April 11th- Market Summary
Crude Oil (WTI)
as of 3:50 on 4/11/18, Today’s change
Oil Jumps as investors worry about tensions in the middle east.
A thwarted missile attack in Riyadh, Saudi Arabia
President Donald Trump threatens to launch missiles at Syria, unclear about retaliation for Chemical weapon use on civilians by Assad
Warning presented to Russia as well, Ruble tumbles
Defence ETF’s rise marginally
Reports of joint effort between UK, France, and US for said Missile attack
General market downturn in Europe and US
Crude (West Texas Intermediate) jumps 1.86%
Gold hits high amid Syria concerns
Gold rises amid concerns for stability in the middle east.
Facebook’s Zuckerberg testifies in Congress
Admits to collecting data on non-users
Senators suggest that time of tech’s self regulation may be over.
No major revelations, Zuckerberg still stands strong.
Many Senators appear clueless about the internet, Facebook stock up +1.68%
Federal Reserve’s Minutes from March 20-21 meeting released
Majority of members see brewing trade war (Steel and Aluminum tariffs) to have a significant effect on the economic outlook
Suggested steeper rate increases.
See a significant boost to output due to tax law and budget, over the next few years.
March CPI shows inflation warming up.
Markets still slide on inflation news, as Fed signals greater confidence in reaching 2% target.
Investors in toy companies predict that Toy R’ Us pain will subside
Mattel surges 6.85%, investors believe that cost cutting could help the toymaker.
Rush to use Toys R’ Us gift cards could also boost short term revenue for this quarter, along with easter season.
NASDAQ to delist Long Blockchain (Former Iced tea company)
Underlines that blockchain is losing its appeal among the mainstream
Bitcoin still holds steady as political tensions rise.
Barclays claims Bitcoin may have already peaked, MS dismisses Bitcoin’s threat to PayPal
Paul Ryan Retires
Signals a loss of faith in Trump by republican establishment
Signals a democratic wave in upcoming midterms
Could lead to more gridlock and government stalling later on next year.
One of AirBus’s major suppliers in facing a hostile takeover
GKN is UK-based supplier, 20% of its revenue is accounted for by AirBus
AirBus seems to generally be against the takeover, citing concerns over whether the turnaround firm will support R&D, although their position is still not clear.
AirBus drops 3.13%, and GKN Plc. up 2.00%