Poseidon Network

$QQQ

$347.95

-0.58%

Markets are falling today as investors begin to get concerned about a debt ceiling resolution. Equity indices continue yesterday’s sharp selloff, with the SPY 9.34%  and QQQ falling by over 0.85%. In crypto markets, BTC -2.79%  (-3.39%) is testing the low $26,000s, while ETH -2.27%  (-3.34%) has dropped below $1800. Cross-chain bridge Multichain was experiencing issues this morning where users complained of stuck transactions. Multichain claims the issues are a result of an...

Equity markets opened the week with mixed results while bonds yields ticked higher as investors eagerly await updates on debt-ceiling negotiations. Relative to last week's close, NDAQ is trading at -0.2%, SPX is flat (+0.1%), while QQQ is changing hands at +0.4%. US02Y and US10Y are up 1% on the day, reflecting the President's and House Speaker's meeting later today in an effort to avoid a technical default. Digital asset...

This morning’s jobless claims were softer than anticipated (242k vs. 254k exp.), potentially giving the Fed room to diverge from the expected “pause” at June’s FOMC meeting. The data release has not disheartened equity investors as the divergence between equities and crypto has continued. The SPY 9.34%  (+0.53%) is approaching $4,200, and the QQQ (+1.24%) surpassed August ’22 highs, while BTC -2.79%  (-0.71%) and ETH -2.27%  (-0.40%) are showing modest declines. Among the...

Markets saw a retracement as retail sales data for April came in lower than expected, triggering fears of weak earnings from retailers. SPX and NDAQ slid 0.3% and 0.6% lower than yesterday's close, while the QQQ continued its ascent from nearly two weeks ago, up 0.5%. Digital asset markets saw a similar decline, with BTC -2.79%  dipping below $27k for the second time in the past month, and ETH -2.27%  trading at...

Equity markets slid lower today as investors await CPI data tomorrow and discussion over the debt ceiling later today. SPX and QQQ are trading at -0.4% and -0.6% relative to yesterday's close after opening lower, whilst DXY and US10Y are up by 0.3% and 0.4% on the day. Digital asset markets are also following suit, with BTC -2.79%  and ETH -2.27%  sliding by 1.5% and 1.0% over the past day. Many have pointed...

Traditional equity indices are under pressure today following yesterday’s 25bps interest rate hike and additional regional bank weakness. The SPY 9.34%  (-0.72%) and QQQ (-0.31%) are approaching last week’s lows, while the DXY (+0.33%) is rising after Fed Chair Powell reiterated his stance that the inflation fight is far from over. BTC -2.79%  and ETH -2.27%  are in line with equities today, falling 0.66% and 0.87%, respectively. Meme coin PEPE has skeptics shaking...

Markets are mixed today following the release of March PCE data which came in slightly above expectations. The SPY 9.34%  (+0.29%) is continuing yesterday’s march upwards, while the QQQ (-0.19%) is down slightly. The market is looking forward to next week’s FOMC meeting, where it's expected the Fed will raise interest rates by another 25 bps. Crypto markets are cooling off after yesterday's large move upward. BTC -2.79%  (-1.38%) is holding above...

Equity indices are falling today amid an action-packed week of corporate earnings. The SPY 9.34%  (-0.81%) is trading just above $410, while the QQQ (-1.03%) is hovering around $313. After reaching its lowest level since November 2021, the VIX 0.49%  (+8.53%) is beginning to rise again. Crypto is in-line with equities as BTC -2.79%  (-0.49%) is trading at $27,300, and ETH -2.27%  (-1.39%) is trying to stay above $1,800. Arbitrum has completed its distribution...

Digital asset markets continue their decline from earlier in the week amidst a broader market correction. SPX (-0.1%) and QQQ (-0.1%) are poised to make weekly losses, while NDAQ (-0.5%) is set to close the week up 2.0%. BTC -2.79%  (-2.3%) is trading at $28k at time of writing after getting rejected from the $30k range on Wednesday. ETH -2.27%  (-3.0%) exhibited a higher beta as it slid below $2k as well....

Digital asset markets continue their run-up from Ethereum's successful Shapella upgrade midweek, while traditional markets stall. BTC -2.79%  (-1%) is holding the 30k level since breaching it on Monday, while ETH -2.27%  (+2.5%) breached $2.1k last evening before dipping right below it at the time of writing. ETHBTC is trading back above the 0.066 level at 0.068 after failing to break down from 0.062. SPX (-0.4%) and QQQ (-0.6%) opened higher before retracing...

March's Producer Price Index (PPI) data showed a downside surprise this morning, coming in at -0.5% MoM versus 0.0% expected and Core PPI at -0.1% MoM versus +0.2% expected. Traditional markets are rallying as the combination of CPI and PPI data has helped ease fears of inflation reaccelerating. The SPY 9.34%  and QQQ have risen 0.83% and 1.49%, respectively, while the DXY (-0.61%) is approaching its 2023 lows. Crypto markets are...