Poseidon Network

$QQQ

Crypto markets are sharply rising after a judge has ruled that Ripple’s sales of $XRP do not constitute an offer of investment contracts. $XRP is up 35% following the announcement, and $BTC (+2.41%) has surpassed $31k and $ETH (+3.46%) is nearing $1,950. $MATIC (+9.80%) is outperforming today after a proposal was submitted to make MATIC a multipurpose token used to validate multiple blockchains. The proposal would have the token rebranded...

Equity indices are relatively flat to start this week’s trading, with the $SPY gaining 0.11% and $QQQ declining 0.21%. Small-cap technology stocks are outperforming today as the Nasdaq 100 has announced a “special rebalance” effective July 24th due to an overconcentration in the index. The rebalance will not add or remove any securities from the index and will redistribute the weightings. Crypto markets are showing minor gains, with both $BTC...

After a sharp downward move in equity indices following a blowout ADP report, the $SPY (+0.64%) and $QQQ (+0.74%) have stabilized in Friday’s trading, as the US nonfarm payrolls report showed 209k jobs added in June versus 230k expected. Crypto markets have shaken off negative headlines regarding key Binance executives exiting the firm amid claims they did not support Changpeng Zhao’s (CZ) response to an ongoing DOJ investigation. CZ addressed...

Traditional indices are mixed today following stronger than expected economic data. The $SPY and $QQQ are trading +0.26% and -0.35%, respectively. The US Dollar and US Treasury yields have rallied today as the strong economic data reinforces the higher-for-longer mantra regarding US interest rates. All eyes will be on the May PCE data release tomorrow, which should give investors a better view into the ongoing inflation fight. After dipping yesterday,...

After three consecutive days of declines, traditional indices are rebounding, with the $SPY and $QQQ rising 0.10% and 0.61%, respectively. In contrast, after three days of sharp gains, $BTC (-0.22%) and $ETH (-0.57%) have cooled off. The emergence of multiple Bitcoin spot ETF applications from reputable financial institutions has sparked a Bitcoin-led rally, with Bitcoin dominance ($BTC.D) rising to 51.34%, its highest level since April 2021. Despite Bitcoin outperforming most...

Equity markets pulled back today amidst doubts about the global economy, stalling the recent rally that has seen equities de-couple from crypto. US Housing in both single and multi-family projects came in far higher than expected, China experienced trimmed loan prime rates for households and businesses (4.3% --> 4.2%) but whether it is sufficient to bolster its economic recovery remains to be seen, while US10Y slipped to 3.756% from 3.768% on...

Today’s busy news day kicked off earlier this morning with the release of the latest Producer Price Index. Data came in below expectations at MoM and YoY, likely cementing a pause in interest rate hikes at today’s FOMC meeting. Traditional indices are up slightly in anticipation of the 2:00 PM decision, with the $SPY (+0.27%) and $QQQ (+0.31%) at 2023 highs. $BTC (+0.29%) and $ETH (+0.15%) are rising in a...

Equities are continuing their tear on the back of today's CPI release. The $SPX and $QQQ are both trading approximately 80 bps higher. Interestingly, materials and energy are leading the market, suggesting a broadening of the emergent bull market. Crypto continues to track more closely with gold than equities, with $BTC and $ETH flat over the last 24 hours. Altcoins received an early bid after the release of the highly...

Equity markets edged higher ahead of a key week where investors await key inflation data and the Federal Reserve's interest rate decision. May's CPI data comes out tomorrow, while the next FOMC meeting is on Wednesday. $SPX and $QQQ are trading 0.2% and 0.5% higher than Friday's close, while $NDAQ is down ~11% after announcing a $10.5b acquisition of Adenza, a software provider for banks and brokerages in a cash-and-stock deal....

Global markets find their footing after last Friday's rally originating from a hot May jobs report. With the debt ceiling resolved and earnings seasons concluding, investors are honing in on the Fed's meeting next week for guidance on what's next. $SPX opened higher before retracing back to even, $QQQ displayed a similar pattern and is up 0.3%, while $NDAQ is trading at a 0.6% relative to Friday's close. Digital asset markets...

After showing gains in after-hours trading, markets retraced on the first trading day after Memorial Day Weekend. President Biden and House Speaker McCarthy struck a tentative deal to raise the U.S. debt ceiling, although markets are ambivalent on whether it can be implemented by the June 5th deadline. $SPX and $QQQ opened 0.5% and 1.1% higher from last week's close before retracing to 0.1% and 0.9% higher, respectively. Treasury yields...