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Galaxy Digital CEO believes memecoins have more to offer than laughs

Galaxy Digital CEO believes memecoins have more to offer than laughs

Memecoins, often inspired by internet jokes or cultural phenomena, have been dismissed by many industry experts for their perceived lack of utility. However, Galaxy Digital CEO Mike Novogratz believes that these meme tokens have a strong narrative that captures investor attention beyond just humor. “Memecoins – whether you’re a fan or not – have become […]
Powell Sparks Risk-Off Trading

Powell Sparks Risk-Off Trading

Image source: Pixabay Risk-off trading is dominating Wall Street as yesterday’s hawkish dot plot alongside Fed Chief Powell’s reluctance to cut rates weighs on sentiment. While yesterday’s rally was motivated by the doughnut CPI, this morning’s news of wholesale deflation amidst the loftiest level of weekly layoffs since August is concerning market participants about softening earnings […]
Soft U.S. PPI And Rising Jobless Claims Keeps Rate Cuts On Track

Soft U.S. PPI And Rising Jobless Claims Keeps Rate Cuts On Track

U.S. weekly jobless claims rose substantially more than expected while PPI undershot by a significant margin, reinforcing the argument that the Fed will likely be in a position to start making monetary policy slightly less restrictive before the end of the year. We still look for a September start point for rate cuts and expect them […]
Tougher For Longer

Tougher For Longer

Image Source: Pexels Yesterday morning, a milder-than-expected US CPI number boosted hopes that the US Fed may soon start lowering its policy rate. Financial markets pooped on the headline, further loosening financial conditions for some publicly traded companies.Then, a more hawkish Fed announcement in the afternoon lowered 2024 cut expectations from 75 basis points (bps) in […]
Sharp Decline In U.S. Dollar And Its Implications

Sharp Decline In U.S. Dollar And Its Implications

Did yesterday’s sharp decline in the greenback push gold as high as it could be expected? Technical Picture of the U.S. Dollar Let’s start today’s analysis by quoiting the previous article: (…) Earlier today, we saw a third in a row higher open and the gap (105.20-105.27), but the 61.8%Fibonacci retracement effectively lured bears to the […]
Gensler says FTX ‘is not unique,’ warns crypto exchanges are commingling functions

Gensler says FTX ‘is not unique,’ warns crypto exchanges are commingling functions

In a Senate Appropriations Committee hearing today, SEC Chairman Gary Gensler warned that the controversial practices of the now-defunct crypto exchange FTX are not isolated incidents in the industry.  “That is not unique,” Gensler said, referring to FTX’s commingling of functions. “It’s happened in multiple places that there’s this commingling.” Gensler emphasized the differences between […]
Is LTCM Replaying Itself Out In U.S. T-bills?

Is LTCM Replaying Itself Out In U.S. T-bills?

Image Source: Unsplash By Kane KcGukin via The Mesh PointWhen it came to finance, they were the smartest guys in the room. Two Nobel laureates, one-half of the “Black Scholes” options pricing equation, and leverage.When the carnage of LTCM stopped it was understood that it was not a case of genius men wielding math models but rather […]
Ethereum Is Mirroring Bitcoin’s Price Action: Is This A Good News Or Bad News?

Ethereum Is Mirroring Bitcoin’s Price Action: Is This A Good News Or Bad News?

Image Source: Unsplash Analyst Josh of Crypto World said that the Bitcoin price is now flashing a new short-term signal that requires attention and Ethereum is rejecting key resistance after bouncing from key support. As soon as the new CPI numbers were released, showing 3.3% year-over-year inflation, Bitcoin saw a quick pump in price.This was followed by […]
Employment Gains Overstated

Employment Gains Overstated

Image Source: Pexels Alhambra CEO Joe Calhoun discusses why the Establishment Report is overstating job gains.Video Length: 00:07:56More By This Author:Question Time: Is the Stock Market Actually the Stock Market? De-Globalization And Tariffs Stock Market And DARP Update
Stocks Mixed Despite Cooler-Than-Expected Inflation

Stocks Mixed Despite Cooler-Than-Expected Inflation

Despite today’s cooler-than-expected inflation reading, Wall Street is scattered this afternoon. Traders are weighing the likelihood of interest rate cuts in the near term after the Federal Reserve slashed expectations of rate cuts in 2024 to one from three. At last glance, the Dow Jones Industrial Average (DJI) is down 277 points, the S&P 500 Index […]