14th July 2020 Overnight Market Wrap

14th July 2020 Overnight Market Wrap

 Key Points

  • U.S. stocks opened firmer, before reversing on a huge turnaround in Tesla
  • Tesla stocks fall after a negative analyst report
  • Big Dollar slightly firmer on the day, oil and gold weaker

Bias: Risk neutral


U.S. stocks opened strongly out of the chute overnight, with follow through buying seen in early trade. The upside then stalled and turned hard on a complete change in fortunes for Tesla, which went from up 14+% to down 3% after an analyst report said it was more than 100% overvalued. California also ordered every bar in the state to close on Corona Virus concerns.

The volatility on equities saw the Dollar catch a bid overnight, with safe haven buying the dominant theme across the board.

Oil and gold both finished weaker on the day.


Expect local players to take stock today, which should see most markets trade tight ranges in Asia. The data calendar sees Chinese Trade, U.K. GDP, the German ZEW Index and U.S. CPI.

Trade the global markets with a broker that has integrity, honesty and transparency at its core


This website is owned and operated by the Ox Securities group of companies, which include:
Ox Securities Pty Ltd registered address Level 37, 1 Macquarie Place, Sydney NSW 2000 Australia. AFSL 438402 ACN 163 551 602
Ox Securities Limited (SV) registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St Vincent and the Grenadines
Risk Warning: The information contained on this website is general in nature and does not constitute advice or a recommendation to act upon the information or an offer. The information on this website does not take into account your personal objectives, circumstances, financial situations or needs. You are strongly recommended to seek independent professional advice before opening an account with us and/or acquiring our services/products. Ox Securities Limited (SV) do not accept applications from residents of the United States of America and Australia
Before you decide whether or not to invest any products referred to on this website, being over the counter (OTC) derivatives, it is important for you to read and consider our Financial Services Guide (FSG), Product Disclosure Statement (PDS), and Terms and Conditions (T&C), and ensure that you fully understand the risks involved. Fees, charges and commissions apply. OTC derivatives, including margin foreign exchange contracts and contract for differences, are leveraged products that carry a high level of risk to your capital. Trading is not suitable for everyone. You may incur losses that are substantially greater than your initial investment. You do not own, or have any rights to, the underlying assets which the OTC derivative is referring to. You should only trade with money you can afford to lose. There are also risks associated with online trading including, but not limited to, hardware and/or software failures, and disruptions to communication systems and internet connectivity.

Copyright © OxSecurities 2020. All rights reserved