Today’s highlights
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Wall Street declines
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Cryptos in the red
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UK stocks lag
Wall Street retracts from record highs
Major US stock indices slipped from record highs to start the week, with the DJ30 down by 0.7% and the NASDAQ100 down 1%. The NASDAQ100 was the worst performer of the major US indices yesterday, but the SPX500 still suffered a 0.5% loss. Peloton Interactive brought up the back of the pack in the NASDAQ100 with a 7.3% loss for the day. Yesterday’s fall came after the US government warned owners of its $4,000 plus Tread+ machine to stop using it due to safety concerns, something that Peloton has refused to do.
Cryptos take a step back
The crypto market was mostly lower over the past 24 hours, as 9 of the top 10 cryptos were in the red at time of writing, including 3 with double-digit losses. Bitcoin was down more than 3%, hovering above $55,000, while both XRP and Bitcoin Cash were each down more than 10%.
Melrose Industries leads UK100 lower
The UK100 fell marginally yesterday, with turnaround specialist Melrose Industries being the day’s worst performer, falling 4.6%. Melrose’s drop came after reports that it plans to pay down its debts and plug a pension deficit through disposing of assets, including its US air conditioning business Nortek Air Management. At the top of the index, supermarket names enjoyed a solid day, with Sainsbury up 2.4% and Ocado Group up 2.1%.
Other highlights
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New top 10 cryptos on eToro: We are delighted to introduce two new additions to our crypto selection, Chainlink (LINK) and Uniswap (UNI). Chainlink is a decentralized oracle network that aims to connect smart contracts with data from the real world. Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.
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Oil continues to climb: After finishing yesterday in the green, the black gold registered more gains this morning, trading around $64.
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Tesla crash impacts stock: Electric carmaker Tesla made headlines after two men were killed in a crash involving one of its cars, reportedly without a driver at the wheel. Tesla’s share price closed 3.4% down yesterday, although it was significantly lower earlier in the day.
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Apple spring event: Consumer technology giant Apple is hosting a spring event today, where it is expected to unveil new iPads, with other rumours including new AirPods and potentially some new Macs.
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Juventus jumps on Super League news: Italian football club Juventus yesterday jumped 17.5% following reports that it will be part of a new 12-team European Super League. For the most recent and significant price movements in markets, check out the Market Movers page.
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Volatility expected for NZD: Quarterly CPI data will be published in New Zealand tonight at 22:45 GMT, potentially generating volatility for the Kiwi dollar.
Stocks earnings releases on 20/04/2021
Stocks earnings releases on 21/04/2021
Earnings season continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar.