Ipek Ozkardeskaya
Swissquote Bank Ltd
Major US indices had a good day yesterday, as all three of them rallied between 1.50 and 1.75% on the back of strong earnings from the big US banks. The rise in trading that banks inherited from the pandemic continued boosting their revenues.
In the tech IPOs space, investors offered a warm welcome to GitLab in Nasdaq yesterday. The company had priced its stock at $77 on Wednesday, and the stock price closed above the $100 mark at the end of the first day, giving the company a near $15 billion valuation.
Elsewhere, the International Energy Agency said that ‘an acute shortage in natural gas, LNG and coal supplies stemming from the gathering global economic recovery has sparked a precipitous run-up in prices for energy supplies and is triggering a massive switch to oil products’, adding that the latter could raise the daily consumption by 500’000 barrels per day over the next 6 months.
And finally, the fact that the US regulators could soon give a green light for Bitcoin ETFs is boosting optimism. The weekend looks promising for Bitcoin, which is now testing the $60K mark, and will certainly claim a fresh all-time high very soon. And Bitcoin appetite is about to boost interest in altcoins as well!
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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