Market Update
1,006 Results
MARKET UPDATE Risk assets are selling off following the release of Non-Farm Payrolls data this morning, showing 142k payrolls added in August compared to 165k expected, along with June and July numbers being revised sharply lower. The data has fueled recession fears while also sparking uncertainty over the Fed’s policy path and whether they will cut rates by 50bps or 25bps this month. Markets are currently leaning towards 25bps, assigning...
HNT Strength Persists Following $200k Burn, Broder Crypto Market Falls on Mixed Econ Data
CRYPTO MARKET UPDATE Jobless claims came in consistent with recent trends, while the ADP report fell well below market expectations, posting 99k jobs versus the 145k expected. Meanwhile, the ISM Services PMI showed another expansionary figure this month, continuing its divergence from ISM Manufacturing PMI. This initially provided a bounce in yields and risk assets, but over the past few hours, yields have started to roll over again while major...
MARKET UPDATE U.S. TREASURY YIELDS ARE DROPPING FOLLOWING SOFTER-THAN-EXPECTED JOLTS DATA, SHOWING 7.67 MILLION JOB OPENINGS IN JULY VERSUS 8.1 MILLION EXPECTED. The US10Y has fallen below 3.8%, with the 10Y-2Y spread briefly un-inverting. Equities are flat on the day, with the SPY -2.03% and QQQ -3.15% increasing less than 0.1%. Crypto is showing relative strength, with BTC 1.32% rebounding to $58.3k after reaching a low of $55.5k last night. ETH 1.33% is gaining...
CRYPTO MARKET UPDATE September is off to a bumpy start for markets. The ISM manufacturing PMI came in at a contractionary 47.2, below the expected 47.9, pushing treasuries higher while equities and crypto dipped. Defensive sectors are leading equities as the price action clearly signals a shift to risk-off sentiment. This week is pivotal, with key data releases including JOLTs job openings on Wednesday and the Non-Farm Payrolls (NFP) and...
MARKET UPDATE U.S. EQUITIES ARE RELATIVELY FLAT ON THE FINAL DAY OF TRADING FOR AUGUST, WITH THE ^SPX -2.03% OSCILLATING AROUND $5,600 AND THE NDQ TRADING NEAR $19,400. Rates and the dollar are gaining today despite PCE and Consumer Confidence data providing more assurance that inflation is receding. Crypto is underperforming, with BTC 1.32% falling to $58.5k and ETH 1.33% at $2,450, as ETF flows and spot volumes have been muted this week....
CRYPTO MARKET UPDATE In stark contrast to the recent BLS job number revisions, the government revised its Q2 GDP estimate higher this morning to 3%, leading to a jump in rates and the DXY. However, this data also apparently boosted confidence in the soft landing trade, as rate-sensitive indices like IWM are outpacing ^SPX -2.03% and QQQ -3.15% . Chip-adjacent stocks are also performing well, spurred by another earnings beat from NVDA -4.30% , benefiting...
MARKET UPDATE U.S. EQUITIES ARE DECLINING AHEAD OF NVIDIA EARNINGS LATER TODAY, WITH THE SPY -2.03% DECREASING TO $558.53, WHILE THE NVIDIA-HEAVY QQQ -3.15% HAS DROPPED TO $472.20. The crypto market has suffered from large amounts of liquidations over the last 24 hours, totaling over $355 million as yesterday evening, BTC 1.32% fell swiftly from $62k down to $58k while ETH 1.33% made a similar move, falling from $2.6k to $2.4k in less than...
CRYPTO MARKET UPDATE Despite a $200 million inflow into BTC ETFs yesterday, crypto prices have declined over the past 24 hours. BTC 1.32% has fallen back below $62K, ETH 1.33% is under $2,600, and SOL 1.48% is just below $155. Only a few coins are in the green today, including TON -13.46% , rebounding from its recent selloff, MKR -1.01% , following its major rebrand announcement, and STX -0.83% , likely benefiting from the ongoing activation of the Nakamoto...
MARKET UPDATE CRYPTO MARKETS EXTENDED LAST WEEK’S RALLY OVER THE WEEKEND, WITH BTC 1.32% BRIEFLY RISING ABOVE $65K AND ETH 1.33% ABOVE $2.8K. They have trimmed some of their gains, with Bitcoin trading at $63.3k and Ethereum slightly above $2.7k. AI-related tokens have been outperforming ahead of Nvidia earnings set for this Wednesday. FET 2.94% , RNDR, and AKT 4.78% have gained 69%, 38%, and 25%, respectively over the last seven days. U.S. equities are...
CRYPTO MARKET UPDATE Risk assets are surging following Fed Chair Jerome Powell's dovish pivot at Jackson Hole, signaling a shift in policy aimed at addressing potential weaknesses in the job market through rate cuts. The DXY has dropped significantly, reaching a new year-to-date low and approaching the 100 mark. Cryptoassets are rallying, with BTC 1.32% nearing $62,000 as it works to break through its 50-day moving average, which has provided significant...
MARKET UPDATE U.S. EQUITIES ARE DECLINING AS INVESTORS DERISK AHEAD OF TOMORROW’S SPEECH FROM FED CHAIR POWELL AT THE JACKSON HOLE ECONOMIC SYMPOSIUM, EXPECTED AT 10 AM EST. The SPY -2.03% has declined to $555, and the QQQ -3.15% to just below $475. Crypto rallied yesterday afternoon after it was reported that, if elected, Kamala Harris will support policies that ensure technologies like digital assets can continue to grow. BTC 1.32% rallied to...
CRYPTO MARKET UPDATE This morning's big news came from the BLS, which revised payrolls down by 818k for the 12 months ending in March. In response, the DXY turned negative as yields fell and market confidence in upcoming Fed cuts grew. Price action continues to suggest that the market views a soft landing as possible, with risk assets rallying in tandem with Treasuries. BTC 1.32% spiked to $60k following the U.S....
