Your Weekly Trading Review by UFX.com – Sunday, December 10th, 2017
These assets kept the market guessing last week.
Gold decreased by -0.38%, ending at $1,248.40. Crude Oil increased by +1.18, closing at $57.36 a barrel.
The DOW Jones ended the week on a high, closing at a value of 24,329.16. The S&P 500 rose in value, closing at a 2,651.50. The NASDAQ went up, as well, ending the week at 6,840.08.
Apple Set To Purchase Music App Shazam
Apple Inc. will be the new owners of music identification app, Shazam, as early as next week. The company responsible for the iPhone is in negotiations with the privately-held, UK-based Shazam, reportedly ready to pay almost $400 million for the highly popular app.
Apple hopes that Shazam will expand its music fan base by providing an easier and more enjoyable way for users to find songs and add them to users’ Apple music playlist. Currently, Apple Music has roughly 27 million subscribers.
Bitcoin Dives after Remarkable Rise
On Friday, the king cryptocurrency Bitcoin, lost a fifth of its value in just 10 hours. This was after rising more than 40% during the previous 48 hours. Last week, the popular digital currency jumped from a value of $16,000 to more than $19,000 in less than 1 hour. By Friday, the value had fallen to under $14,000. Analysts and investors appear worried that the market could be moving towards a price collapse.
Bitcoin is the most popular form of digital currency, created and owned electronically. It is mined by individuals and businesses by using software that solves mathematical problems on computers around the world.
That’s our summary of the financial headlines from the past week. Good luck with this week’s trading and stay tuned for the next review from UFX.com.