Last Week Risers & Fallers:
- Dow Jones (DJI) – The DJI index rose by 0.10% on Friday; the rally was mainly fueled by Tesla and Facebook. The index closed at $37,798 on Friday.
- Tesla (NASDAQ: TSLA) – Tesla stocks broke out of the buy point, gaining 2.75% on Friday. News around Tesla is that they released the FSD Beta request button, letting full-self driving owners or subscribers opt-in after a seven-day waiting period. Tesla stock was trading at $774.39 per share at the close on Friday.
- Nike Inc. (NYSE: NKE) – Nike shares dropped by 6.3% after they reported a weaker sales forecast as well as delays during the upcoming holiday season. Nike closed at $149.59 on Friday.
- EURUSD – EURUSD declined by 0.25% on Friday. The pair has been showing a choppy trend lately from a technical perspective. The price is currently at 1.17, which is a support level. There is no clear direction of where the pair is headed.
Major events to watch:
- Australia (AUD): Retail Sales (MoM) – Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the leading indicator of consumer spending, which accounts for the majority of overall economic activity. Last month’s number was -2.7% which was flat.
The report is due Tuesday 28 September at 03:30 GMT+2
- EUR (EURO): German Unemployment change – German Unemployment Change measures the change in the number of unemployed people during the previous month. The last reported number was -53,000, which was better than the forecasted -40,000.
The report is due Thursday, 30 September at 09:55 GMT+2
- USA (USD): GDP (QoQ) – Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. The last reported GDP on 26 August was 6.6%, which was lower than the forecast of 6.7%.
The GDP report is due Thursday, 30 September at 14:30 GMT+2
