Round up of today’s market news
North American News North American equity close: The worst first half ever for the Nasdaq Closing changes for the main North American equity markets S&P 500 -38 points or -1.0%…
Commodities versus everything else
Is that the trade right now? I really only see two trades out there: 1) Commodities rally and everything else falls There’s been a decade of under-investment in almost all…
Bears prepare for a new attack on Bitcoin
The local technical picture is rather worrying. Bitcoin was down 3.1% on Tuesday, ending the day around $20.3K, where it is consolidating on Wednesday morning. Ethereum has lost 3.1% in…
Bed, Bath and Beyond highlights the ongoing inventory purge as consumer slow
Shares of BBBY down 21% today Today Bed, Bath & Beyond reported earnings that were well-shy of expectations with year-over-year comps down 24% in store and 21% online. Earnings were…
Round up of today’s market news
North American News The close: Small caps roughed up as quarter-end nears Minimal changes for the main US markets S&P 500 -0.1% Nasdaq – flat Russell 2000 -1.4% DJIA+0.3% S&P/TSX…
Rebounding crude oil gets far away from the bearish side
Demand for crude oil is accelerating – a bullish sign for its prices. What may the current energy market environment say about the black gold’s outlook? A Chinese panda’s appetite…
Rotation from Bitcoin to altcoins?
In the coming days or weeks, the important thing will be the performance of the crypto market capitalization without BTC. Bitcoin gained 3.8% over the past week, ending around $21.4K,…
Bonds shake off another terrible auction
Stocks wobbled on the sale For the second day in a row, bond buyers shunned an auction of Treasuries. Yesterday’s tail in the 10-year sale was the largest since 2010.…
Round up of today’s market news
North American News US stock markets started strong but finished dreadfully Closing changes for the main North American markets S&P 500 -2.0% Nasdaq -3.0% Russell 2000 -1.7% DJIA -1.6% S&P/TSX…
are Cryptocurrencies attracting Buyers?
BTCUSD has failed to gain ground with buyers and remained pegged at the round level of $20K. Bitcoin rallied from $20.5K to $21.6K during the day on Tuesday but later…
Flow models point to US dollar strength into month end
Citi model notes a strong signal We’re in the countdown to month and quarter end at the moment and that means flows trump economic fundamentals in terms of price action.…
Round up of today’s market news
North American News US equities test the lows late then rebound Closing changes in the major North American markets US stocks started higher but were sold aggressively at the open…
Macron overheard at G7: Saudi Arabia and UAE barely have any spare oil capacity
If this is true, oil is headed much higher Part of OPEC’s power is its ability to make markets believe it can control prices. Lately, they’ve been offering hints that…
Bitcoin’s performance points to a weak risk appetite
Bitcoin investors are still talking about buying it on the downside Bitcoin rose 2.9% in the past 24 hours to $20.9K. Ethereum added 5.5% to $1140, while the top 10…
Round up of today’s market news
North American News S&P 500 closes at the highs as last week’s big drop is erased Great rebound for stocks On the day: S&P 500 3.0% Nasdaq +3.2% Russell 2000+3.0%…
A 50 basis point hike in July is back on the table
The Fed may have overplayed its hand The Fed funds market is now pricing in a 29% chance of a 50 basis point hike at the July FOMC meeting, with…
Bitcoin may be near the bottom but not yet ready to rise
Could Bitcoin collapse to $13K this year? The tug of war in Bitcoin near the psychologically important $20K continues. After losing 4.7% to $19.9K on Wednesday, the first cryptocurrency returned…
It’s not just the Fed, action on US inflation action is coming on the political front too
Whether it’s misguided is another question Democrats increasingly look at this chart as a second-derivative on US inflation. It’s Biden’s approval rating: The trend is not his friend and various…
Round up of today’s market news
North American News US stocks rally late to finish at the highs of the day Strong day despite recession worries The argument that rates matter more than economic growth is…
CoinFlex suspends withdrawals
Billed itself as ‘the home of crypto yield’ The fallout from the downfall of the 3AC crypto hedge fund continues to swallow up the industry. CoinFLEX, which bills itself as…