• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

US stocks, oil and Bitcoin

November 1, 2021
in Trading
Reading Time: 2 mins read
A A
0
US stocks, oil and Bitcoin
0
SHARES
13
VIEWS
ShareShareShareShareShare
  • S&P 500, Dow Jones, and Nasdaq all closed positive following Apple-Amazon news sell-off scare

  • Oil prices fell on China’s release of gasoline and diesel reserves

  • Bitcoin price jumped above $62,000 again after retesting $60k on Sunday

Asian stocks open higher on positive news from Japan, with the trend likely to hold across the US and European markets after Friday closed higher across global stocks. Bitcoin’s dump to lows of $60k has provided another buying opportunity while oil prices have dropped slightly following a statement from Chinese authorities regarding its gasoline and diesel reserves.

US stocks shrug off Apple/Amazon sell-off

Stocks closed positive on Friday after a slowdown during the morning session, fueled by negative financial news from Apple and Amazon.

Apple (AAPL) closed -1.50% and Amazon (AMZN) -1.83% following their respective disappointing earnings reports, with the negative reaction having earlier seen the broader market waver.

After the early morning sell-off in the top tier stocks, the markets rallied to close in the green, with the S&P 500 Index closing at +0.19%, while the Dow Jones Industrials Index ended the day at +0.25%. Nasdaq 100 Index also edged slightly north to close at +0.46%. 

Asian stocks were largely green on Monday morning, edging higher by 2% and buoyed by Japan’s election results that saw the Liberal Democratic Party of Prime Minister Fumio Kishida retain the parliamentary majority.

While the G20 meeting in Rome had no major impact on the market, traders are likely to factor in upcoming UK, US, and Australian central bank meetings.

Oil prices drop on Chinese gasoline and diesel reserves release

According to Reuters, global oil prices shrunk on Monday on news that China had released gasoline and diesel reserves. Brent crude futures had declined by 0.6% to $83.26 at the time of writing, with Brent crude futures slipping 0.8% to $82.92.

Meanwhile, Sunward Trading chief analyst Chiyoki Chen says that investors are likely to sell more as the market approaches the OPEC+ meeting scheduled for 4 November.

Bitcoin breaks above $62k, again

Bitcoin saw some sell-off over the weekend, falling by about 1.2% to test the $60,000 price level. The declines began Friday and mirrored the slowdown in the stock market.

Monday however sees the benchmark cryptocurrency seek to establish support above $62k. As of writing, BTC/USD has ridden a bullish start to the week to test highs of $62,444 although it has also hit an intraday low of $59,500 on Coinbase.

With a short-term outlook bullish, BTC price might yet reclaim its all-time high as institutional demand grows. The same perspective could hold for Ethereum (ETH), which is trading above $4,300 and about 5.2% higher over the week.

Credit: Source link

ShareTweetSendPinShare
Previous Post

American Airlines reveals what we all know about America’s labor shortage

Next Post

U.S. manufacturing sector slows moderately in October

Related Posts

Strategic Cost Management Helps Energy Companies Uncover Supply Chain Inefficiencies
Trading

Plans For a Minimum Tax On Profits Of Multinationals- Global Trade Mag

June 26, 2022
4
Wiliot Revolutionizes Cold Chain Operations
Trading

Wiliot Revolutionizes Cold Chain Operations

June 25, 2022
8
How Virtual Credit Cards Are Powering New Digital Business Models
Trading

How Virtual Credit Cards Are Powering New Digital Business Models

June 24, 2022
6
SEKO Logistics Taps MyFBAPrep to be Preferred Amazon FBA Partner
Trading

SEKO Logistics Taps MyFBAPrep to be Preferred Amazon FBA Partner

June 24, 2022
4
Managing Organization Device Fleet with IoT Device
Trading

Managing Organization Device Fleet with IoT Device

June 24, 2022
6
Next Post
U.S. manufacturing sector slows moderately in October

U.S. manufacturing sector slows moderately in October

Recommended

Even inventor Bill Bengen is revisiting the 4% rule — is it still the key to making money last in retirement?

Even inventor Bill Bengen is revisiting the 4% rule — is it still the key to making money last in retirement?

May 31, 2022
5
Dutch Premier Says It’s Up to Italy to Contain Bond Spreads

Dutch Premier Says It’s Up to Italy to Contain Bond Spreads

June 26, 2022
5
Investing in Crypto with Staking and Savings

Investing in Crypto with Staking and Savings

June 23, 2022
6
Bitgert Price Analysis After Introducing USDT and USDC

Bitgert Price Analysis After Introducing USDT and USDC

June 24, 2022
7
How the Russia-Ukraine War Impacts Forex Markets

How the Russia-Ukraine War Impacts Forex Markets

May 31, 2022
4
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • These Are the Two Challenges for XRP Following 30% Recovery in 9 Days (Ripple Price Analysis)
  • Stocks pace towards worst start since 1970
  • U.S. families face ‘exponential increase’ in child care costs: Care.com CEO

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?