Financial market tankan on the morning of the 12th | NY Dow and AI-related stocks continue to rise

1/12 (Thursday) morning market trends (compared to the previous day)

traditional finance

• NY Dow: $33,927 +0.6%
• Nasdaq: $10,901 +1.4%
• Nikkei Average: ¥26,446 +1%
• USD/JPY: 132.4 +0.2%
• USD Index: 103.2 +0.03%
• 10 year US Treasury yield: 3.5% -2.3% annual yield
• Gold Futures: $1,880 +0.2%

crypto assets

• Bitcoin: $17,557 +0.6%
• Ethereum: $1,342 +0.2%
• Avalanche: $14.4 +13%
• FLR: $0.047 +14%

Today’s New York Dow and Nasdaq continue to grow. Tonight (22:30), the US CPI (Consumer Price Index) will be announced, and it has been pointed out that there is a possibility that the market will be “actually sold” due to the continued advance of the market price.

Expectations for a slowdown in inflation were strong in the forecasts for the CPI in December last year.

• CPI (vs. previous month): previous +0.1% forecast -0.2%
• CPI (year-on-year): previous +7.1% forecast +6.5%
• Core (MoM): Previous +0.2% Forecast +0.3%
• Core (YoY): Previous +6.0% Forecast +5.7%

Relation: What is the CPI (Consumer Price Index) that attracts attention in the virtual currency market?

US stocks

As for US stocks, IT and high-tech stocks remained firm today. Individual stocks: C3.ai (AI related) +4.5%, DocuSign (machine learning related) +2.6%, Amazon +5.5%, Microsoft +2.4%, Apple +1.7%, Tesla +3%, Meta -0.2% , Coinbase +1.3%, Micro Strategy +2.5%.

As for Tesla, it plans to spend more than $700 million (approximately ¥93 billion) on expanding its newest factory, the Gigafactory, in Austin, Texas, and applied for construction permits on the 10th. It was also reported on the 11th that the two companies are nearing a tentative agreement on the construction of a plant in Indonesia to produce one million vehicles a year. A senior Indonesian government official announced last year that Tesla had signed a deal to buy EV battery materials from an Indonesian nickel processing company for about $5 billion.

Tesla CEO Elon Musk’s Twitter company leaked information yesterday suggesting it is continuing to develop its own currency, Coin. Security researcher Jane Manchun Wong, who has been following the progress, pointed out that Coin purchases could be made through USDC and others on the online payment service Stripe.

Yesterday, Twitter launched a paid subscription service called “Twitter Blue” in Japan.

Relation: Will Twitter continue to develop its own currency “Coin”?

Relation: Commentary on the relationship between government bonds and interest rates, and the impact on the cryptocurrency market

USD/JPY: 132.4

The dollar/yen exchange rate continued to hover around the 132 yen level as the US CPI waited. Some predict that the dollar will sell if the CPI results help ease the Fed rate hike.

Source: Tradingview

Relation: The background of the “strong dollar” that affects the virtual currency market also explains the correlation and factors of the weak yen

Virtual currency market

The cryptocurrency market is mixed. Avalanche (AVAX) and flares (FLR) rose sharply.

Regarding Avalanche, it was announced that Amazon’s cloud service AWS will cooperate with Ava Labs to support node operation and dApps construction.

Source: Binance

In addition, Flare (FLR) recently completed its first token distribution event, and on the 11th, Bitbank conducted a new listing of FLR. It is currently traded on major exchanges such as Kraken and OKX.

Relation: Crypto Flare (FLR) Completes Token Distribution Event

Cryptocurrency/Blockchain-related Stocks (Year-on-Year Change/Year-to-Week Change)

• Coinbase｜$43.7 (+1.3%/+31%)
• Algo Blockchain | $1 (-18%/-27%)
• Monex Group | ¥475 (+5.3%/+8.7%)

US Coinbase reportedly planned to end most of its Japanese operations on the night of the 11th. The reason for the termination of the business is said to be to review global investment due to the recession of the cryptocurrency industry. The company had just recently announced that it would cut about 20% of its workforce, or about 950 jobs.

Also, the stock price of Bitcoin mining company Argo Blockchain plummeted. December bitcoin mining numbers drop by about 30% due to the impact of bad weather in Texas on electricity. In December, only 147 BTC could be produced.

Relation: Stock investment recommended for virtual currency investors, representative virtual currency stocks of Japan and the United States “10 selections”

GM Radio 2nd Archive

https://t.co/nr8dNhvmzM

— CoinPost Global (@CoinPost_Global) December 22, 2022

Special guests this time are Yat Siu, chairman of Animoka Brands, a leading Web3 (decentralized web) company, and Benjamine Charbit of Darewise Entertainment. He talks about the current challenges of Web3 games and NFTs, Darewise’s first title “Life Beyond”, and the outlook for the industry.

Relation: To hold the 2nd “GM Radio”, guests are the chairman of Web3 major Animoka Brands

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