Good CPI And Bull Market- Always Believe In The Prepared Formula

Good CPI And Bull Market- Always Believe In The Prepared Formula

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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.

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