Skip to content Skip to footer
NASDAQ gains ahead of big tech testimony

NASDAQ Falls as Inflation Expectation Rises, Oil Prices Climb to 6-Week High & Walmart Denies Adoption of Litecoin

NASDAQ lower as U.S. inflation expectation rises

The tech-centric NASDAQ was trading lower to start the week, as data revealed that consumers inflation expectations had risen.

Figures from the New York Fed showed that inflation expectations for the next year rose to 5.2% last month, which is the highest in 8-years.

Inflation expectations have now risen for ten consecutive months, with the Federal Reserve maintaining its policy stance.

💡 The Delta Variant and its effect on the recovery
As fatalities rise with the now dominant delta variant, people are becoming weary of going out. Hospitality and leisure related industries have been the hardest-hit. Recovery in these areas will come at a slower pace

This comes despite long-term inflation expectations well above their 2% target, with the Fed anticipating rates will begin to stabilize in upcoming months.

As of writing, the NASDAQ was trading 0.28% lower, with GBPUSD mostly unchanged in today’s session.

Oil prices climb to 6-week high

On Monday, oil prices raced to their highest level in over 6-weeks as concerns over the supply of U.S. oil continued to impact the sector.

The cost of Crude has been surging in recent weeks, in the aftermath of Hurricane Ida, and the anticipation of further upcoming storms that could impact several pipelines in Texas.

WTI crude hit an intraday high of $70.97 in today’s session, a level it hasn’t traded at since August 4th.

OPEC Oil demand forecast for 2022
In its closely watched monthly market report, OPEC raised its forecast for global oil demand for 2022 by just under a million barrels a day to 100.8 million barrels a day, higher than 2019’s demand level of 100.3 million barrels

All of this comes despite OPEC recently revising its 2021 demand forecast, expecting the recent surge in the Delta variant to lower the appetite for oil.

Many now expect that the price of WTI could be heading to its long-term resistance level of $77 per barrel.

Litecoin down after Walmart rumour rebuffed

Litecoin plummeted after Walmart denied claims that it would soon accept the cryptocurrency.

Over the weekend, it had been rumored that Walmart was on the verge of agreeing to accept LTC for in-store transactions, leading LTCUSD to climb by as much as 25% on the news.

Crypto currency adoption
Recently more and more talks have ignited about cryptocurrency adoption after El Salvador adopted Bitcoin as legal tender.

The rumours were initially published by reputable news site, “GlobeNewsWire”, however the company moved to quickly remove the post once Walmart rejected the claims.

Prices of LTCUSD hit an intraday high of $236.12, however have fallen to $171.03 since.

Quote of the day – “The stock market is filled with individuals who know the price of everything, but the value of nothing.”

– Phillip Fisher

Eliman Dambell

Senior Market Analyst


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.