This week’s economic dates gave markets a good share of negativity. The Fed Funds rate remained unchanged at 5.5% and J.Powell’s hawkish rhetoric scared traders at moments. The labour market remains strong with unemployment expected to remain at 3.8%.
🟢 The cryptocurrency market ends the working week in the green zone. The capitalization of digital assets grew by 1.2%. The main driver of growth is BTC. Finally, outflows from ETFs were replaced by inflows.
🟢 The stock market is also in the green zone. The S&P 500 is up 0.86% and the Nasdaq is up 0.74%. Reactions to the Magnificent Seven reports are mixed. A pattern has emerged — profit-taking on good reports if the stock is at historic highs. The negative reaction to the AAPL report overlapped the META and AMZN reports.Download the App