S&P +ve this year, UK pubs reopen in fortnight & Tesla record close – By Jasper Lawler, Head of Research

S&P +ve this year, UK pubs reopen in fortnight & Tesla record close

06:51am BST | June 9th 2020

S&P 500 turns positive for the year

GBP/USD BREAKOUT: UK pubs reopen June 22 serving outdoors

NZD/USD reaches 4-month high with New Zealand ‘virus free’

Tesla shares reach new record close

Inspiration“It’s not what we do once in a while that shapes our lives. It’s what we do consistently.” – Tony Robbins

Opening Calls

FTSE 100 to open 8 points higher at 6480 DAX to open to open 47 points higher at 12,866 Dow to open 34 points lower at 27,538

Asian equities were mostly firmer on Tuesday with Japan the only exception, pulled down by a stronger yen. Shares in Europe look set for a positive start on Tuesday ahead of the latest Q1 Eurozone GDP reading as well as trade data from France and Germany. Futures point to a weaker open on Wall Street on the first day of the Fed’s two-day monetary policy meeting.

S&P 500 turns postive

US stock markets look to have turned into FOMO-mode now. Investors and money managers who missed the rebound are scrambling to get into the action. Some of the riskiest shares like airlines are now outperforming under the ‘reopening trade’. Boeing was top risers on the Dow. At the same time some of the ‘coronavirus trades’ like Netflix are underperforming. With 1000s retuning to work in hard-hit places like New York City, investors are looking to the other side of the pandemic. Among the top gainers were Tesla shares, which reached a new closing high.  

Share performance in Europe has been lacklustre by comparison. Initial optimism about the new stimulus introduced in Europe has given way to unease about a possible institutional fist fight between the ECB and the German Constitutional Court.


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NZD: New Zealand virus-free

The New Zealand dollar (NZD/USD) hit a new 4-month high on Tuesday after New Zealand ended all social distancing measures, saying it had eradicated COVID-19 in the country. The only thing that remains is its closed border. The Aussie dollar joined in the regional gains, touching a 10-month high.

GBP: Pubs reopening June22

It sounds almost facetious to say the British pound has risen to a near 3-month high as British pubs get set to reopen. Clearly other factors at play; hopes for a compromise on trade with the EU and weakness in the US dollar. But reopening pubs is a huge deal for the UK. The pound had been lagging over the last two months, in part over the severity of the coronavirus outbreak in the UK versus some other parts of Europe like Germany. Pubs symbolise a return to normal life in the UK and will play a huge role in returning consumer confidence to pre-pandemic levels as soon as possible.


TSLA shares have been among those driving the gains in the Nasdaq- having reached a record close on Monday. A New All-time high above 968.85 then $1000 per share are potential upside targets

Kind Regards,
Jasper Lawler Head of Research
Financial Markets and Political Commentary


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About the author

Jasper delivers regular commentary, seminars and webinars on market news, trading analysis, strategy and psychology. He is regularly interviewed by BBC News, Bloomberg, CNBC and Sky News, and has featured in The Times, Guardian and Daily Telegraph. Jasper hosts a weekly charting analysis webinar. He is qualified as a Chartered Market Technician (CMT) with the Market Technician Association, and has a degree in Finance and Economics.