1 year ago
80
2/10 (Friday) morning market trends (compared to the previous day)
- NY Dow: $33,699 -0.7%
- Nasdaq: $11,789 -1%
- Nikkei Stock Average: ¥27,584 -0.08%
- USD/JPY: 131.5 +0.14%
- USD Index: 103.1 -0.2%
- 10-year US Treasury yield: 3.66 +0.7%
- Gold Futures: $1,872 -0.9%
- Bitcoin: $21,979 -4%
- Ethereum: $1,575 -4.4%
traditional finance
crypto assets
Today’s New York Dow and Nasdaq continue to fall. The decline of the NY Dow exceeded $ 340 at one point. According to the unemployment insurance statistics released by the U.S. Department of Labor on the 9th, the number of new applications for unemployment insurance from January 29 to February 4 last week was 196,000, exceeding the market forecast of 190,000, an increase of 13,000 from the previous week. It was the first increase in six weeks. NY Dow futures and Bitcoin (BTC) rose slightly as employment pressure slowed down from the strong January employment data released last week, but yesterday’s hawkish remarks by senior Fed officials raised deep-rooted concerns about continued interest rate hikes. seems to have pushed the market down.
connection: Bitcoin drops to $ 22,500, ASTR and GARI soar temporarily
Along with its October-December results last year, Walt Disney also announced a restructuring plan that included 7,000 job cuts as part of a $5.5 billion cost-cutting package. In order to streamline and streamline operations and reduce costs, the business will be reorganized into three divisions: the entertainment division, which handles movies, television, and online distribution; the ESPN division, which handles sports; and the Disney parks, experiences, and products division.
Net income and sales also fell short of market expectations, but earnings per share exceeded expectations. Theme parks continued to see solid sales growth, but Disney Plus posted a loss of more than $1 billion after membership declined for the first time on a quarterly basis. On the other hand, the deficit was smaller than expected. Following the announcement, Disney’s stock rose 8% in after-hours trading, but turned negative.
Approximately two-thirds of the S&P 500 companies completed their financial results announcements for the October-December period last year, and nearly 70% of the companies’ final profits exceeded expectations. In the background, there seems to be growing concern over the company’s future performance.
Key economic data dates for February
- 10th 24:00 (Friday): U.S. Michigan Consumer Confidence Index February preliminary figures
- 8:50 on the 13th (Monday): Japan October-December Quarterly Real Gross Domestic Product (GDP, preliminary figures)
- 14th 22:30 (Tue): US January Consumer Price Index (CPI)
- 15th 22:30 (Wednesday): US January retail sales
- 23rd 22:30 (Thursday): U.S. October-December Quarterly GDP Personal Consumption and Core PCE Revised Values
- 24th 22:30 (Friday): US January Personal Consumption Expenditure (PCE deflator)
- 24th 24:00 (Friday): University of Michigan Consumer Confidence Index February Confirmed value
connection: What is the CPI (Consumer Price Index) that attracts attention in the virtual currency market?
US debt ceiling
In his State of the Union address on Wednesday, President Biden called on Congress to raise the debt ceiling, stressing that he would not allow the United States to “default” on the issue of raising the federal debt ceiling, which is currently the focus of the market.
The risk of the US government defaulting on its debts has been highlighted since last month, and it is viewed as a problem as it can have a major impact not only on the US economy but also on the global economy.
The debt ceiling is the “upper limit” of government bonds that the federal executive branch can issue. Congress has the power to set this limit. It has already reached the upper limit of about 31.4 trillion dollars, and if it is not raised, the fiscal funds will be exhausted as early as June of this year, and there is a risk that the debt will not be paid on the principal and interest of the US Treasuries.
The reason the increase has been difficult is because Republicans regained control of the House of Representatives in the midterm elections last fall. Right-wing Republicans are pushing hard for spending cuts in exchange for a higher cap.
If it actually defaults, it will not be possible to pay the principal and interest on government bonds issued by the US government as promised. The Fed’s rapid quantitative tightening and interest rate hikes have made interest payments more burdensome than before. Since US Treasury bonds are held by many foreign governments and large investors as a safe haven asset in the world, it is said that if they default, the financial markets could be disrupted. The contents of the ′′ budget message ′′ that is the administration budget request that President Biden plans to propose to Congress in March will be the focus of the future.
US stocks
Compared to the previous day for individual stocks, NVIDIA +0.6%, c3.ai -14%, Big Bear.ai -11%, Tesla +3%, Microsoft -1.1%, Alphabet -4.4%, Amazon -1.8%, Apple -0.7% , Meta-3%, Coinbase-14%, Micro Strategy-9.7%.
Regarding Alphabet (Google), its stock price plummeted after it was pointed out that inaccurate answers by Google’s new AI chatbot “Bard” announced on the 8th of the previous day, and the market capitalization exceeded 100 billion dollars. Lost, two days in a row.
connection: Recommended for cryptocurrency investors, advantageous shareholder benefits “10 selections”
Cryptocurrency/Blockchain-related Stocks (Year-on-Year Change/Year-to-Week Change)
- Coinbase | $59.6 (-14%/-20%)
- Robinhood Markets | $10 (-3.7%/-6%)
- Hat8 Mining | $1.89 (-13%/-4%)
As for Coinbase, staking by centralized players like Coinbase came after CEO Brian Armstrong tweeted yesterday about rumors that the U.S. Securities and Exchange Commission is about to ban staking. There are growing concerns that the service will not be available in the United States.
Also, Kraken agreed to a $30 million settlement with the SEC on the 9th, and it was revealed that it will stop providing staking services to US users. The industry is questioning whether this will set a precedent for staking bans in the US in the future.
Today we charged Kraken with failing to register the offer and sale of their crypto asset staking-as-a-service program, whereby investors transfer crypto assets to Kraken for staking in exchange for advertised annual investment returns of as much as 21 percent.
— US Securities and Exchange Commission (@SECGov) February 9, 2023
connection: US Coinbase CEO “If the rumor of staking ban is true, the US is on a stupid path”
connection: Stock investment recommended for virtual currency investors, representative virtual currency stocks of Japan and the United States “10 selections”
GM radio last night
connection: Connext, aiming for cross-chain UX optimization, will participate in the 5th “GM Radio”
The 5th Annual GM Radio was held last night. Guest speaker Rahul Sethuram, co-founder of Connext, talked about US VC-related trends, the public launch of Connext, the benefits of xApps, and future plans.
https://t.co/SvfiT0Zviy
— CoinPost Global (We’re hiring!) (@CoinPost_Global) February 9, 2023
GM radio last week
The 4th GM Radio was held last Friday. Four guests, including the co-founder of LayerZero Labs, who participated for the second time, and the founder of DeFi Kingdoms, talked about “Possibilities of cross-chain games” and “Challenges of blockchain games”.
Live in 25! #GMRadio@DeFi Kingdoms @LayerZero_Labs https://t.co/LfYsp3zKfZ
— CoinPost Global (We’re hiring!) (@CoinPost_Global) February 3, 2023
connection: 4th “GM Radio” held, guests are DeFi Kingdoms executives
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