Live Stock Market Updates 10/07 – American Airlines Threatens to Cancel Boeing Orders

As it happens:

Latest16:36
European Equities Final Look

Hee is our last look at the markets before the weekend…

FTSE 100  +0.78%  6,096

DAX  +1.09%  12,625

EURO STOXX 50  +1.01%  3,294

Risk is back on after yesterday’s fall! US equities are mainly moving higher as well, although the Nasdaq is slightly down by -0.02%. The Dow Jones is up 0.68%, while the S&P 5oo is up 0.35%.

In FX the EURUSD is up on the day, trading at 1.1314, while cable (GBPUSD) is also up at 1.2648.

Have a great weekend, traders!

 

15:24
Rivian

Seeing as electric vehicle companies are all the rage right now, let’s give you some news on one that isn’t (yet) publicly-traded…

A report from CNBC states that:

• Rivian is expected to be amongst the first to bring an all-electric pickup to market early next year
• They have no plans on going public at this time but maybe “open” to additional financing
• Last year they raised $2.85 billion from companies such as Amazon, T.Rowe Price Associates, Cox Automotive and Ford

 

15:02
Boeing/American Airlines

American Airlines has threatened to cancel some Boeing 737 Max orders according to sources.

American Airlines is currently trading at $11.36 +1.52%.

Boeing is at $172.80 -0.28%.

Also, on another note, I can’t believe I missed the opportunity for a Beyond meat pun!

14:59
Beyond Meat $BYND

Beyond Meat’s share price has fallen 6% after Citigroup initiated a sell. They said they see margin pressure on the company due to high operating costs.

 

14:39
US Markets

The US markets have opened up, so let’s take a look at how they are performing…

Dow Jones  +0.29%  25,781

S&P 500  +0.15%  3,156

Nasdaq  -0.35%  10,510

12:51
European Equity Markets

Let’s take our customary lunchtime look at how the European Markets are performing so far…

FTSE 100  +0.46%  6,077

DAX  +0.38%  12,536

EURO STOXX 50  +0.40%  3,274

A slight turn around after yesterday’s fall.

The EURUSD is currently trading at 1.1285 after touching the 1.13 level briefly, while the GBPUSD is at 1.2597. Both pairs are seeing pullbacks after beginning to move higher this morning.

11:40
Biggest European Stock Movers

It’s a bit of a slow news day on the stocks front, but here are some of the biggest gainers so far in Europe…

• Eurasia Mining +37%
• SRT Marine Systems + 25%
• Global Fashion Group + 19%
• Devoteam +25%

 

08:45
European Equity Markets

Here is our first look at some of the European indices this morning…

FTSE 100  -0.39%  6,026

DAX  -0.27%  12,455

EURO STOXX 50  -0.24%  3,253

The EURUSD is trading at 1.1276 after initially moving lower in early morning trading but now seeming to turn around somewhat. The GBPUSD has done much the same, currently trading at 1.2593.

Will the spike in coronavirus cases globally continue to impact risk?

07:33
Morning Preview

Good morning traders and happy Friday! Let’s take a look at what’s been happening in the Asia trading session…

• Asian markets moved lower following yesterdays risk-off session in Europe and the US. The ASX closed -0.4% while the Nikkei closed -0.7%
• Chinese shares took a small hit when two state-backed funds said they plan to offload large-cap stocks
• In the US we saw coronavirus cases reach record numbers again, while Hong Kong and Australia saw rises in cases
• Elsewhere, in FX markets the US dollar and Japanese yen continue to make gains as risk-off. flows continue
• Looking at today’s calendar we have the US PPI’s for June, Canada unemployment data, and EU finance ministers will be meeting.

I’ll be back shortly with an update on European indices….