Stripe Advances Crypto Efforts with Avalanche, Friend.Tech Airdrop Set for This Week
Investors will have a lot to digest this week, including various data releases such as consumer confidence, ADP Employment, JOLTS, and non-farm payrolls. Likely more important is the FOMC meeting and Treasury Quarterly Refunding Announcement (QRA), both set for Wednesday. Equities are gaining to start the week with the SPY -1.13% and QQQ 0.19% both up approximately 0.30% as the DXY N/A% (-0.44%) slides after the BOJ intervened to support the Yen against the dollar. Crypto assets are struggling so far today, with BTC 3.23% (-0.51%) briefly falling below $62k before recovering to $62.8k and ETH -2.34% (-2.85%) trading at $3,170 after surpassing $3,350 yesterday. AVAX 0.76% is displaying strength today, rising 3.33% following news of a new partnership with payments giant Stripe.
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MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY -1.13% and QQQ 0.19% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC 3.23% briefly dropping below $62k and ETH -2.34% below $2.5k. Among altcoins, SUI 1.77% is showing...
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MARKET UPDATE The PBoC has announced a fresh package of economic stimulus, weighing a $142 billion injection into top domestic banks and pledging to stabilize the housing and stock markets. Domestically, durable goods data came in better than expected, and GDP met expectations, providing more confidence in the stability of the U.S. economy. Crypto is responding positively to both developments, as BTC 3.23% has gained to $65.3k and ETH -2.34% to $2,650,...
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