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Stock Market and Stocks, 0 Walker Village Ambermouth, Newark (2026)

17/09/2023

Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinhood (NASDAQ:HOOD) as a leading holder of Ether (ETH) and the owner of the fifth-largest ETH wallet, which contains about $2.54 billion of the cryptocurrency.

Arkham stated on X (formerly Twitter) that its recognition of Robinhood possessing the third-largest Bitcoin wallet garnered significant attention. However, it said less attention has been paid to its identification of Robinhood as the holder of the fifth-largest ETH wallet. In a separate update, Arkham emphasized that these funds are user balances under custody.

16/09/2023

Google (NASDAQ:GOOGL) Cloud announced a new partnership with the government of El Salvador on Aug. 29 to establish an office and provide Google Distributed Cloud (GDC) services in the country.

The partnership aims to digitize the country, update government services and improve the healthcare and education systems. The GDC will also help bring infrastructure closer to where data is generated for El Salvador.

16/09/2023

Crypto.news - Iris Energy invests $10 million in 248 Nvidia (NASDAQ:NVDA) H100 GPUs to expand into generative AI alongside its existing focus on Bitcoin (BTC) mining.

The company expects the 248 GPUs to be delivered in the coming months and aims to utilize them in cloud computing opportunities.

Daniel Roberts, co-founder and co-CEO of Iris Energy, stated that the company aims to use its existing data centers to meet the burgeoning demand for generative AI computing.

15/09/2023

Grayscale has emerged victorious in a lawsuit against the U.S. Securities and Exchange Commission (SEC) regarding the review of its Bitcoin ETF.

Bitcoin (BTC) rose 6.2% yesterday to close above the 200-DMA for the first time since January.

15/09/2023

South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party.

A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local news agency Yonhap reported on Aug. 30.

Kim Nam-kuk at a plenary session at the National Assembly in Seoul on Aug. 24, 2023. Source: Yonhap

13/09/2023

The safe-haven dollar fell on Monday as risk sentiment improved on hopes China's policy stimulus might stabilise the economy, while U.S. jobs data boosted bets the Federal Reserve could be at the end of its rate hike cycle.

With U.S. markets closed on Monday, liquidity is likely to be thin and traders hesitant to place large bets.

The dollar, against a basket of currencies, inched 0.15% lower to 104.08, but remained close to the two-month peak of 104.44 it touched on Aug. 25. The index gained 1.7% in August, snapping a two-month losing streak.

China stepped up measures to boost the country's faltering economy, with Beijing planning further action including relaxing home-purchase restrictions.

The China-sensitive euro was up 0.25% at $1.0799, just off a 10-week low touched last week against the dollar. The single currency has weakened almost 12% this summer.

The Australian dollar and the New Zealand dollar also got a lift from those measures. [AUD/]

"The U.S. dollar is softening against most other G10 currencies today as risk appetite improves on the back of China support measures," said Jane Foley, head of FX strategy at Rabobank.

In the meantime, data on Friday showed U.S. job growth picked up in August, but the unemployment rate jumped to 3.8%, while wage gains moderated.

A string of economic data highlighting moderating inflation as well as an easing labour market have added to the impression the U.S. economy is cooling without slowing sharply, reinforcing hopes that the economy is set for a soft landing.

Markets are pricing in a 93% chance of the Fed holding steady on rates this month, and over a 60% probability of no more hikes this year, the CME FedWatch tool showed.

The euro was untouched by European Central Bank President Christine Lagarde saying on Monday that central banks must pin inflation expectations at their targets at a time when changes in labour and energy markets as well as geopolitical turmoil are causing price swings.

Last week, ECB board member Isabel Schnabel said that euro zone growth is weaker than predicted just a few months ago but this does not automatically void the need for more rate hikes, especially as investors are undoing some of the ECB's past work.

"The euro could have derived a little boost from expectations that, on balance, the ECB will maintain a hawkish bias in part to prevent market rates falling too soon. Schnabel’s comments provided an insight into this," Foley added.

POLICY FOCUS

British finance minister Jeremy Hunt said at the weekend that inflation was on track to halve by the end of 2023, vowing to focus on the goal as he laid out his priorities ahead of the reopening of parliament after the summer break.

Sterling was up 0.34% at $1.2633 after revised British data published on Friday showed the economy recovered faster from the pandemic than previously thought.

Elsewhere, the Australian dollar added 0.2% to $0.6462 ahead of the Reserve Bank of Australia policy meeting on Tuesday when it is expected to stand pat. A Reuters poll showed that all but two of 36 economists said the RBA would hold its official cash rate at 4.10% on Sept. 5.

The Canadian dollar slipped 0.07% to 1.359 per dollar ahead of the Bank of Canada's policy meeting this week, with the central bank expected to hold rates.

Looking ahead, investor focus will be on a number of Fed officials due to speak this week for clues on what the U.S. central bank will do at its next policy meeting on Sept. 19-20.

13/09/2023

Most Asian currencies fell on Tuesday as Chinese service sector data pointed to more headwinds for the region’s largest economy, while the Australian dollar fell sharply after the Reserve Bank kept rates steady, as expected.

The U.S. dollar steadied near three-month highs before a slew of Federal Reserve speakers this week. While the greenback moved little in overnight trade on account of a U.S. market holiday, it has shown surprising resilience despite recent signs of cooling economic activity.

The dollar index and dollar index futures were steady in Asian trade on Tuesday. Both gauges were close to their highest levels since early-June.

Resilience in the dollar saw most Asian currencies retreat, while hotter-than-expected inflation readings from South Korea, Thailand and the Philippines also weighed on sentiment.

Several Fed officials are set to speak this week, offering more cues on monetary policy before a hotly-anticipated meeting later in September. While the bank is expected to keep interest rates steady, it is also expected to reiterate its plans to keep rates higher for longer.

Chinese service sector PMI hits 8-mth low, yuan sinks
The yuan fell 0.2% after a private survey showed that China’s service sector purchasing managers’ index (PMI) grew at its slowest pace in eight months. The reading showed that exporters in particular were facing fresh headwinds from slowing overseas demand.

Bigger losses in the yuan were somewhat eased by a stronger-than-expected daily midpoint fix by the People’s Bank, which has signaled increasing discomfort with weakness in the Chinese currency.

But sentiment towards the yuan has remained weak despite government intervention, given that Beijing has also remained largely conservative in rolling out fresh stimulus measures to support a slowing economic recovery.

Concerns over China dented most regional currencies. The Japanese yen fell 0.2%, while the South Korean won shed 0.5% after August inflation read higher than expected.

The Philippine peso was flat after a stronger-than-expected inflation reading, while the Thai baht fell 0.4% as data showed inflation grew slightly above expectations in August.

Markets fear that sticky inflation, amid rising oil prices and global supply chain disruptions, could further stymie regional economic growth.

12/09/2023

Most Asian stocks edged lower on Monday as markets remained risk-averse before more cues on U.S. inflation and interest rates, while Alibaba logged steep losses after its cloud unit boss unexpectedly quit.

Hong Kong’s Hang Seng index was by far the worst performer among its peers, down 1.6% as heavyweight technology stocks slumped. Alibaba Group (HK:9988) (NYSE:BABA) was the biggest decliner of the lot, losing more than 3% after the e-commerce giant said its outgoing CEO Daniel Zhang will also quit as CEO and chairman of its cloud unit.

Media reports over the weekend also said that Alibaba was considering putting a hold on plans to list its Freshippo grocery chain, due to a weaker-than-expected valuation outlook.

Hong Kong stocks played catch-up with their regional peers, following a trading suspension on Friday due to adverse weather conditions.

Japan’s Nikkei 225 fell 0.2%, while the TOPIX was flat as Bank of Japan Governor Kazuo Ueda said that the bank could potentially consider a pivot away from negative interest rates, ending the decades of monetary support enjoyed by local stocks.

Ueda told a local newspaper that the BOJ will have enough data by the end of the year to determine whether rates need to remain negative.

Australia’s ASX 200 was flat, taking some support from optimism over China, while futures for India’s Nifty 50 index pointed to a slightly negative open. South Korea’s KOSPI rose 0.2%, buoyed by a recovery in local tech stocks from recent losses.

A spike in U.S. Treasury yields, in anticipation of key inflation data due later this week, still pressured most Asian technology stocks. Regional stocks were also reeling from a potential escalation in a U.S.-China trade war, as Beijing barred government officials from using Apple Inc’s (NASDAQ:AAPL) iPhone.

Chinese shares rise as inflation improves
Chinese shares were the outliers among their peers on Monday, as data released over the weekend showed some improvement in the country’s deflationary trend. The Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose 0.2% and 0.4%, respectively, as data released on Saturday showed consumer price inflation rose in August after a decline in the prior month.

But producer price inflation remained in contraction, albeit at a slower pace than the prior month.

The improved inflation data was accompanied by more stimulus measures from the Chinese government, particularly a further loosening in property market restrictions.

But Chinese stocks were still trading largely negative for the year, hit by growing concerns over an economic slowdown in the country. While recent data showed some signs of improvement, China's manufacturing sector still remained under pressure from slowing demand, while service sector activity was also cooling.

12/09/2023

The U.S. dollar edged lower in early European trade Friday, but remains on track for an eighth straight winning week as U.S. economic resilience brings further Federal Reserve rate hikes into question.

At 03:10 ET (07:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 104.807, but remains not far from the previous session's six-month high of 105.15.

Further Fed rate hikes ahead?
Data released this week has painted an upbeat picture of the U.S. economy, as the services sector unexpectedly gained steam in August while jobless claims hit their lowest level since February.

The Federal Reserve is still widely expected to hold steady on rates when it meets later this month, but this economic resilience is creating uncertainty about what the Fed might do later this year.

Dallas Federal Reserve Bank President Lorie Logan said on Thursday that while "forecasts are inherently uncertain. My base case, though, is that there is work left to do,"

Her colleague, Federal Reserve Bank of New York President John Williams on Thursday said of the current setting of monetary policy, "it's pretty clear we're restrictive" but it's "still an open question as we go forward."

European economies struggle
By contrast, the economic news out of Europe has been generally more depressing.

Gross domestic product in the eurozone grew just 0.1% in the second quarter compared to the previous three months, with the dominant German manufacturing sector struggling badly.

There was some good news Friday as French industrial production grew 0.8% on the month in July, substantially better than the 0.1% growth expected and the prior month’s drop of 0.9%.

The European Central Bank has raised rates at each of its past nine meetings, but the region’s economic slowdown is pointing to a pause next week even if inflation remains elevated.

EUR/USD rose 0.2% to 1.0715, recovering to a degree having fallen to a three-month low of 1.0686 on Thursday, while GBP/USD rose 0.1% to 1.2483, having also hit a three-month low the previous session.

Chinese yuan falls to lowest level since 2008
In Asia, USD/CNY rose 0.3% to 7.3487, with the yuan slipping to its weakest level against the dollar since February 2008, weighed by rising diplomatic tensions between Beijing and Washington as well as concerns over a Chinese economic slowdown.

USD/JPY traded lower at 147.28, with the yen near a 10-month low after the Japanese government downgraded its initial growth estimate for second quarter gross domestic product.

11/09/2023

Based on the findings of a market intelligence firm, an increasing number of investment firms in the United States, the United Kingdom and Europe are appointing senior executives to lead digital asset investment strategies.

According to a recent Amberdata report titled “Digital Assets: Managers’ Data Infrastructure Fuel,“ 24% of asset management firms have adopted a digital assets strategy, with an extra 13% planning to do so in the next two years.

Organizations with a senior role dedicated to dedicated asset strategy implementation. Source: Amberdata

11/09/2023

Sam Bankman-Fried on dial-up level internet
Former FTX CEO Sam Bankman-Fried’s lawyers have again asked a court to temporarily release the former FTX boss claiming the poor internet connection in his Brooklyn prison is interfering with their trial prep.

In a Sep. 8 letter to District Judge Lewis Kaplan, Bankman-Fried’s lawyer Mark Cohen said his client can’t access an internet-enabled computer twice a week for four to five hours as previously agreed to with United States prosecutors.

Cohen’s letter to Judge Lewis Kaplan. Source: CourtListener
BlackRock’s purchase of Voyager was one big lie
Faked press release of BlackRock’s purchase of Voyager on AP. Source: Associated Press
The social media account linked at the bottom of the faked press release set its display name to “Voyager” but its handle is “.” Source: X
Remember the guy who threw 8,000 BTC in the trash?
Someone pays $500,000 in Bitcoin fees
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