UFX.com Weekly Trading Review: Delta and United end relations with the NRA, Dropbox $500 million IPO

UFX weekly fx market review

Your Weekly Trading Review by UFX.com – Sunday, February 25th, 2018

Here are some of this past week’s leading economic news and events that affected the financial markets:

Delta and United End Relations with the NRA

On Saturday, two major airlines Delta Air Lines Inc. and United Continental Holdings Inc. ended their marketing ties with the National Rifle Association because of last week’s massacre at a Florida high school.

Following the shooting in Parkland, Florida on February 14, survivors of the tragedy have protested for stricter gun policies. Students across the country have walked out of class to demand new laws on the sale of firearms and an end to mass shootings in the U.S.

First National Bank of Omaha, Avis, and Hertz have also severed ties with the gun advocacy group after a demand to boycott the lobbying group became a top trend on Twitter on Friday.

Dropbox Files for $500 Million IPO

Dropbox is one of the leading cloud drive sharing networks. The company competes with technology companies such as Alphabet, Microsoft, and Amazon.  Dropbox has 11 million paid subscribers across 180 countries. Dropbox is the first, and largest Silicon Valley business to be valued at more than $1 billion. In its official filing, the San Francisco-based Company, reported a 2017 revenue of $1.11 billion.

On Friday, the company submitted a $500 million an Initial Public Offering request with the U.S. Securities and Exchange Commission. It plans to have its common stock listed on NASDAQ under the ticker symbol DBX. Usually, the amount of money a company announces it plans to raise in its first IPO filing is a temporary placeholder.

The Weekly Market Round Up

The EUR/USD fell by -0.28%, closing at $1.2295.The GBP/USD increased by +0.11%, closing the week at a £1.3971 exchange rate. Gold fell by -0.18% as of last week’s market close, closing at $1,330.30. Crude Oil rose by +1.24%, closing at $63.55 a barrel. The Dow Jones ended the week with an increase of +1.39%, closing at a value of 25,309.99. The S&P 500 rose by +1.60%, closing at a value of 2,747.30. And lastly, the NASDAQ increased by +1.77%, ending the week at a value point of 7,337.39.

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.

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