Today we’re reminded that moods and markets are cyclical as we move from yesterday’s reality check into optimism. Indeed, today’s cliché is ‘Optimism renewed on hopes of a recovery’.
Hong Kong might be losing its special status and the ECB sounds a warning over the sustainability of the euro, but investors see brightness – FTSE 250 mid-caps are on their best run since 2017 as battered stocks cycle into favour. But you’d have to be especially optimistic to think the UK will agree to a two-year Brexit extension.
Social media and tech giants are hogging the headlines. Shares in Twitter and Facebook might have fallen as they tangle with Trump yet big tech players have been on the biggest spending spree since 2015. Instagram is sharing revenue with creators for the first time and Alibaba hunts for a million (!) influencers. People in Thailand, meanwhile, find a crypto alternative to Twitter. We imagine the President of the US deems that ‘very cool’. And did you know that social VR is now a thing?
There’s no stopping the publishing industry, either, as it prepares for the world’s largest book fair, while Cineworld gets more funding as it plans July cinema reopenings. And there’s optimism, too, at The Daily Mail as it weathers the Covid storm.
It’s not all good, of course. Coworking spaces face big questions while iPhone sees its first device security vulnerability for four years. In the UK, scientists say Cummings might really be ruining lockdown and test and trace isn’t up to scratch but don’t worry, ultrasound can change your mind.
The Stream Team