Google Cancels Staff Meeting

Alphabet’s Google cancelled a company-wide meeting on Thursday, scheduled to discuss the controversy over a memo opposing diversity policies after several of its employees became targets of a Gamergate-style campaign harassment. Google chief Sundar Pichai said in an email to employees that the company decided to cancel the meeting as employees expressed concerns “about their safety and worried they may be outed.” He stated that the firm will find other ways to gather and engage employees on the matter in the coming days.

source:theguardian, charnsitr / Shutterstock.com

Shares of Snap plunged 14 percent on Thursday after the company missed on revenue with a loss of -$0.16 earnings per share. The social media firm reported more than $400m quarterly losses and fewer than expected users in its second quarter earnings report. The company is struggling with fierce competition from Facebook, which offers similar features. Snap’s stock is trading less than $14, compared to $17 for its public offering in March. Chief executive Evan Spiegel said “we believe in the long-term success of Snap” and stated that he would not sell any of its own shares this year as he is confident in the firm’s prospects.

Internet giant Amazon halved the amount of U.K. corporation tax it paid last year, the firm saw a 50 percent fall in tax and an increase of 54 percent in turnover in the same period. Amazon U.K. Services is the company’s warehouse and logistics operation that employs almost “two-thirds of its 24,000 U.K. staff.” The U.S. President Donald Trump has warned North Korea to be “very, very nervous” after Pyongyang announced it plans to fire four missiles near the territory of Guam. Meanwhile, U.S. is about to release its Core CPI for the month of July at 12:30 GMT today.

Technical Analysis

USOIL

USOIL

After recording a high level of $50.14 a barrel at 12:00 UTC on Thursday’s session, the U.S. West Texas Intermediate started losing value from the very next hour and reached a low level of $48.38 a barrel by 19:00 UTC. Friday, the crude oil is dragged lower by persistent worries about oversupply despite a bigger-than-expected drawdown in U.S. crude inventories data. The commodity fell by 0.64 percent as it traded at $48.28 a barrel around 03:00 UTC and it may continue to fall.

GBP/USD

GBP/USD

The GBP/USD pair started off yesterday’s session bearishly at the 1.30113 level at 00:00 UTC and was dragged by huge sets of pullbacks to reach a bottom low at the 1.29624 level by 07:00 UTC. It shifted to a volatile trend but eventually dropped again later through the day. In today’s early trade, the asset is seen fluctuating on the forex market as the U.S. dollar edged lower in Asia. This could drag the asset towards a downtrend during the trading hours, consider the Long Term tool for today.

JPN225

JPN225

A look at Japan’s Nikkei 225 graph clearly depicts a bearish trend since the index kept losing value throughout yesterday. The U.S. and North Korea geopolitical tensions continue to weigh on equities in Asian trading, this index fell as from 11:00 UTC to reach a low level of 19457 points by 17:00 UTC after several pullbacks on Thursday. Today’s session started off on a bearish note at 00:00 UTC at 19403 points and it is expected to fall further through today.

Things to watch on the market

Tip 1

Consider trading on shares of Alphabet Inc as this can be impacted by the issues the company is facing.

 

Tip 2

It is highly recommended to trade on the Nasdaq index as Snapchat is a component of NASDAQ.

 

Tip 3

Shares of Amazon and Amazon vs Ebay can be traded with TradeReplica, along with currency pairs such as EUR/USD, GBP/USD and AUD/USD.