This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
AMAZON: doing well, thank you
Amazon stock is at its all-time highs above $2,400.
Just in case you were cautious about the stock market re-gaining the February-March losses so rapidly, have a look at Amazon stock price.
It’s not only a V-shape recovery – the price crossed the trend resistance line, which would be there if no crisis happened. Amazon simply says “I don’t care, and by the way, thank you” to the virus. It was at $2,190 before the virus, it dropped to $1,636 during the virus, and now it is at $2,400.
There should be someone out there who bought this stock at the bottom of $1,636. Well, now, just with one share of Amazon, this smart trader would have an additional $800 in the current account just out of thin air.
First of all, IT sector of the S&P is generally doing well and probably is among the best sectors in these times. Second, virus restrictions push societies to go more online so Amazon specifically gained from that. Lastly, the company recently announced hiring 75,000 employees, which sound very confident, especially in contrast to the dull economic outlooks voiced around.
Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Virgin Galactic (SPCE) will launch Richard Branson to space on July 11, aiming to beat Jeff Bezos.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.