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Archives by Year:
Stocks Mixed As Historically Bullish Month Begins
Following Wall Street’s strong June showing, we’re now entering a historically bullish month for the market. The Dow Jones Industrial Average (DJI) is modestly lower midday, the S&P 500 Index (SPX) is flat, and the Nasdaq Composite (IXIC) stands higher with help from several tech stocks. Nvidia (NVDA) is excluded from this, however, moving lower at last glace.Meanwhile, bond […]
12 Largest Cannabis Stocks Declined +11%, On Average, In June
Image Source: Unsplash An Introduction Multi-state cannabis/marijuana operators (i.e. MSOs) have been relying on tax deferrals as well as retroactive returns potentially from years prior for some time now and Trulieve’s recent sizable tax return led many companies to believe that they, too, could enjoy such a capital infusion via the IRA. In response to such […]
Aptos Foundation proposes Aave V3 deployment, marking first non-EVM expansion
Key Takeaways Aptos Foundation’s proposal for Aave V3 is in the temperature check phase. Approval could lead to Aave’s first deployment on a non-EVM blockchain. The Aptos Foundation has proposed deploying Aave V3 on the Aptos mainnet, potentially marking Aave’s first expansion to a non-EVM blockchain ecosystem. Aptos Foundation has introduced a proposal to deploy […]
June Manufacturing Rebounds, May Construction Spending Declines
As usual, the month starts out with important data on manufacturing and construction. There was bad news and good news. The bad news is that both were negative. The relatively good news is that they were so slightly negative as to be essentially flat.First, the ISM report on manufacturing declined very slightly – by -0.2 […]
The Impact Of Cryptocurrency On The Indian Economy
Image Source: Unsplash Cryptocurrency refers to a digital or virtual medium of exchange that employs cryptographic techniques to facilitate secure financial transactions. At its core, cryptocurrency operates on a technology known as blockchain. Blockchain serves as a decentralised ledger, ensuring that transactions are transparent, immutable, and decentralised. This technology is pivotal in maintaining the integrity and security of […]
Even Smooth Bank Stress-Test Results Fray Nerves
Image Source: Pexels The annual stress tests that banks undergo are supposed to soothe nerves. This year they’ll probably jangle them. The 31 large U.S. lenders put through their paces by the Federal Reserve sailed through, showing capital levels that remained sound even under theoretical spikes in unemployment, plunging real estate prices, and market routs. The near-$300 […]
Elliott Wave Technical Analysis: Russell 2000 Index – Monday, July 1
Image Source: Unsplash RUSSELL 2000 Elliott Wave Analysis Trading Lounge Day ChartRUSSELL 2000 Elliott Wave Technical AnalysisFUNCTION: Trend MODE: Impulsive STRUCTURE: Orange wave 3 POSITION: Navy blue wave 3 DIRECTION NEXT HIGHER DEGREES: Orange wave 3 (started) DETAILS: Orange wave 2 completed between Fibonacci levels 61.80 to 78.60, now orange wave 3 is active. Wave cancel invalid level: 191.19The Elliott Wave analysis for the […]
July could propel Solana to third-largest crypto by market cap, says Zeta Markets Founder
Key Takeaways Solana’s market cap growth is fueled by recent ETF filings. Tristan Frizza predicts a strong market for Solana in the coming months. Solana (SOL) is up 35% in 2024 and is currently the fifth-largest crypto by market cap. Last week, asset management firm VanEck filed for the first spot SOL exchange-traded fund (ETF) […]
The Energy Report: Storm Surge
Energy up on rising storms of different natures. Weather Risks, geopolitical risk, the possibility of an oil supply deficit and predictions of record Fourth of July travel are being tempered with Data from the Energy Information Administration that touts oil and gas production and disappointing Canada Trans Mountain Pipeline loadings suggesting weak Chinese demand. Is […]
As ‘Hard’ Data Collapses, Manufacturing Surveys’ Mixed Reality Emerges
With ‘hard’ data collapsing in the last month, ‘soft’ survey data from ISM and S&P Global this morning was ‘mixed’ as usual: S&P Global US Manufacturing PMI rose from 51.3 in May to 51.6 for the final June print (down very modestly from the 51.7 flash print). ISM US Manufacturing PMI dropped from 48.7 to 48.5 in June (well […]
