Tesla’s Revenue Surges In First-Half

In its quarterly earnings report, the electric car-maker Tesla revealed its revenues to have doubled but its losses also grew in the three months to June 2017. The company’s revenue is at $2.8 billion, while its losses increased to $336 million. It expects its revenue to rise significantly in the second half of the year. The firm’s shares increase by more than 8 percent in after-hours trading as it rolls out the most affordable car for the mass market. Tesla’s shares gained 52 percent since the beginning of 2017 as investors anticipated the launch of its first car for a more mainstream consumer.

source:BBC News, www.tesla.com

A panoply of events are due in the U.K. today, starting with the Bank of England which will communicate its interest rate decision at 11:00 GMT and also present its Monetary Policy Committee (MPC) meeting minutes, the same hour. Immediately after, Mark Carney, the governor of the Central Bank of England is set to deliver a speech at 11:30 GMT and his comments could influence the trend of the U.K. currency.

The U.S., on the other hand, will report its ISM Manufacturing PMI for the month of July at 14:00 GMT. Yesterday, the Dow Jones Industrial Average notched a new record high, breaking the 22,000 barrier for the first time ever, boosted by the rise in Apple shares. Other companies such as Boeing and McDonald’s also contributed to making the Wall Street index achieve new heights. Meanwhile, the Nasdaq Composite closed flat at 6,362.65 points and the S&P 500 gained 1.22 points to 2,477.57 points.

Technical Analysis

SPX 500

SPX 500P

After the release of Apple’s earnings report, the S&P 500 traded with much volatility on the market. On Wednesday, it recorded a huge fall as from the 2473.5 level around 14:00 UTC to reach the 2466.2 level, the same hour and it even ended its session on a bearish note. The index is seen fluctuating in today’s early trading hours but it could eventually move towards a downtrend as it is seen moving beneath the Ichimoku Cloud indicator.

EUR/USD

EUR/USD

In yesterday’s early trading hours, the EUR/USD pair picked up a bullish trend on the forex market. It recorded several momentary jumps as from 13:00 UTC at $1.18247 to close this uptrend by 17:00 UTC at $1.18831. Today, the asset continues to climb from the very beginning of its session, it was quoted up at the 1.18463 level around 04:00 UTC. It could rise further, consider the FX/CFD Trading and set your investment and take profit rate.

USOIL

USOIL

Crude oil dips on high OPEC supplies in Thursday’s session even though there is strong demand in the U.S. that uplifted prices. The U.S. West Texas Intermediate was quoted at its highest level for yesterday at the $49.59 level around 18:00 UTC, below the $50 per barrel despite record gasoline demand of 9.84m barrels per day last week. The commodity traded with much volatility in today’s session, but it is seen nearing towards a downtrend.

Things to watch on the market

Tip 1

Shares of Tesla Motors can be traded with the TradeReplica tool.

 

Tip 2

Pertaining to economic events due today, investors are advised to trade on assets such as the EUR/GBP, GBP/USD, along with the FTSE MIB F-JUN17 index.

 

Tip 3

The U.S. dollar, the dollar index and Wall Street indices should not be missed as these assets could gain momentum.