A crucial week of labor market data will greet investors during a holiday-shortened trading week that begins the month of July, the third quarter, and second half of 2024. The S&P 500 (^GSPC) enters Q3 up 14.5% so far this year, while the Nasdaq Composite (^IXIC) rallied more than 18%. The Dow Jones Industrial Average […]
The Bank for International Settlements warned on Sunday that rising government debt levels amid a number of major elections this year could roil global financial markets. Dubbed the central bankers’ central bank, the BIS said the world economy was on course for the “smooth landing” that many economists doubted when interest rates shot up, but […]
According to market data, crypto assets struggled throughout June, with only a select few recording gains. The largest gainer was the meme coin brett (BRETT), which surged 64.9%, while the biggest loser was the meme token maga (TRUMP), plummeting 55.29%. Select Coins Rise Despite Overall Decline This Month June was predominantly bearish for cryptocurrencies, with few coins […]
Bitcoin upped volatility on June 30 as traders prepared for “interesting” BTC price moves. Bitcoin bids at the ready below $60,000 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit intraday highs of $61,668 on Bitstamp. The pair recovered from local lows of $59,950 the day prior, these marking a fresh dip below the key $60,000 […]
Overall, June 2024 financial market conditions showcased significant market stabilization for the global economy. The World Bank’s projection of a 2.6% growth rate for the year signals the first steady market expansion and stabilization period in over three years. This comes despite various uncertainties and adjustments in the market following COVID-19 pandemic disruptions. Market indices […]
One group of health insurance stocks appeared to be rallying on the notion that President Joe Biden’s poor debate performance on Thursday night would bring another term for former President Donald Trump. RBC analyst Ben Hendrix chalks up Friday’s rally in Medicare Advantage stocks on the thesis that “a second Trump term would ease regulatory […]
On June 28, Bitcoin mining company Bitdeer announced it entered into a 30-year leasing agreement with the Monroe County Port Authority for a site located at the Hannibal Industrial Park in Clarington, Ohio. According to the company’s announcement, the site previously featured an aluminum factory and has the necessary power infrastructure to host Bitdeer’s mining […]
Investors’ risk appetite tends to increase with a lower cost of capital and higher liquidity, creating a favorable scenario for high-growth assets. Consequently, Bitcoin and other cryptocurrencies often benefit from such conditions, as more money in circulation typically boosts demand. However, if United States inflation appears to be under control, why isn’t the cryptocurrency market […]
The affordability crisis that has plagued the U.S. housing market for the last three years is unlikely to improve until at least 2026, according to new findings published by Bank of America. “The U.S. housing market is stuck, and we are not convinced it will become unstuck anytime soon,” Bank of America economists Michael Gapen […]
The S&P 500 eked out a small gain Wednesday as investors evaluated their holdings following a booming first half of the year led by artificial intelligence plays. The broad market index ended the day up 8.60 points, or 0.16%, to close at 5,477.90. The Dow Jones Industrial Average added 15.64 points, or 0.04%, to end at 39,127.80. Meanwhile, the […]
Bitcoin’s price has experienced mounting sell-side pressure, causing it to shed more than 5.5% over the last seven days and setting a six-week low at $58,400 on June 25. During this sell-off, BTC dropped below its short-term cost basis, risking a deeper correction, according to market intelligence firm Glassnode. “Since mid-June, the spot price has plunged […]
Bitcoin (BTC) fell back towards $60,000 on Wednesday, after a wallet tagged to the U.S. Government moved about $240 million worth of seized BTC to a Coinbase Prime address, igniting concerns among traders that the digital assets will likely to be sold. Some 3,940 bitcoin originally seized from a Silk Road vendor was moved by the the […]
