Financial market tankan on the morning of the 18th | NY Dow declines Coinbase and virtual currency mining stocks soar

January 18 (Wednesday) morning market trends (compared to the previous day)

traditional finance

• NY Dow: $33,935 -1%
• Nasdaq: $11,098 +0.18%
• Nikkei Stock Average: ¥26,138 +1.2%
• USD/JPY: 128.2 -0.1%
• USD Index: 102.4 +0.19%
• 10-year US Treasury yield: 3.54 +1.09%
• Gold Futures: $1,910 -0.57%

crypto assets

• Bitcoin: $21,318 +0.5%
• Ethereum: $1,581 -0.1%

Today’s New York Dow fell back and temporarily dropped over $400. US stock markets were closed yesterday for a holiday.

On Tuesday the 17th, Goldman Sachs’ financial results, which were announced before the start of trading, were disappointing, and the NY average was pushed down by selling first. Goldman’s earnings for October-December 2022 (4Q 4Q) fell short of market expectations for sales and earnings per share. Goldman stock fell 6.4% from the previous day.

Major banks such as JP Morgan Chase, Bank of America, and Wells Fargo, which announced their financial results last weekend, also fell, putting pressure on the entire market. From tomorrow, Netflix, Charles Schwab, State Street, etc. will be announced, and the financial results of US companies will be in full swing.

On the other hand, Tesla rebounded sharply. As materials, US car rental giant Hertz Global has announced that it will provide 25,000 electric vehicles, including Tesla and Volvo, to Uber drivers in major European cities by 2025, and some analysts are optimistic about Tesla stock. was properly evaluated.

In terms of individual stocks of IT and high-tech stocks, Big Bear ai (AI related) -20%, C3.ai (AI related) +5.4%, Amazon -1.9%, Microsoft +0.3%, Apple +0.7%, Tesla + 7.2%, Meta -1%, Coinbase +9.6%, MicroStrategy +10%, Bit Digital +13%.

Relation: The “20 million yen after retirement” problem is the reason why the Japanese government recommends investment

economic indicators

The Bank of Japan has a monetary policy decision meeting today on the 18th, and after the meeting, the policy interest rate will be announced. Governor Haruhiko Kuroda is scheduled to hold a press conference on the afternoon of the 18th (15:30) to explain the details of the decision. Also, the US December Retail Sales and Wholesale Price Index (PPI)/Core will be released tonight at 22:30. Last week, the US consumer price index (December), an important indicator of the inflation rate, slowed down as expected, raising expectations that the FRB will slow down interest rate hikes. would justify easing rate hikes.

• US PPI: forecast -0.2%, previous 0.3% (m/m)
• US PPI Core: Forecast 0.2%, Previous 0.4% (MoM)

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

This week’s key economic indicators and events

• January 18: Bank of Japan Policy Board Monetary Policy Meeting decision details
• January 18: US December Retail Sales and Wholesale Price Index (PPI)/Core
• January 20: Japan December National Consumer Price Index (CPI)

USD/JPY: 128.2 -0.1%

The dollar/yen pair recovered to the 129-yen level at one point last night, but the atmosphere is strong as it waits for the Bank of Japan’s decision-making meeting. Last week, the yen continued to buy on the speculation that the Bank of Japan would revise its policy, but speculation about an early revision of the Bank of Japan’s monetary easing measures temporarily receded. The Nikkei Stock Average rebounded for the first time in three days after a pause in the yen’s appreciation.

Source: Tradingview

Relation: Bank of Japan de facto interest rate hike December 20

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

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

• Marathon Digital Holdings｜$8.3 (+8.9%/+8.9%)
• Hive Blockchain Technologies | $3.3 (+6%/+6%)
• Algo Blockchain | $1.8 (+23%/+23%)
• Coinbase Global | $54.1 (+8.3%/+8.3%)

Virtual currency mining stocks are all high. Bitcoin’s return to $20,000 last weekend boosted the market.

Also, the coinbase is soaring. BTIG analysts are bullish and target $110.

Relation: Recommended for cryptocurrency investors, advantageous shareholder benefits “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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