One Step Closer to Shanghai, Encouraging Data on Ransomware

The SEC caused a stir yesterday when it erroneously tweeted about approving a Bitcoin ETF post-market close, which was quickly rectified by SEC Chair Gensler, who stated that it had not been approved and the SEC's Twitter account had been hacked. Many thought the tweet was a premature official announcement, but it was confirmed as a security breach. Despite this incident potentially tarnishing the SEC's reputation, it's unlikely to affect...

Equities are attempting to break a three-day losing streak, with the S&P rising 0.7% and the Nasdaq up 1.5% ahead of tomorrow’s jobs report. Economists polled by Dow Jones expect 190k additional jobs added in November, an increase from the prior month. Investors are eagerly awaiting indications that the labor market is settling down, which could reassure the Federal Reserve to stop increasing interest rates. $BTC is beginning to show...

Despite U-Mich sentiment data showing higher forward inflation expectations and reduced consumer confidence, equity indices are rising sharply today. The SPY has risen 1.33%, while the QQQ has gained over 2%. Crypto markets are somewhat mixed today following the confirmation of Blackrock’s spot Ether ETF application. $ETH (-1.34%) is trading firmly above $2k, while $BTC (+1.51%) is holding the $37k level. Ethereum-adjacent tokens are seeing renewed interest from investors amid...