ZuluTrade Blog
Image

Market View

Market Recap – All time highs

Friday, January 17, 2020 10:43 AM GMT

The US equities rally continues, with all major indexes (SP500, Dow Jones 30, Nasdaq) recording all-time highs. With the exception of Goldman Sachs and Wells Fargo, major US banks beat expectations. On Tuesday, it was the JP Morgan turn, on Wednesday it was the Bank of America and BlackRock turn. Yesterday it was Morgan Stanley turn to report +46% profits, sending its stock price 8% higher.

A second attempt to end the civil war in Libya, will take place in Berlin on the weekend. The first attempt made on Monday, in Moscow. That meeting, was attended by delegates from Russia, Turkey, the UN recognized government of Libya and its rival, Khalifa Haftar. This time, the Berlin summit, will be attended by delegates from Germany, France, USA, Russia, Turkey, China, UAE and UK. Greece was not invited to participate. Greece intents to veto at the EU summit level, any political solution that would not cancel the recently signed memorandum between the Libyan government and Turkey. The memorandum is questioning the Greek maritime borders.

Macro releases:  Today’s Chinese readings were positive, with industrial production increasing and the Chinese GDP growth anchoring at 6.0%.  Later today, the economic calendar includes a health check of US housing market and the US capacity utilization rate.

Disclaimer

The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

Comments are closed

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Signing up is totally free, and there is NO contract and NO monthly fees, ever.

This blog is for informational purposes only. This blog is not intended for distribution channels and may not be reproduced or distributed without the permission of Zulu Trade ltd or any of its affiliated entities (“ZuluTrade”). All opinions, news, prices or other information contained in this blog are provided as general market commentary and this report does not contain and it is in not to be considered in any circumstance as market analysis, offer or solicitation to buy or sell any financial instruments, personalized or general recommendation for any investment decision or investment strategy by ZuluTrade, in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this blog should not be construed as financial or investment advice on any subject matter. The financial instruments referred to herein may not be suitable for all investors and any investments on such financial instruments requires the assessment by each investor and its counsels of the investor’s investment characteristics, including the investment risks which the latter is willing to assume. This blog has been based on information which has been made public, obtained from sources believed to be reliable, but it has not been verified by ZuluTrade. No representation or warranty (expressed or implied) is made as to the accuracy, completeness, correctness, timeliness or fairness of the information or opinions herein, all of which are subject to change without notice. No responsibility of liability whatsoever of howsoever arising is accepted in relation to the contents hereof by ZuluTrade or any of its directors, officers, employees. Further, no representation is being made that any results will be achieved, and past performance is not indicative of future performance.