The S&P 500 is now poised for its worst first half since Richard Nixon’s presidency. With just seven trading days left until the end of June, the index is down 21% since the beginning of the year, a scale unmatched by any start to a year going back to 1970, according to data compiled by … Read more
The People’s Bank of China intends to accept Ant’s application to become a financial holding company once it’s submitted and will then start a review process, which could take months, said the people, asking not to be identified discussing a private matter. Officials will examine Ant’s capital strength and business plans, as well as the … Read more
Marcus Sotiriou, an analyst at GlobalBlock, pointed to the Glassnode data to say that “a macro bottom, or temporary bottom, could be close,” according to a note on Monday. Altcoins have not suffered the same “cascade in liquidations” as Bitcoin and Ether, which are the tokens primarily used as collateral for leveraged positions, he said.
(Bloomberg) – US stocks rose Friday after struggling to find direction earlier as traders parse comments from Federal Reserve officials reiterating that the central bank needs to do more to curb the hottest inflation in 40 years. The S&P 500 and the tech-heavy Nasdaq 100 drifted higher after Thursday’s plunge took US stocks to the … Read more
“75 basis points is a solid showing that will, all else being equal, serve to improve Fed credibility and leave monetary policy slightly less behind the inflationary curve,” Benjamin Jeffery and Ian Lyngen, strategists at BMO Capital Markets, wrote in a note. “The response in risk assets will ultimately define the extent to which the … Read more