11 months ago
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11/30 (Thursday) morning market trends (compared to the previous day)
traditional finance
- NY Dow: 35,430 +0.04%
- Nasdaq: 14,258 -0.1%
- Nikkei average: 33,321 -0.2%
- USD/JPY: 147.1 0%
- GME (GameStop): $16.2 +20.5%
U.S. revised quarterly real GDP for July-September period.
- Real GDP Result 5.2% Expected 4.9% Previous 4.9%
- Personal consumption Result 3.6% Expected 4.0% Previous 4.0%
The revised figure for the U.S. real gross domestic product for the third quarter was revised upward to an annualized 5.2% year-on-quarter increase from the preliminary estimate of 4.9%, marking the highest growth rate since the October-December quarter of 2021. On the other hand, personal consumption has been revised downward from the preliminary figure of 4% increase to 3.6% increase.
Economists are confident that a soft landing is possible, although growth will slow in the fourth quarter as consumer spending retreats, according to MarketWatch. The Federal Reserve Bank of Atlanta’s GDPNow model projects that real GDP will expand at an annualized rate of 2.1% in the fourth quarter.
Today’s main market materials are as follows:.
- Expectations for a Fed rate cut increase due to Waller’s dovish remarks the day before, and expectations for a 0.25% rate cut next May have been fully factored in in the swap contract market.
- In CME interest rate futures, 48% expect a 0.25% rate cut next May.
- U.S. Federal Reserve Economic Report (Beige Book): Labor market still tight, sales of discretionary items and consumer durables declining, borrowing costs high, economy starting to cool down.
- Continued buying as US bond yields continue to fall amid expectations for interest rate cuts
- Dollar yen: At one point it was sold to 147.08 yen
What market participants will be paying attention to this week is the October Personal Consumption Expenditure (PCE deflator), which is scheduled to be released on Thursday, and will have an impact on the year-end sales performance in the United States. The PCE deflator is an indicator that the US Federal Reserve considers more important than the CPI.
Important economic indicators/events from this week onwards
- 11/30 (Thu) 22:30 US October personal consumption expenditure (PCE deflator)
- 12/6 (Wednesday) 22:15 US November ADP employment statistics
- 12/8 (Friday) 22:15 U.S. November unemployment rate
- 12/12 (Tue) 22:30 U.S. November Consumer Price Index (CPI)
- 12/14 (Thu) 4:00 US FOMC policy rate announcement
connection: Mr. Kiyosaki, author of Rich Dad: “Invest in gold, silver, and Bitcoin before it’s too late.”
connection: Stock investment recommended for virtual currency investors, “10 representative virtual currency stocks in Japan and the United States”
connection:Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks
Virtual currency related stocks remain flat at the end of the month
- Coinbase｜$127.8 (-0.3%)
- MicroStrategy | $507.1 (+0.2%)
- Marathon | $12.4 (+0.1%)
Regarding Coinbase stock, major hedge fund Ark sold 43,956 shares (worth $5.3 million) on the 28th, and this month it sold SoFi (total of 1.6 million shares this year) and Robinhood stock (worth $1.1 million on November 7th). It turned out that he had bought more.
Virtual currency market
- Bitcoin: $37,817 -0.4%
- Ethereum: $2,031 -1.2%
connection: Net inflows for Bitcoin investment products for 9th consecutive week, the largest since the “bull market” in November 2021
connection: “Possibility of year-end rise in virtual currency market” Matrixport report
CoinPost Special feature for virtual currency beginners
CoinPost official app (1.7.15) has been released on iOS and Android
・iOS17 compatible
・Improved display of in-app WebView
・Improved behavior when tapping notifications
Such… pic.twitter.com/Y8dikLRBe7
— CoinPost (virtual currency media) (@coin_post) November 15, 2023
The post U.S. 3Q real GDP +5.2%; expectations for Fed rate cut by May next year increase | 30th Financial Tankan appeared first on Our Bitcoin News.
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