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American stock funds report the greatest withdrawals in five weeks
For the last week American fund investors managed to diminish their exposure to stocks and they bought bonds, as Lipper data disclosed on Thursday. It’s because saber-rattling between North Korea and America shook market sentiment.
In America, for the seven days through August 9 stock funds reported $2.8 billion in withdrawals, thus marking the most impressive outflows for five weeks.
Almost $31 billion shifted into quite low-risk money market funds, which is the strongest outcome since 2013. Nearly $4 billion moved into municipal as well as taxable bonds.
Market participants took that defensive crouch because during the week America and North Korea exchanged threats. For instance, on Tuesday, Donald Trump told that aggression from Pyongyang would be repelled with fury and fire like the world has never observed. On the contrary, North Korea's state media informed that the country considered launching missiles toward the US Pacific territory Guam.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.