Closing Bell (February 8, 2021) – Musk’s Tesla sent Bitcoin to new highs

Overseas stock markets opened a new trading week in the green and pushed their historical highs to a wave of optimism. Under growing expectations, the approval of a new fiscal stimulus strengthened sectors in particular energy and finance. By logic, the pace would accelerate vaccination
should lead to faster opening of economies and thus to support demand for
energies.

American price WTI crude oil today it ascribed over 2% and has reached the psychological level of 60 USD for
barrel. The supplier Marathon Oil Corporation (MRO), Apache Corporation (WHAT) a
Occidental Petroleum Corporation (OXY) rose sharply by more than 9%. The energy sector was dragging up as well shares society Exxon Mobil (XOM), which received an increased recommendation from BNP Paris with reference to the company’s planned cost reduction. Finance
They also belonged to the most profitable sectors though shares Banks strengthened under yield growth in the US government bonds in anticipation of Joe’s fiscal expansion
Biden in the volume of 1.9 trillion dollars. Shares Bank of America (BAC), Goldman
Sachs Group (GS), Citigroup (C) attributed more than 2%. Title JPMorgan Chase (JPM) added 1%.

The most famous kryptoměna of the world,
Bitcoin, today strengthened by more than 14% during the day to a record high after the announcement Teslythat it invested 1.5 billion in this cyber currency last month dollars. CEO of the company Tesla Elon Musk first asked Michael Strlor, CEO of Microstrategy, about the big transactions in December. Saylor at the time encouraged Musk to allocate cash from Tesly do
BTC and did a kindness to his shareholders. The company stated that BTC
bought for “more flexibility to further diversify and maximize our cash returns”. In addition to shopping BTC Tesla expects to start receiving Bitcoin
as a method of payment for their products “in the near future, in accordance with applicable
laws and initially to a limited extent, which we may or may not dispose of upon receipt. ”This would Tesla became the first major manufacturer carswhich accepts the primary kryptoměnu as payment. The move has raised immediate questions about CEO Elon Musk’s behavior on Twitter in recent weeks, where he has indirectly helped raise prices. kryptoměn, as Bitcoin (BTC) and Dogecoin (DOGE), by publishing positive reports. Company Tesla (TSLA) closed the session with 1% growth.

Treasury Secretary Janet Yellen, citing 779 tis. applications for support in unemployment reported last week in interviews for CNN stressed the need for a large and rapid fiscal stimulus. In the US, the number of cases has slowed from 235 to 87 tis. To date, more than forty-two million have been filed at today’s trading session benefits vaccines.

Company Hasbro (HAS) fell by almost 3% when it did not reach estimates in its fourth quarter economic report. Shares Hershey chocolate (HSY) attributed 1% growth below the end-of-profit reports year 2020. In the sector technologies Apple (AAPL) weakened after reports that the company had suspended talks with Hyundai and Kia over plans to develop an electric vehicle.

The expected economic reports of the week will be presented by the companies Cisco Systems (CSCO), Twitter (TWTR),
General Motors (GM), Pepsi (PEP), Coke (KO), AstraZeneca (AZN) to Walt Disney (DIS).

Ing. Libor Stoklásek, MBA
Imperial Finance