Facebook crashed
Zuckerberg has lost 7 billion dollars as companies pull adds from Facebook. Catch the moment!
AMAZON: doing well, thank you
What?
Amazon stock is at its all-time highs above $2,400.
Wait, what?!
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.
Why?
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.
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Latest news
Main market movements on August 11
The market sentiment improved after the USA reported some decreasing in coronavirus hospitalizations. Gold dropped below $2 000 and the US dollar dipped down, while stocks surged. Let’s have a closer look.
All attention to NZD
The RBNZ will make the monetary policy statement on August 12 at 5:00 MT time!
What drives the market on August 10?
The market has started the week with a mixed sentiment…
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