Sphinxel

$SPX

Traditional markets are stumbling today as the National Bank of Canada unexpectedly raised interest rates by 25 bps, sparking fears that the U.S. will potentially follow suit. The SPX (-0.31%) failed to break through $4,300, while the NDQ (-1.36%) has taken a pause on its recent outperformance. Crypto markets are still digesting the repercussions of the SEC lawsuits against Binance and Coinbase, with BTC -2.31%  (-3.15%) trading around $26.3k and ETH -1.36% ...

Global markets find their footing after last Friday's rally originating from a hot May jobs report. With the debt ceiling resolved and earnings seasons concluding, investors are honing in on the Fed's meeting next week for guidance on what's next. SPX opened higher before retracing back to even, QQQ displayed a similar pattern and is up 0.3%, while NDAQ is trading at a 0.6% relative to Friday's close. Digital asset markets...

After stalling yesterday, traditional equity indices have continued their march upwards, with the SPX (+0.86%) surpassing $4,200 and the NDQ (+1.01%) pushing past $14,400. Debt ceiling fears have largely been alleviated as a bill suspending the ceiling passed the House late last night and will now move on to a Senate vote. Crypto markets are not sharing the same optimism as BTC -2.31%  (-1.19%) has dropped back below $27k and ETH -1.36% ...

After showing gains in after-hours trading, markets retraced on the first trading day after Memorial Day Weekend. President Biden and House Speaker McCarthy struck a tentative deal to raise the U.S. debt ceiling, although markets are ambivalent on whether it can be implemented by the June 5th deadline. SPX and QQQ opened 0.5% and 1.1% higher from last week's close before retracing to 0.1% and 0.9% higher, respectively. Treasury yields...

Cryptoassets and equities swapped roles today as the crypto market received a significant boost during Asian trading hours (more on this below). BTC -2.31%  reclaimed its position above $27k, while ETH -1.36%  made a strong push toward $1850. Among alts, the performance has been mixed. ETH scaling solutions ARB -7.28% , OP -3.91% , and IMX all experienced gains of over 2% during the day. Meanwhile, the native token of the decentralized GPU rendering platform, RNDR,...

Equity markets opened the week with mixed results while bonds yields ticked higher as investors eagerly await updates on debt-ceiling negotiations. Relative to last week's close, NDAQ is trading at -0.2%, SPX is flat (+0.1%), while QQQ is changing hands at +0.4%. US02Y and US10Y are up 1% on the day, reflecting the President's and House Speaker's meeting later today in an effort to avoid a technical default. Digital asset...

Markets saw a retracement as retail sales data for April came in lower than expected, triggering fears of weak earnings from retailers. SPX and NDAQ slid 0.3% and 0.6% lower than yesterday's close, while the QQQ continued its ascent from nearly two weeks ago, up 0.5%. Digital asset markets saw a similar decline, with BTC -2.31%  dipping below $27k for the second time in the past month, and ETH -1.36%  trading at...

Bitcoin (BTC -2.31% ) and the broader crypto market are staging a recovery after a week of bearish price action, with altcoins facing particularly excessive pressure. Bitcoin has successfully bounced off its key 200-week moving average around $25,800 and is now hovering around $27,400. Ethereum (ETH -1.36% ), meanwhile, remains stable above the $1,820 level. Notable standout performers include altcoin LDO, up 12% on the day, potentially driven by improved withdrawal capabilities and short...

This morning’s initial jobless claims came in at 264k vs. 245k expected, marking the highest level since October of 2021, further supporting the notion that the Federal Reserve is seeing what they need to pause rate hikes going forward. Equity indices are mixed following this morning’s data, with the S&P 500 declining 0.23% and the Nasdaq 100 rising 0.26%. Crypto markets are underperforming compared to equities, with BTC -2.31%  (-1.51%) and...

Equity markets slid lower today as investors await CPI data tomorrow and discussion over the debt ceiling later today. SPX and QQQ are trading at -0.4% and -0.6% relative to yesterday's close after opening lower, whilst DXY and US10Y are up by 0.3% and 0.4% on the day. Digital asset markets are also following suit, with BTC -2.31%  and ETH -1.36%  sliding by 1.5% and 1.0% over the past day. Many have pointed...

The NDQ has slid 0.3% on Monday as investors anticipate corporate earnings reports from major tech companies, while the SPX is effectively flat. Investors are closely watching for earnings results from mega-cap tech firms, including Alphabet, Microsoft, Amazon, and Meta, marking the halfway point of the earnings season. Both BTC -2.31%  and ETH -1.36%  are moving lower in concert with major equity indices, and most altcoins, including MATIC -3.44%  and SOL -6.43% , are following...