Market Update

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 -2.07%  opened higher before retracing back to even, QQQ -3.27%  displayed a similar pattern and is up 0.3%, while NDAQ -0.63%  is trading at a 0.6% relative to Friday's close. Digital asset markets...

After stalling yesterday, traditional equity indices have continued their march upwards, with the ^SPX -2.07%  (+0.86%) surpassing $4,200 and the NDQ (+1.01%) pushing past $14,400. Debt ceiling fears have largely been alleviated as a bill suspending the ceiling passed the House late last night and will now move on to a Senate vote. Crypto markets are not sharing the same optimism as BTC (-1.19%) has dropped back below $27k and ETH -2.75% ...

The crypto market has seen a significant reversal of its weekend rally as investors watchfully anticipate the House vote on the debt ceiling agreement brokered between the White House and the House Speaker. BTC has fallen below the $27k mark, while ETH -2.75%  grapples with maintaining a foothold above $1850, and other altcoins face more considerable downward pressure. Optimism (OP) has seen a roughly 4% decrease in value, hitting its lowest...

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 -2.07%  and QQQ -3.27%  opened 0.5% and 1.1% higher from last week's close before retracing to 0.1% and 0.9% higher, respectively. Treasury yields...

Stocks and crypto rebound after a week of negative price action amid optimism of a potential U.S. debt ceiling deal. The S&P is up 1.2%, while the Nasdaq gained 2.3%. BTC and ETH -2.75%  are up 2.1% over the last day. The top two cryptos are seeing near 5-year lows for supply held on exchanges, indicating optimism and demand from users that want to own and use assets on their respective...

Crypto markets are up slightly today as the majors continue to trade sideways; $ BTC is up 0.26% and ETH -2.75%  is up 0.51%. While most altcoins have had an uneventful day, a few standouts exist. A.I.-related altcoins have been performing exceptionally since Nvidia's stellar performance after reporting earnings yesterday (shooting the stock up over 30%). A.I. coins AGIX, FET -3.15% , and RNDR have risen 10.53%, 3.09%, and 3.72%, respectively. Traditional markets...

Markets are falling today as investors begin to get concerned about a debt ceiling resolution. Equity indices continue yesterday’s sharp selloff, with the SPY -2.07%  and QQQ -3.27%  falling by over 0.85%. In crypto markets, BTC (-3.39%) is testing the low $26,000s, while ETH -2.75%  (-3.34%) has dropped below $1800. Cross-chain bridge Multichain was experiencing issues this morning where users complained of stuck transactions. Multichain claims the issues are a result of an...

Cryptoassets and equities swapped roles today as the crypto market received a significant boost during Asian trading hours (more on this below). BTC reclaimed its position above $27k, while ETH -2.75%  made a strong push toward $1850. Among alts, the performance has been mixed. ETH scaling solutions ARB 0.02% , OP, and IMX all experienced gains of over 2% during the day. Meanwhile, the native token of the decentralized GPU rendering platform, RNDR,...

Equity markets opened the week with mixed results while bonds yields ticked higher as investors eagerly await updates on debt-ceiling negotiations. Relative to last week's close, NDAQ -0.63%  is trading at -0.2%, ^SPX -2.07%  is flat (+0.1%), while QQQ -3.27%  is changing hands at +0.4%. US02Y and US10Y are up 1% on the day, reflecting the President's and House Speaker's meeting later today in an effort to avoid a technical default. Digital asset...

After bleeding lower this morning, crypto markets and gold saw relief immediately following Janet Yellen's statement to bank CEOs that "more mergers may be necessary." At the time of writing, BTC is up 0.12%, ETH -2.75%  is up 0.72%, and gold is up 1.07%. While most altcoins continue to underperform, AI-related coins have been standouts the past few days. AI coins SingularityNET (AGIX) and Fetch. ai (FET -3.15% ) are up 18.49% and...

This morning’s jobless claims were softer than anticipated (242k vs. 254k exp.), potentially giving the Fed room to diverge from the expected “pause” at June’s FOMC meeting. The data release has not disheartened equity investors as the divergence between equities and crypto has continued. The SPY -2.07%  (+0.53%) is approaching $4,200, and the QQQ -3.27%  (+1.24%) surpassed August ’22 highs, while BTC (-0.71%) and ETH -2.75%  (-0.40%) are showing modest declines. Among the...