 8.5% in Q2, which is the second fastest pace of growth in nearly 40 years.

Many attribute the growth to the historic government stimulus package earlier in the year, where many Americans received cheques of $1,400 in aid.

This also comes as vaccinations against COVID-19 rapidly rose, with many major states now having close to over 70% of their population fully vaccinated.

As of writing, the S&P 500 was up 0.54%, recording a new high in the process.

Robinhood set for IPO

Stock brokerage firm Robinhood was set for an Initial Public Offering on Thursday, in one of the most anticipated IPOs in recent years.

Robinhood rose to prominence last year, as many retail investors entered the stock market for the first time, due to commission free trading offered by the company.

It has been reported that Robinhood will price the offering at $38 per share, at a valuation of around $32 billion.

According to reports, the company has roughly 22.5 million users and more than $100 billion in client capital.

Many now wait to see how the company would fare in the publicly traded markets.

FTSE 100 rebounds on oil gains

After falling below 7,000 points earlier in the week, London’s FTSE 100 rebounded back above this level in today’s session.

The rally came as shares in FTSE listed Royal Dutch Shell climbed as oil prices continued to rebound after last week’s sell off.

Prices of WTI crude climbed to an intraday high of $73.67, which is the highest price per barrel in the last 2-weeks.

The rise comes as U.S. oil inventories fell last week, and as data continues to show growth in the global economy, boosting hopes for further demand in energies.

Many now believe that prices could be heading for the long term resistance of $75 per barrel.

Quote of the day – “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.”

– Tony Robbins

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.