In the past 24 hours, the cryptocurrency market experienced a 0.75% loss, bringing the total market capitalization to $2.29 trillion. This slight decline follows a trend of synchronised selling that has been prevalent in the market recently. The sentiment index currently stands at 57, indicating greed among investors. This shift towards greed in the market
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The recent selloff that rocked equity markets worldwide is leaving investors in a state of uncertainty. The S&P 500 and Nasdaq Composite have both experienced significant drops, with the Nasdaq recording its first 10% correction since 2022. The sharp decline in both Europe and Asia, especially Japan’s Nikkei index, has raised concerns among market participants.
The Bank of Japan’s upcoming release of its Summary of Opinions on Thursday, August 8, is expected to provide valuable insights into the July monetary policy decision. This summary will shed light on the Board members’ views on the interest rate trajectory, potentially impacting investor sentiment towards the Japanese Yen. A positive outlook on multiple
Warren Buffett’s Berkshire Hathaway has hit a new milestone with a cash pile that reached a record high of $276.9 billion in the last quarter. This significant increase in cash reserves from the previous record of $189 billion set in the first quarter of 2024 has sparked interest and speculation within the financial world. Buffett’s
Richmond Federal Reserve President Thomas Barkin expressed his views on the unexpected weak U.S. jobs data, stating that he is not inclined to alter his monetary policy outlook at this time. Despite acknowledging the softer turn in July hiring data, Barkin emphasized that he does not preemptively judge upcoming meetings. He emphasized the need to
The recent decision by the U.S. Commerce Department to continue classifying Vietnam as a non-market economy country has left Hanoi disappointed. This decision comes despite Vietnam’s efforts to demonstrate economic reforms and seek an upgrade that would reduce anti-dumping duties on its imports. The classification of Vietnam as a non-market economy puts it in the
After the release of the weaker July nonfarm payrolls report, many experts have expressed doubts about the accuracy of the data. The report showed that nonfarm payrolls only increased by 114,000, falling short of economist expectations. Additionally, the unemployment rate unexpectedly ticked up to 4.3%, causing concern among investors and analysts. Some experts have pointed
Warren Buffett’s Berkshire Hathaway is expected to announce that its cash reserve has exceeded $200 billion, surpassing the GDP of Hungary. This record amount comes at a time when Buffett is selling off some of his major holdings in companies like Apple and Bank of America. With Berkshire being a net seller of stocks for
The recent surge in gold prices, reaching a new peak at 2460 USD per troy ounce, can be attributed to multiple factors. One of the main drivers behind this upward trajectory is the growing expectation of a rate cut by the US Federal Reserve. Signals from the Fed’s July meeting, coupled with weaker-than-expected US economic
The recent announcement by Morgan Stanley allowing its financial advisors to offer bitcoin ETFs to eligible clients marks a significant shift in the landscape of wealth management on Wall Street. This move by one of the largest wealth management firms in the world reflects the growing acceptance and adoption of bitcoin by mainstream finance. It
In July of this year, U.S. job growth slowed down more than anticipated. Nonfarm payrolls only increased by 114,000 jobs, following a downwardly revised 179,000 gain in June. This slowdown has raised concerns about the health of the labor market and the possibility of an impending recession. The unemployment rate increased to 4.3% in July,
Investors are facing a challenging time as risk assets are poised for a significant downturn in European and global markets. The recent softer-than-expected ISM report on U.S. manufacturing has sparked worries about the economic outlook. This has caused a shift in sentiment, with optimism over the Federal Reserve’s signals on a September rate cut being