(29 JUNE 2020)DAILY MARKET BRIEF 1: Risk-off traders in charge: stocks down, gold up.

<p>Asian stock markets slipped at the weekly open, following a deeply red close in New York after the rising worries of a second wave contagion took a toll on investment sentiment. This time Nasdaq suffered as much as its peers, as the Facebook shares dived 8.32% on news that an increasing number of companies will stop advertisement spending on the social media platform pointing at inappropriate content. These companies include giants such as Starbucks, PepsiCo, and Levi’s. Provided that Facebook earns a big part of its revenues from advertisement – up to $17 billion last quarter only, the latter decision will probably have a dramatic impact on Facebook’s future revenues, hence its stock valuation. In other discouraging company news, Chesapeake Energy, one of America’s leading shale oil extractors, filed for bankruptcy. The coronavirus lockdown has been fatal for the company which has been already struggling with a huge debt burden since years. Chesapeake’s bankruptcy reminded oil stock i</p>