Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
European Stock Exchange Day opened with a mixed trend. In the trading of contracts on US stock market indices, stability is evident.
Shares of Lemonade fell in late trading on Wall Street by about 9% after the digital insurance company released quarterly reports. Lemonade posted second-quarter revenue of $ 28.2 million, higher than analysts’ forecasts but down 5.7% from the same quarter in 2020. In the first half, revenues totaled $ 51.7 million, a decrease of 7.8% compared to the same period last year. The company saw an increase in operating expenses – technology development expenses jumped 233% to $ 14 million in the quarter, administrative and general expenses climbed 172% to $ 15.8 million and marketing and sales expenses increased 106% to $ 33.1 million. The net loss amounted to $ 55.6 million, an increase of 165% compared to the loss in the corresponding quarter. The net loss in the half amounted to $ 105 million, compared to $ 57.5 million in the same period in 2020.
Asian stock markets are trading in a mixed trend today after trading closed on Wall Street in a mixed trend yesterday. Trading in US stock market indices has seen slight gains.
In the commodities arena, a Brent oil contract records a slight rise to $ 70.60 a barrel after a sharp drop yesterday. Gold is trading steadily.
In the crypto market, Bitcoin is trading down about 1% around $ 39,340.
In the macro realm, in England today the central bank is expected to leave interest rates unchanged. In the U.S., initial unemployment benefits are expected to total 382,000 in the past week.