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Dear Trader:
As Facebook outage has vividly shown, the situation at the markets can turn on a dime. The company’s shares dropped 5% within hours. According to some estimates, Facebook lost $99.75 million in income during the downtime, while Zuckerberg witnessed his net worth sink by more than $6 billion. It is true that such disastrous events are impossible to foresee. Zuckerberg would surely have taken precautions against the outage if he knew about this beforehand. Yet you still need to know about major economic or political events in advance in order to capitalize on trading opportunities they offer. Markets are moved by financial and political events. If you are informed about them ahead of time, you are forearmed against unpleasant changes in the market and will not lose money. Facebook’s battles over privacy issues make its move towards the crypto arena worrisome. Even President Trump voiced out his objections for the first time as President, against the cryptocurrencies and chastised Libra to get a “Bankers license.” BTC, LBA, and FB lost some of their value. BTC/USD dropped from highs above 13,000 to lows below, 11,149 in less than 24 hours while Facebook trembled lightly.

BTC/USD dropped from highs above 13,000 to lows below, 11,149 in less than 24 hours while Facebook trembled lightly.

Next week, expect the following events to affect the markets’ movement:
Earning Reports: The earning season is coming in October, which usually increases market volatility. Expect markets to become more volatile not only next week or in October but also through the end of the year. The information shared by companies during the multi-week reporting season will set the tone for the market for the next several months. Economists predict that the third quarter will be an earning period with more uncertainty than the Q1 and Q2.

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Economic Indicators: Investors are looking at how the rise in delta variant Covid-19 cases has influenced consumer spending and consumer confidence. They are also discussing how the delta variant has affected economic growth at large. Consumer spending and consumer confidence reports will also help understand supply chain issues and rising inflation.
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Geopolitical Developments: China will continue being in focus, considering how much its activities and Evergrande crisis have rattled the markets lately. Along with known issues, such as China’s crackdown on the tech industry and cryptocurrencies, any other geopolitical event can affect US stock prices, especially now, when markets are volatile.

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