Market Update
974 Results
On Tuesday, major equity indices saw a decline attributed to global economic concerns, particularly centered around China, and cautionary statements from Fitch regarding further potential downgrades in ratings for U.S. banks. Despite these apprehensions, July's U.S. retail sales data defied expectations, registering a 0.7% monthly increase, surpassing economists' expectations of 0.4%. This outcome underscored the enduring strength of the U.S. consumer. Interestingly, the day witnessed relatively stable rates, which could...
Coca-Cola Debuts NFT Collection on Base, MetaMask Integrates Apple Pay's 1-click Feature
Equities markets wavered higher as bond yields edged closer to decade highs ahead of retail sales data tomorrow. US10Y is currently at 4.20% and is nearing its last highest daily close of 4.24% in Oct '22, while the US02Y is at 4.96%, 0.12% away from its last highest daily close in Mar '23. This translates to a yield curve inversion between the 10 and 2-year of -0.76%, after putting in a...
Equity indices are declining today on higher-than-expected PPI data for July. The SPY -1.74% and QQQ -2.88% have fallen 0.24% and 0.88%, respectively, while U.S. Treasury yields have risen across the board. Crypto markets are faring better, with BTC (+0.17%) trading near $29.5k and ETH -1.22% (+0.12%) hovering around $1,850. Rocket Pool (RPL) has been a strong performer over the last three trading days, rising 11.30% after Coinbase announced a strategic investment in...
Inflation ticked up in July but modest price increases likely deter Fed from raising rates in September. CPI rose 3.2% YoY (vs. 3% in June), while core CPI rose by 4.7% (vs. 4.8% in June). Monthly figures painted a rosier picture, with both core CPI and CPI rising a mild 0.2% in both months. Markets reacted positively on the news at open, with ^SPX -1.74% and QQQ -2.88% both opening higher before retracing...
BTC has retraced 0.8% after briefly trading above $30k. The rally followed comments from Galaxy Digital CEO Mike Novogratz on an earnings call where he hinted at a potential approval of a spot ETF within six months, citing sources at BlackRock and Invesco. ETH -1.22% is also lower 0.3% reaching $1.85k. Crypto Casino and Exchange Rollbitâs RLB gained 50%, entering and outperforming the top 100 after recent updates to its tokenomics...
Major equity indices are sliding today, impacted by disappointing trade data from China overnight. This decline was further compounded by credit downgrades issued by Moody's for multiple regional banks, such as M&T Bank and Pinnacle Financial. These downgrades were attributed to deposit risks, looming recession concerns, and commercial real estate portfolios faltering. As a ripple effect, the DXY has surged by 50 bps in response to these negative headlines. Long-term...
Traditional markets rebound after posting a loss last week as investors look to Thursday's CPI print for clues as to whether the Fed will continue to raise rates. ^SPX -1.74% and QQQ -2.88% are trading at 0.6% and 0.2% higher than Friday's close, while earnings reports are set to roll in for the worst quarter since 2020. Digital asset markets seem to be breaking correlation from traditional markets, with BTC (-0.9%) breaking down...
DoJ Purportedly Contemplates Filing Fraud Charges Against Binance, Egorov Sells More CRV tokens OTC
Equities and bond markets have extended recent losses from increased borrowing by the US. ^SPX -1.74% and QQQ -2.88% retraced by 0.3% and 0.2%, respectively, while the US10Y edges close to November highs at 4.2%. Apart from increased issuance in longer-term treasuries, the rise in bond yields have also been spurred by America's credit downgrade and a decline in corporate profits. BTC and ETH -1.22% have experienced slight gains from yesterday's bearish daily engulfing,...
A proposed increase in long-term treasury issuance coupled with Fitch's downgrade of U.S. government debt has caused upward pressure on long-term rates today, with the U.S. 30-year rate moving to 4.2%, the highest since November of last year. Major equity indices have experienced a concurrent pullback alongside a 15% spike in the VIX. Meanwhile, the DXY has surged to 102.6, reaching its highest level in nearly a month. Among the...
Equity indices are stalling today, with the ^SPX -1.74% and NDQ both falling around 0.30%. The DXY (+0.38%) has continued its strong streak along with U.S. Treasury yields, with the US10Y holding above 4%. Crypto markets are struggling due to concerns about Curve founder Michael Egorovâs huge debt positions and speculation that SBF or Sam Trabucco could be responsible for the BALD rug. BTC (-1.43%) has fallen below $29k and ETH -1.22% ...
Vyper Vulnerability Exposes DeFi Protocols to Hacks, Coinbase Witnesses Memecoin Mania
Traditional markets are flat on July's final trading day, ahead of a busy week of earnings. While ^SPX -1.74% and QQQ -2.88% are flat since open, they are poised for a fifth consecutive month of rises - the longest winning streak for each index since 2021. The jobs report due Friday is also expected to show ongoing strength in the labor market (200k July consensus vs 209k in June). BTC and ETH -1.22% have...
