Recap June 21: Tesla Asks Austin for Tax Break – Apple at Record Highs (Recap Ep076)

06/21/20 • 23 min

This week, the world stocks were moved by the fears of a second coronavirus outbreak and the tensions between the US and China. On the other hand, global markets rally Tuesday and Wednesday after the U.S. Federal Reserve launched measures meant to ease the strain on markets & help businesses hurt by the coronavirus pandemic with the Lending Program.

U.S. President Trump, facing widespread criticism that his policies & inflammatory rhetoric have aggravated a racial divide in the United States, signed an executive order on Tuesday, that he says will reform police practices, even as he calls for law & order nationwide & for Congressional action.

The U.K. & the European Union say they will intensify negotiations on reaching a comprehensive agreement on the terms of their future relationship. Four main areas to cover include a fair playing field for all companies, fishing, police cooperation & governance in European wide institutions.

Shares of JD.com soared 5.7% at the open on their 1st day of trading in Hong Kong, in a secondary listing that will give the e-commerce giant proceeds of $3.87B. Follows listings by rival Alibaba & gaming firm NetEase as rising U.S.-China tensions lead to more scrutiny of foreign firms listed on American exchanges.

Apple also reached a new all-time high of $356.56, with a market capitalization of $1.52T, maintaining its position as the most valuable U.S. company.

Qantas has canceled its international flights for 4 months; U.S. weekly jobless claims exceeded the forecast; the U.S. pulls out of talks over a new global tax framework; Swiss National Bank to maintain negative interest rates; Lighthizer to push WTO for tariff adjustments; Home loan costs hit record lows in the US; charging stations for electric cars increased 60% in 2019; North-South Korean relations office was destroyed.

The post Recap June 21: Tesla Asks Austin for Tax Break – Apple at Record Highs (Recap Ep076) appeared first on Investing & Day Trading Education: Day Trading Academy.

Apple also reached a new all-time high of $356.56, with a market capitalization of $1.52T, maintaining its position as the most valuable U.S. company.

The post Recap June 21: Tesla Asks Austin for Tax Break – Apple at Record Highs (Recap Ep076) appeared first on Investing & Day Trading Education: Day Trading Academy.

Previous Episode

Recap June 14: Tesla ALL IN at $1,000 – Amazon/Apple record Highs (Recap Ep075)

In this week’s recap we talk about Elon Musk saying it was time to go all out and bring the Tesla Semi to volume production making the stocks jump. Amazon, Apple, Microsoft & Amazon also reached new record highs.
Tesla shares topped $1,000 for the 1st time ever on Wednesday & early Thursday with a market capitalization of over $190B, before falling back. CEO Elon Musk wrote to employees that it was “time to go all out” & put its Semi truck into volume production. A rally of about another 15% in Tesla shares could see it become the world’s most valuable carmaker, replacing Toyota.
U.S. based Amazon reached a new all-time high on Wednesday, when its stock reached $2,722.35. Shares were up over 52%, since the March lows & up +38% in 2020 & +37% in 52 weeks. Amazon has a market capitalization of some $1.32 trillion.
Apple has become the 1st U.S. company to reach a $1.5 trillion market valuation, with capitalization at $1.53 trillion. Apple reached a new all-time high yesterday, for its stock at $354.77. Shares are up +40.63% since the March lows & up +18.88% in 2020 & +79.80% in 52 weeks.
Canada’s biggest securities regulator said on Thursday that last year’s collapse of Canadian cryptocurrency trading platform Quadriga CX was due to a Ponzi scheme, operated by founder Gerald Cotten, who died suddenly in December 2018.
Microsoft reached a new all-time high on Wednesday, when its stock reached $198.52. Shares were up over 34%, since the March lows & up over +18% in 2020 & over +40% in 52 weeks. Microsoft has a market capitalization of $1.49 trillion.
U.S. Federal Reserve left interest rates unchanged & committed to maintaining its unprecedented stimulus plan until the economy “has weathered recent events.” Says no interest rate hikes this year or in 2021. Even in 2022, the majority of policymakers believe rates will remain at the current rate levels. The Central Bank is still in opposition to negative interest rates.

The U.S. is China’s largest pork supplier; Over 1.5M filed new claims for unemployment in the U.S.; Intensified timetable for UK-EU free trade negotiations; Fenn’s treasure found in the US; The United States is officially in recession; More job cuts in UK companies are coming.

The post Recap June 14: Tesla ALL IN at $1,000 – Amazon/Apple record Highs (Recap Ep075) appeared first on Investing & Day Trading Education: Day Trading Academy.

Next Episode

Recap June 28: Tesla Horrible Quality – Worst Economic Crisis since Great Depression (Recap Ep077)

This week’s recap found two key factors: the markets were affected by fears of a second outbreak of coronavirus in the US and major economic powers, and global monetary stimulus to boost the economy.

Global stocks move higher in uneven trading on Thursday, as investors calculated the potential economic impact of a surge in U.S. coronavirus cases versus the loosening restrictions on the U.S. banking sector, while safer assets, including U.S. Treasuries & the dollar, oil & precious metals edged higher.

The U.S. government is now weighing new tariffs on $3.1B of imports from France, Germany, Spain & the U.K. As the E.U. prepares to open its borders to international travelers, it may also extend a ban on visitors from America, as Europeans are still prohibited from entering the U.S. under virus travel restrictions.

U.S. consumer spending rebounded by the most on record in May, which accounts for over 2/3 of U.S. economic activity, jumping 8.2%. The largest increase since the government started tracking the series in 1959, but the gains are not likely to be sustainable, with income dropping & expected to decline even further, as millions lose their unemployment checks starting next month.

U.S. crude storage hit another record; India to suspend some deals with Chinese firms; Duda & Trump to sign a defense cooperation agreement; Amazon to buy Zoox for over $1B; Nike suffers a quarterly loss; a rather powerful earthquake struck Mexico; world’s most powerful supercomputer seeks a cure for coronavirus; Billions of desert locusts invading Sanaa.

The post Recap June 28: Tesla Horrible Quality – Worst Economic Crisis since Great Depression (Recap Ep077) appeared first on Investing & Day Trading Education: Day Trading Academy.