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Your Weekly Trading Review by UFX.com – Sunday, April 22, 2018
Here are some of this past week’s leading economic news and events that affected the financial markets:
Amazon Launches “AWS Blockchain Templates”
Amazon’s web services developed a new technology known as “AWS Blockchain Templates”. The new blockchain templates will make the process of creating projects based on bitcoin and other digital currency technology more efficient and easier. Blockchain removes the need for a third-party intermediary, such as a bank, by quickly creating a permanent, secure record of transactions.
Amazon’s new product currently supports two versions of blockchain technology: Ethereum and the Linux Foundation’s Hyperledger Fabric.
Netflix Earned $3.7Bn in First Quarter
Netflix impressed analysts with its earnings report for the first quarter of 2018. The video streaming company added 7.4 million new subscribers, surpassing the 6.43 million estimate Wall Street analysts were expecting. The streaming giant’s report showed approximately 125 million subscribers, with about 45% of those subscribers coming from the United States. Netflix’s Q1 reported a revenue of $3.7 billion, an impressive figure that also exceeded Wall Street estimation and is 43% greater than what the company earned a year ago. After the release, Netflix’s stock climbed almost 7%, a record high causing NASDAQ to jump by 1%.
Weekly Market Brief
The EUR/USD fell by -0.46%, closing at $1.2288.The GBP/USD decreased by -0.62%, closing the week at a £1.4000 exchange rate. Gold fell by -0.78% as of last week’s market close, closing at $1,338.30. Crude Oil rose by +0.10%, closing at $68.40 a barrel.
The Dow Jones ended the week with a decrease of -0.82%, closing at a value of 24,462.94. The S&P 500 fell by -0.85%, closing at a value of 2,670.14. And lastly, the NASDAQ dropped by -1.27%, ending the week at a value point of 7,146.13.
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.