117 total views
2022-10-27 13:25:49
Market situation
The consumer price index rose 8.5% in July from a year ago. This CPI was lower than expected. Inflation slowed down from the previous month largely due to lower gasoline prices.
Core CPI excluding food and energy prices rose 5.9% YoY and 0.3% Monthly. The index was also lower than estimates of 6.1% and 0.5%, respectively. Another good news is that the real wages of workers also increased by 0.5% monthly.
The market reacts well to the CPI information. Stocks had a good session, Dow Jones gained 1.63%, S&P 500 gained 2.13% and Nasdaq was almost nothing compared to the previous day. Oil price is at 91.84 USD/barrel. Gold fell 0.63% to around 1802 USD/ounce.
Bitcoin has surged past $24,000. Major altcoins are also up slightly, CEL has a significant increase of 31% in 24 hours as many are expecting a Short Squeeze with Celsius shares.
Although the CPI fell and was lower than estimated, it was not enough for the Fed to stop raising interest rates. Chicago Fed President Charles Evans said it was likely the Fed would continue to raise interest rates aggressively, despite positive July inflation data. Minneapolis Fed President Kashkari expects the Fed’s interest rate to rise to nearly 4% by the end of the year and close to 4.5% by the end of 2023. The falling CPI data and strong jobs report from last week haven’t changed. change his prediction rate.
The next big company Disney had a good second quarter. Disney posted better-than-expected results by increasing spending at domestic theme parks. The company reported that total Disney+ subscriptions grew to 152.1 million in the quarter, higher than the 147 million analysts had predicted. However, Disney’s streaming services lost $1.1 billion in the last quarter. The company also lowered its longer-term forecast for Disney+ to 215 million to 245 million subscribers.
Investors need to believe and uphold their principles
Schwab Asset Management released the Schwab Crypto Thematic ETF (STCE) this month in response to investor demand. The company also said that, currently, the demand for investing in crypto by investors is great, but the US has not yet approved any Bitcoin ETF. So they created the STCE fund of crypto-related companies such as MicroStrategy, Marathon Digital, Riot Blockchain, Coinbase, Silvergate Capital, Robinhood and Interactive Brokers that have a stake in the fund, unlike related thematic products. to other cryptocurrencies.
Schwab launched the STCE investment fund at this time because of high customer demand, not a falling market. They believe that the crypto investment segment will grow in the long run. Bitcoin has been around for more than 10 years, growing and getting stronger every day. It can be seen that many companies, investment organizations or individuals are still very interested in the crypto market.
Because of the long-term belief in the development of crypto, STCE decided to create an investment fund of crypto-related companies. Investors also need to have the same long-term beliefs and have a clear investment plan, strategy and principles. Along with that, it is necessary to believe and follow the strategy you have set out. The market always has effects that make investors’ psychology unstable, change or forget their investment principles. At that time, they are easy to make wrong decisions in investment such as taking profits, choosing the time to buy, …
ETH Testnet Merge activated
Ethereum has passed the final test of proof-of-stake on Goerli. This is the final step before mainnet consolidation, which will see Ethereum’s transition from proof-of-work (PoW) consensus to proof-of-stake (PoS). The merger has been expected by ETH developers, who hope that it will make the Ethereum network significantly more energy efficient and fees cheaper.
Other information:
-
Tesla CEO Elon Musk sold 7.92 million shares of the company worth about $6.88 billion. While at the beginning of the year, Elon Musk said on social media that he has no plans to sell any more TSLA after April 28. The reason he sells Tesla shares is because of the incident related to the acquisition of the Twitter company.
-
Cryptocurrency exchange Coinbase Global (COIN) is being investigated by US securities regulators over its token listing process as well as its deposit, staking, and profit-generating products. However, in the filing, Coinbase said it believes these investigations will not “have a materially negative impact” on Coinbase’s financial standing.
-
The SEC has proposed an amendment to Form PF, requiring funds managing at least $500 million to disclose the cryptocurrencies they hold. The updates will also require large funds to report investment concentration, as well as associated leverage and trading funding. SEC Commissioner Hester Peirce opposed the amendment, saying it was unnecessary and inconsistent with the current SEC mandate.
-
Bloom Protocol ran an ICO at the height of the 2018 bull market. At the time, the SEC asked Bloom to register its tokens as a security for nine months or face a $31 million fine. The Bloom Protocol project is very small and there is a high probability that it will no longer work.
-
Phantom said security auditors did not find any vulnerabilities in their systems related to wallet mining. Initially, it was believed that the Solana libraries linked to Phantom, Slope, and other wallet applications were subjected to a “supply chain attack”. However, Phantom still does not know the exact cause and is investigating to release the results soon.
► Join the most prestigious Exchanges with exclusive deals with CHK
#Good #CPI #Bull #Market #Prepared #Formula
