The cryptocurrency market experienced a 0.75% loss in a 24-hour period, bringing its total market value down to $2.29 trillion. This decline follows a day of mixed performance, with cryptocurrencies slipping while equities showed positivity on Wednesday. However, Thursday saw a wave of synchronized selling across the board. This bearish sentiment is reflected in the
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The US Dollar (USD) took a significant hit following the release of the disappointing July jobs report, leading to increased speculation about a rate cut by the Federal Reserve in September. The DXY index, which measures the strength of the USD, plummeted to lows not seen since March, hovering around 103.20. This downward trend reflects
In the current global market scenario, investors are facing a significant amount of volatility as concerns arise about the overvaluation of stocks. Despite a relatively strong earnings season, the market sentiments remain uneasy. Central banks around the world have started cutting interest rates, which has resulted in a rally in stocks, cryptocurrencies, and bonds. However,
As fears of a potential recession loom over the global economy, major share indices in Asia took a significant hit on Monday. This downward trend was sparked by concerns that the United States may be on the brink of an economic downturn, leading to a surge in risk aversion among investors. The Nasdaq futures plunged
The recent selloff that reverberated throughout global equity markets has left investors cautiously eyeing potential opportunities to buy stocks at lower prices. With the S&P 500 and Nasdaq Composite experiencing notable declines, concerns about the U.S. economy and disappointing tech earnings have cast a shadow over the investment landscape. The Japanese Nikkei index notably lost
The Bank of Japan is set to release its Summary of Opinions on Thursday, August 8th. This summary will provide investors with a deeper understanding of the July monetary policy decision and the perspectives of the Board members regarding the interest rate trajectory. It is expected that support for multiple interest rate hikes could potentially
In the last quarter, Berkshire Hathaway’s cash pile reached a record high of $276.9 billion, marking a significant increase from the previous record of $189 billion set in the first quarter of 2024. This surge in cash reserves was primarily driven by Warren Buffett’s decision to offload large portions of stock holdings, with Apple being
The decision by the U.S. Commerce Department to continue classifying Vietnam as a non-market economy country has left Hanoi disappointed. Vietnam has been eager for an upgrade that would reduce the anti-dumping duties imposed on countries with heavy state influence, such as itself. This classification puts Vietnam in the same category as China, Russia, North
After the release of unexpectedly weak U.S. jobs data, Richmond Federal Reserve President Thomas Barkin made it clear that he was not ready to change his monetary policy outlook. He acknowledged that the job growth was weaker than expected, but emphasized that he does not try to prejudge meetings or provide guidance on rate cuts.
The weaker than expected July nonfarm payrolls report sent shockwaves through the market, causing many to fear the worst and anticipate aggressive rate cuts from the Federal Reserve. With nonfarm payrolls only increasing by 114,000, missing the expected 179,000, and the unexpected rise in unemployment to 4.3%, it seemed like a grim outlook for the
In a groundbreaking move, Morgan Stanley has announced that it will allow its financial advisors to offer bitcoin ETFs to select clients. This decision marks a significant shift in the world of wealth management, as it makes Morgan Stanley the first major Wall Street bank to take such a bold step. With approximately 15,000 financial
The price of gold (XAUUSD) has been steadily climbing, reaching a new peak at 2460 USD per troy ounce on Friday. This surge in gold prices can be attributed to a combination of factors, with one of the main drivers being the growing expectations of a potential interest rate cut by the US Federal Reserve.