Stock Market review of the week


On Monday, the Dow Jones Industrial Average (DJI) dipped by 0.8% to end the day at 24,462.94. The S&P 500 also declined by 0.9% to close the day at 2,670.14. The Nasdaq Composite Index followed suit by losing 1.3% to close at 7146.13.

The shares of Apple AAPL fell due to concerns on weak demand for iPhones, which ultimately led to the decline in the stocks of other tech companies. Alphabet Inc. GOOGL tanked by 1.1% while Amazon AMZN and Facebook FB dipped by 1.9% and 1% respectively.


By the end of the trading session on Tuesday, the Dow Jones Industrial Average went down by 425 points, with the broader S&P 500 Index dropping by 36 points. NASDAQ followed suit and plunged by 121 points. The market was mostly negative, more losers than winners.

With some numerous reports coming out that didn’t go well with traders, the shares of Alphabet GOOGL, 3M MMM, Lockheed Martin LMT, and Caterpillar CAT all traded lower, with indicated that traders were left waiting for some good news.



The selloffs by major averages the day before didn’t stop the U.S indexes from climbing into the green zone on Wednesday. A strong quarterly report by Boeing BA was the major catalyst that helped bring the bulls back to the market.

The Dow Jones started the day by dropping roughly 200 points but bounced back to recover the majority of its losses. The S&P 500 and NASDAQ also recorded gains even though at a moderate level compared to Dow Jones, though NASDAQ later shed its gains to end up in the red by the end of the day.

Investors took in favorably to Comcast CMCSA after reports emerged that the telecom conglomerate offered to acquire British satellite broadcaster Sky in a deal worth $31 billion. This definitely affects the plan of Twenty-First Century Fox’s FOXA which had intended to purchase the remaining 61% of Sky that it doesn’t own. Walt Disney DIS is also affected as it is still battling to acquire Fox’s substantial entertainment assets.


The market recorded some gains on Thursday, with the Dow Jones Industrial Average going up by 239 points, the S&P 500 Index going ahead by 28 points, and NASDAQ going up by 115 points.

The earning reports help lift the sentiment on Wall Street and some companies like Facebook FB, Visa V, and United Parcel Service UPS all traded higher on Thursday.


The Dow Jones Industrial Average DJIA dipped by 21 points on Friday to close at 24,301. The &P 500 SPX meanwhile was up by 3 points or 0.1% to end the day at 2,670 while the Nasdaq Composite Index COMP went up by 30 points to 7,149.

Amazon AMZN hit a record high by going up 6.4% for the day. Late on Thursday, the e-commerce giant posted profit which was more than double the previous one as the company announced an increase in Prime Subscription prices by 20%.

Intel INTC also went up but by 2.6% after the quarterly results by the chip maker exceeded the Wall Street prediction. Microsoft MSFT rose by a similar number, up 2.5% after the company released its earnings which were better than expected.

Exxon Mobil Corp. XOM meanwhile plunged by 4% after its first-quarter earnings disappointed even though the revenue was above what analysts had forecasted. Chevron Corp. CVX, on the other hand, went up by 0.6% after it released stronger-than-expected earnings. Unfortunately, its revenue was below expectations.

Forex Markets review of the week: Decrease in European Bond Yields and ECB Statement Affects Euro

The Euro started the week recording gains against most of its competitors but sustained heavy losses after the European Central Bank announced that it wouldn’t be implementing any changes to its monetary policy.

Monday: Dollar Holds on to Gains on Upbeat Data


The Greenback continued its recent gains by beating most of its competitors, with a few upbeat medium-tier figures helping its cause.

The pair of USD/JPY went up by 107 pips to trade at 108.73, USD/CAD also advanced by 0.65% to 1.2847, and GBP/USD plunged by 0.43% to end the day trading at 1.3942.

Tuesday: Kiwi Slumps as Risk Aversion Returns


The two top currencies in Europe started the day strongly and were able to hold on to their gains, recording impressive gains against the comdolls and the Japanese Yen.

The pair of EUR/NZD advanced to trade at 1.7178, EUR/CHF also went up to end the day at 1.1974, GBP/AUD surged to 1.8383, GBP/USD also went up to trade at 1.3977, and GBP/JPY went up to 151.89

Wednesday: Rising Bond Yields Leads to Higher USD


It was another fruitful day for the greenback, with the US Dollars recording gains against most of the major competitors. The major catalysts for its movements are the increase in bond yields and a recovery in U.S equities.

EUR/USD pair dropped to 1.2173, GBP/USD also went down to trade at 1.3938, USD/JPY, on the other hand, went up to trade at 109.33, and USD/CHF also recorded gains to trade at 0.9827.


The increase in oil prices was the major catalyst for the rise in the value of the Loonie, with the currency recording impressive gains against its fellow comdolls.

NZD/CAD dipped to 0.9077, AUD/CAD also dropped for the day to trade at 0.9718, EUR/CAD fell to 1.5634, and GBP/CAD equally dropped to trade at 1.7896

Thursday: EUR Erases Post-Statement Gains as ECB Projects Caution


The Euro sustained heavy losses against most of its competitors despite starting the day strongly. The currency was hit following the presser by ECB President Mario Draghi who announced that the bank wouldn’t be making any changes to its monetary policies.

EUR/USD began trading at a high of 1.2211 before plunging to 1.2104, EUR/JPY dropped to a daily low of 132.38 after starting the day at a daily high of 133.22, and EUR/GBP also dropped to 0.8698 after trading at 0.8728 for most of the day


The biggest loser amongst the top currencies was the Swiss Franc.

USD/CHF surged to a daily high of 0.9892 after starting at 0.9847, CHF/JPY dipped from 110.89 to 110.54, and GBP/CHF started at a low of 1.3742 but went up to finish at 1.3768.

Friday, April 27: GBP Gutted After U.K. GDP Miss


The British Pound suffered heavy losses earlier today after the GDP report from the UK was released. The report missed the expectations by the Bank of England, with the disappointment likely leading to a decreased expectation for a BOE rate hike next month.

GBP/USD fell to 1.3757, GBP/AUD also plunged to trade at 1.8216, and GBP/NZD dipped to 1.9504

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