Sphinxel

$SPX

Amidst record-high bond yields, large tech stocks led market indexes higher on the week's open. The US30Y is at its highest levels since 2011, yielding 4.46%, while the US10Y is at its highest levels since 2007, yielding 4.34%. SPX (+0.15%) and QQQ (+0.71%) opened higher before retracing to nearly flat at time of writing, with tech stocks leading the majority of the open's gains. BTC -1.54%  (+0.0%) and ETH -0.08%  (+0.1%) have also...

Despite yield reversal on bonds, equities market continue their retracement. Yields on the US10Y retraced 0.11% to 4.23% after peaking midday yesterday at decade-plus highs. Equities markets followed suit to reflect surging borrowing costs on future earnings, with the SPX and QQQ retracing 0.4% and 0.5%, respectively. Yesterday's bloodbath in crypto markets also continued, with BTC -1.54%  and ETH -0.08%  slipping by 7.4% and 6.1% in the past day. This move down has...

Inflation ticked up in July but modest price increases likely deter Fed from raising rates in September. CPI rose 3.2% YoY (vs. 3% in June), while core CPI rose by 4.7% (vs. 4.8% in June). Monthly figures painted a rosier picture, with both core CPI and CPI rising a mild 0.2% in both months. Markets reacted positively on the news at open, with SPX and QQQ both opening higher before retracing...

Traditional markets rebound after posting a loss last week as investors look to Thursday's CPI print for clues as to whether the Fed will continue to raise rates. SPX and QQQ are trading at 0.6% and 0.2% higher than Friday's close, while earnings reports are set to roll in for the worst quarter since 2020. Digital asset markets seem to be breaking correlation from traditional markets, with BTC -1.54%  (-0.9%) breaking down...

Equities and bond markets have extended recent losses from increased borrowing by the US. SPX and QQQ retraced by 0.3% and 0.2%, respectively, while the US10Y edges close to November highs at 4.2%. Apart from increased issuance in longer-term treasuries, the rise in bond yields have also been spurred by America's credit downgrade and a decline in corporate profits. BTC -1.54%  and ETH -0.08%  have experienced slight gains from yesterday's bearish daily engulfing,...

Equity indices are stalling today, with the SPX and NDQ both falling around 0.30%. The DXY (+0.38%) has continued its strong streak along with U.S. Treasury yields, with the US10Y holding above 4%. Crypto markets are struggling due to concerns about Curve founder Michael Egorov’s huge debt positions and speculation that SBF or Sam Trabucco could be responsible for the BALD rug. BTC -1.54%  (-1.43%) has fallen below $29k and ETH -0.08% ...

Traditional markets are flat on July's final trading day, ahead of a busy week of earnings. While SPX and QQQ are flat since open, they are poised for a fifth consecutive month of rises - the longest winning streak for each index since 2021. The jobs report due Friday is also expected to show ongoing strength in the labor market (200k July consensus vs 209k in June). BTC -1.54%  and ETH -0.08%  have...

Equities markets open marginally higher after inflation data last week showed a slowdown in price increases, fueling hopes that the Fed can achieve price stability without triggering a recession. SPX and QQQ are up 0.2% and 0.4%, respectively, with earnings season to roll through further this week. Despite last week's encouraging developments on the court's ruling against Ripple, the digital asset market has retraced most of its gains since Wednesday....

Equities are continuing their tear on the back of today's CPI release. The SPX and QQQ are both trading approximately 80 bps higher. Interestingly, materials and energy are leading the market, suggesting a broadening of the emergent bull market. Crypto continues to track more closely with gold than equities, with BTC -1.54%  and ETH -0.08%  flat over the last 24 hours. Altcoins received an early bid after the release of the highly...