Bitcoin bounces back to $50,000 – more to come?

Bitcoin

Bitcoin gain Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high, as the cryptocurrency continues to rebound. Bitcoin hit an all time high of over $64,000 in April 2021 – then but sold off in June and July, dipping below $30,000. But since mid July, bitcoin has been regaining lost ground. Other cryptocurrencies were also higher. Ether was trading up at around $3,302 Monday Market news roundup – morning business headlines U.S. stock futures rise and risky assets climb as attention turns to Jackson Hole Fed gathering –…

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Stock markets conditioned to run on central bank support

Bank

Market movement Stocks and oil prices fell on Thursday after the U.S. Federal Reserve intimated it could soon cut back its support An increase in the spread of covid-19 delta variant, signs of Chinese economic weakness and the Taliban’s takeover of Afghanistan also spooked investors. FTSE 100, Dow and S&P 500 FTSE 100 was down 1.5% in afternoon trading. The Dow Jones fell 86 points at the open, while the S&P 500 lost 0.40%. Later, Nasdaq and S&P 500 eked out small gains. U.S. markets % change Value Change Dow…

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U.S. indices sit at all time highs – but where now?

Bull market

The DOW at a jackpot high! The DOW, S&P 500 and Nasdaq have recently touched all time highs but where now for the U.S. stock market? Is it time for a breather? More upside? Many analysts suggest there is still room for more gains, especially for the S&P 500 – but I’m not so sure. I feel a 100% gain for the S&P 500 since the March 2020 pandemic drop may indicate it is vey close to a top in this cycle. Job creation, economic data, good company results and…

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Dow drops nearly 300 points as inflation and Covid-19 fears grow

Stock Markets

Dow down Inflation fears and the growing threat of the Covid-19 delta variant overshadowed strong retail sales data and better than expected earnings reports as the Dow fell after touching 35000 on the day. U.S. indices finish the week in the red The Dow lost nearly 300 points to close down at: 34688 S&P 500 closed down at: 4327 Nasdaq closed down at: 14427 Inflation fears The market had an eye on inflation even though the S&P 500 and Dow did touch record highs during the week. The consumer price index (CPI)…

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Fed keeps money tap open and flowing

Running tap with money

‘Ways off’ Jerome Powell – the Fed chair, said in a prepared statement yesterday that they are still a ‘ways off’ from altering policy and he expects inflation to moderate as it is seen as a temporary situation. He said that the economy needs to improve more before the central bank will change its ultra easy monetary policy. So no change there then – cheap free flow of money to be pumped further in to the all ready over expanded stock market. Jobs He also said that the labour market…

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U.S. inflation spreads through economy at 5.4% its biggest rise since 2008

Inflation

Secondhand vehicle purchases, car, van and truck rental, food, energy, clothing, travel (plane) tickets and hotels rose sharply in June 2021 The cost of living climbed by the largest amount since 2008 as inflation spreads more broadly through the U.S. economy. Transitory inflation? Fresh questions about whether the spike in prices will subside as quickly as the Federal Reserve predicts are back in focus again. Some analysts are now saying that not only is the U.S. economy hot – it is white hot! Price jump For the 12 month period,…

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Dow S&P 500 & Nasdaq reach new records… again!

U.S. stock records

After a weird week for U.S. stocks – the Dow, S&P 500 and Nasdaq yet again notch new records on Friday after losing ground during the week Inflation and growth Do you believe stalling economic growth is a bigger threat than inflation? Right now I have less of an idea that at the beginning of the week. What is going on? Fears of runaway inflation have been swapped for worries about a rapid slowdown in global economic growth. As I see it there are three obvious elements in the shift…

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The Fed’s reverse repo system sees demand climb overnight

Federal Reserve

Repo overnight demand increases Overnight demand for the Federal Reserve’s reverse repo program surged close to $1 trillion on Wednesday 30th June 2021. Is this a problem? The repo system is an overnight money holding facility for banks and financial institutions. A short term parking system for billions of U.S. dollars. The facility had been met with growing demand since April, as businesses look for ways to temporarily invest excess cash as trillions of fiscal and monetary stimulus continue to slosh through the economy. The Fed The Fed is keen to reduce…

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Strong jobs report pushes S&P 500 to new record

Market high

S&P 500 rises for a 7th day in a row Stocks rose again on Friday 2nd July as the S&P 500 hit another record high after the June jobs report showed 850,000 new, well above analysts expectations. The index rose 0.75% to 4352 while the Nasdaq climbed 0.81% claiming its own record at 14639. The Dow also added 153 points to close at 34786 fast closing in on its all time high. A positive continuation as the U.S. economic cycle moves from first to second half of the year. The…

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S&P 500 & Nasdaq eke out new all time highs

Bear Bull

The S&P 500 and the Nasdaq moved into uncharted waters at close of business yesterday, 29th June 2021 both claiming new records New all time highs reached! The Nasdaq closed at an all time record high of: 14528 The S&P 500 closed at an all time high of: 4292 But are investors finally turning bearish on the S&P 500? Now that we have completed the first half of the year notching stellar U.S. stock gains – how likely is it that the S&P 500 will continue to charge to new…

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