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u_today:b6142219e094b:0 | BTCUSDT | Will Bitcoin Break September's Jinx? What Data Suggests | u_today | https://u.today | 2024-09-01T11:49:00+00:00 | https://www.tradingview.com/news/u_today:b6142219e094b:0-will-bitcoin-break-september-s-jinx-what-data-suggests/ | null | [{'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDC', 'logoid': 'crypto/XTVCUSDC', 'base_logoid': 'crypto/XTVCBTC'}] | /news/u_today:b6142219e094b:0-will-bitcoin-break-september-s-jinx-what-data-suggests/ | EN | Bitcoin, the largest cryptocurrency by market capitalization, ended the month of August down 8.73%, as expected based on past trends.In a recent tweet, Ali Martinez noted that while Bitcoin played out its historical narrative for August, similar expectations exist for September typically believed t… | Bitcoin, the largest cryptocurrency by market capitalization, ended the month of August down 8.73%, as expected based on past trends.
In a recent tweet, Ali Martinez noted that while Bitcoin played out its historical narrative for August, similar expectations exist for September typically believed to be a negative month for Bitcoin.
However, recent insights from Spot On Chain, shared in a thread of tweets, suggest five reasons why this year might be different.
First, negative Augusts may help to avoid a negative September. In other reasons cited, major selling pressures have cleared and long-term holders remain strong. Fourth, Bitcoin ETFs can be a renewed buying force and lastly, favorable interest rates, capital and regulations might help to boost the market in September.
Bitcoin to break September's jinx? Here are five indications
Spot On Chain’s analysis begins with a historical observation: While it is true that September usually sees a downturn, it's not a given. Nearly 43% of negative Augusts have been followed by a positive September. This year, with Bitcoin experiencing a negative August, there’s a chance that the worst may be behind it, setting up for a potential rebound.
5/ Potential buying simulators:
• FED may cut the interest rate in September, which could boost demand for risky assets like $BTC or Bitcoin ETFs.
• #FTX will repay $16B to creditors in cash, not crypto, which can be re-injected into $BTC and the broad market.
• Both US… pic.twitter.com/a2ycWxLYoc— Spot On Chain (@spotonchain) September 1, 2024
Second, selling pressure has substantially declined for Bitcoin. Three major selling forces unloaded 170,917 BTC or $10.69 billion to the market in July and August, including the German government, which sold 49,859 BTC worth $3 billion in early July and no longer holds BTC. Mt Gox repaid 95,958 BTC in July and August and still holds 44,898 BTC worth $2.65 billion, or only a third of the initial holding. GenesisTrading distributed 24,068 BTC for repayment on Aug. 2 and no longer holds BTC.
However, the U.S. government still holds 203,650 confiscated BTC worth $12 billion, and like in the German government case, this can be a big selling force. However, recent actions suggest limited near-term sell-off risk.
In 2023 and 2024, the U.S. government moved 35,516 BTC worth $1.48 billion to Coinbase at nearly $41,637, but overall there were only weak price reactions because most sales were done via OTC with minimal impact on the market.
Long-term holders, which increased their supply by 262,000 BTC in August, bringing their total holding to 14.82 million BTC, or 75% of the total supply, remain another positive factor. Similarly, BTC ETFs can be a renewed buying force, if the pattern of alternating between positive and negative months continues.
Other potential buying simulators include the likelihood of FED cutting the interest rate in September, which could boost demand for risky assets like BTC or Bitcoin ETFs. FTX will repay $16 billion to creditors in cash, not crypto, which can be reinjected into BTC and the broad market.
| crypto | null | null | null |
newsbtc:9ee608fcb094b:0 | BTCUSDT | Bitcoin In ‘Neutral’ Zone: What This Means, According To Analyst | newsbtc | https://www.newsbtc.com | 2024-09-01T09:00:10+00:00 | https://www.tradingview.com/news/newsbtc:9ee608fcb094b:0-bitcoin-in-neutral-zone-what-this-means-according-to-analyst/ | null | [{'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}] | /news/newsbtc:9ee608fcb094b:0-bitcoin-in-neutral-zone-what-this-means-according-to-analyst/ | EN | Bitcoin, the crypto market leader and largest digital asset, currently trades at $58,877 following a rather negligent price movement in the last day. According to data from CoinMarketCap, the premier cryptocurrency saw more lows than highs in August, resulting in an 8.46% decline over the month. As… | Bitcoin, the crypto market leader and largest digital asset, currently trades at $58,877 following a rather negligent price movement in the last day. According to data from CoinMarketCap, the premier cryptocurrency saw more lows than highs in August, resulting in an 8.46% decline over the month. As September begins, a CryptoQuant analyst with the username Grizzly has provided valuable insight into Bitcoin’s current price status and potential price action in the coming weeks.
Puell Multiple Index Puts Bitcoin In Decision Zone
In an X post on Saturday, Grizzly stated that there is much uncertainty around Bitcoin’s movement based on data from the token’s Puell Multiple index. For context, the Puell Multiple Index is a Bitcoin trading indicator used to measure the profitability of miners and the broader market’s price trend. It is assessed by dividing the issuance value of Bitcoin by its 365-day moving average.
According to Grizzly, when this indicator ranks between 0.6 and 0.8, as it currently is, it indicates the BTC market is a “decision zone”, with an equal potential to initiate an uptrend or a downtrend.
Generally, a dip below 0.6 indicates that Bitcoin miners are earning less than the historical average, mostly due to a decline in BTC price. Grizzly shares that such a scenario presents a good opportunity for Dollar-Cost Averaging (DCA), where investors buy Bitcoin incrementally to lower their average purchase cost over time.
Alternatively, a breakout above the 0.8 level indicates an increasing miner profitability, in tandem with rising Bitcoin prices. Based on historical price data, Grizzly states that such development usually represents the start of a bullish market.
Bitcoin Whales Count Reach 17-Month High
In other news, amidst Bitcoin’s turbulent performance in the last month that have left many retail traders with losses, the number of market whales have maintained a steady growth. According to data from on-chain analytics firm Santiment, there has been a net increase of 283 wallets holding 100+ BTC in August, bringing this metric to a 17-month high of 16,120.
An increase in market whales and asset accumulation indicates significant confidence in the token’s profitability in the long term. Thus, this rising level of BTC could be widely interpreted as a bullish signal for the coming months. However, price gains could be expected in Q4 as historical data indicates September may likely present another bearish phase.
As earlier stated Bitcoin continues to trade at around $58,877 with a 7.56% decline in the last week. Meanwhile, the asset’s trading volume is significantly down 61.93% and valued at $12.70 billion.
| crypto | null | null | null |
u_today:d3bd59207094b:0 | BTCUSDT | Important Bitcoin (BTC) $100,000 Reminder Issued by Samson Mow, Hold Tight | u_today | https://u.today | 2024-08-31T20:00:00+00:00 | https://www.tradingview.com/news/u_today:d3bd59207094b:0-important-bitcoin-btc-100-000-reminder-issued-by-samson-mow-hold-tight/ | null | [{'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDC', 'logoid': 'crypto/XTVCUSDC', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}] | /news/u_today:d3bd59207094b:0-important-bitcoin-btc-100-000-reminder-issued-by-samson-mow-hold-tight/ | EN | Samson Mow, a vocal Bitcoin maximalist and the chief executive officer at JAN3, has published a reminder to the global cryptocurrency community, talking about Bitcoin in his recent tweet."Artificial" Bitcoin priceOnce again, Mow referred to the $100,000 price level. This time, Mow hinted that Bitco… | Samson Mow, a vocal Bitcoin maximalist and the chief executive officer at JAN3, has published a reminder to the global cryptocurrency community, talking about Bitcoin in his recent tweet.
"Artificial" Bitcoin price
Once again, Mow referred to the $100,000 price level. This time, Mow hinted that Bitcoin is being artificially held under that mark. His tweet goes: “Bitcoin under $0.1M is artificial. Enjoy it while you can.”
REMINDER: #Bitcoin under $0.1M is artificial.
Enjoy it while you can. https://t.co/4sFpUumSQD— Samson Mow (@Excellion) August 31, 2024
In early June, the JAN3 boss also touched on that topic. According to that tweet, Mow believes that in order to finally surpass $100,000, the world’s largest cryptocurrency Bitcoin needs first to exceed the all-time high of $73,750 it managed to achieve in March.
After that, Mow continued, the recursive demand shock will step in and will drive BTC all the way above the $100,000 price line.
In one of his tweets published this summer, Mow said he expects Bitcoin to skyrocket to a whopping $1,000,000 within the next year. Even if it happens later than this time frame, he said later, it is still a matter of the nearest future.
Max Keiser reveals five stages of "Bitcoin mastery"
Another prominent Bitcoiner and Bitcoin advisor to El Salvador president Nayib Bukele Max Keiser has engaged in a conversation with his crypto followers on the X platform by publishing “5 stages of Bitcoin mastery.”
Those describe stages of attitude of crypto investors to Bitcoin as they begin to like and understand BTC stronger and finally come to Max Keiser’s famous thesis that “everything is going to zero against Bitcoin.”
The first stage is “I just heard about BTC, I can fix it.” The second one shows an investor’s admiration toward Bitcoin, even though it is not as high as that to altcoins. That is followed by beginning to use BTC for payments (adoption). Then Bitcoin becomes a new asset class for investors and the “best store of value ever.”
5 stages of Bitcoin mastery:
1. just heard about BTC, I can fix it
2. BTC’s great, my shitcoin’s better
3. payments = adoption, not store of value
4. BTC = new asset class; best store of value ever
5. everything goes to zero against BTC
🇸🇻 is on # 3
# 4 soon.— Max Keiser (@maxkeiser) August 30, 2024
By saying that the third stage is being implemented in El Salvador now, where Keiser is the president’s advisor on BTC, he admitted that these stages do not only describe retail investors but also countries. Keiser expects the fourth stage (“BTC = new asset class; best store of value ever”) to arrive soon in the U.S. as well.
| crypto | null | null | null |
beincrypto:a61894513094b:0 | BTCUSDT | Bitcoin Braces For Potential September Downturn; Matrixport Highlights Key Risks | beincrypto | https://beincrypto.com/ | 2024-08-31T12:00:00+00:00 | https://www.tradingview.com/news/beincrypto:a61894513094b:0-bitcoin-braces-for-potential-september-downturn-matrixport-highlights-key-risks/ | null | [{'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}] | /news/beincrypto:a61894513094b:0-bitcoin-braces-for-potential-september-downturn-matrixport-highlights-key-risks/ | EN | Bitcoin investors are bracing for September, historically the worst month for the cryptocurrency’s price. Digital assets platform Matrixport has issued a warning, suggesting Bitcoin could see further declines this month due to various looming risk factors.Matrixport highlighted that Bitcoin faces a… | Bitcoin investors are bracing for September, historically the worst month for the cryptocurrency’s price. Digital assets platform Matrixport has issued a warning, suggesting Bitcoin could see further declines this month due to various looming risk factors.
Matrixport highlighted that Bitcoin faces additional pressure this year, which could impact its price. In its Matrix on Target report, the firm pointed to several key influences, including the US tech sector’s outlook, the Federal Reserve’s decisions, and the upcoming presidential debates, all of which could weigh on Bitcoin’s performance.
Key Factors Impacting Bitcoin’s September Performance
Matrixport noted a strong correlation between AI giant NVIDIA and Bitcoin from late 2022 through the second quarter of 2024. However, Bitcoin has recently lagged behind the AI rally, as seen in NVIDIA’s outperformance. But with both assets now making lower highs, this suggests that there is the potential for a deeper correction.
Last week, NVIDIA’s shares dropped by about 8%, despite exceeding Q2 earnings expectations. Similarly, Bitcoin’s price fell by a similar margin, even with substantial inflows into spot ETFs.
Macroeconomic factors, such as US employment data and potential inflation control measures, could also influence Bitcoin. Federal Reserve Chair Jerome Powell has signaled that interest rate cuts are likely, boosting optimism among investors who believe lower rates could benefit Bitcoin.
However, Matrixport cautioned that historical patterns suggest a less straightforward outcome. During the 2018/2019 rate-hiking cycle, Bitcoin struggled but rallied when the Fed paused rates. When rates were eventually cut, Bitcoin experienced a brief rally followed by a gradual decline, interrupted only by further rate cuts.
This historical pattern introduces uncertainty about Bitcoin’s response to the anticipated rate cut.
The upcoming US election adds to the uncertainty surrounding Bitcoin. While many in the crypto industry favor a Donald Trump presidency, Vice President Kamala Harris has gained significant support, bolstering her campaign.
With both candidates expected to face off in debates imminently, this raises concerns about how the results could impact Bitcoin. A strong debate performance could boost the industry due to Trump’s pro-Bitcoin stance. Conversely, Harris’ victory could introduce further uncertainty, as she has not publicly clarified her position on the leading cryptocurrency.
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newsbtc:787d3ac3b094b:0 | BTCUSDT | Bitcoin Continues To Exit Exchanges As Supply Drops To New 2024 Low | newsbtc | https://www.newsbtc.com | 2024-08-30T23:00:42+00:00 | https://www.tradingview.com/news/newsbtc:787d3ac3b094b:0-bitcoin-continues-to-exit-exchanges-as-supply-drops-to-new-2024-low/ | null | [{'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}] | /news/newsbtc:787d3ac3b094b:0-bitcoin-continues-to-exit-exchanges-as-supply-drops-to-new-2024-low/ | EN | On-chain data shows the Bitcoin supply sitting on exchanges has reached a new low for the year as investors continue to withdraw their coins.Bitcoin Exchange Reserve Has Been Riding A Downtrend RecentlyAs explained by an analyst in a CryptoQuant Quicktake post, the BTC Exchange Reserve has continue… | On-chain data shows the Bitcoin supply sitting on exchanges has reached a new low for the year as investors continue to withdraw their coins.
Bitcoin Exchange Reserve Has Been Riding A Downtrend Recently
As explained by an analyst in a CryptoQuant Quicktake post, the BTC Exchange Reserve has continued its drawdown recently. The “Exchange Reserve” here refers to an indicator that keeps track of the total amount of Bitcoin that’s currently sitting in the wallets of all centralized exchanges.
When the value of this metric goes up, it means the investors are depositing a net number of tokens to these platforms right now. As one of the main reasons why investors would transfer their coins to exchanges is for selling-related purposes, this kind of trend can lead to a bearish outcome for the asset’s price.
On the other hand, the indicator’s value heading in a downwards trajectory suggests the holders are withdrawing their BTC from the custody of the exchanges. Such a trend can be bullish for the cryptocurrency as it implies investors are in accumulation mode.
Now, here is a chart that shows the trend in the Bitcoin Exchange Reserve since the start of the year 2024:
As displayed in the above graph, the Bitcoin Exchange Reserve has been declining throughout the year, implying that investors have constantly been shifting their coins off into self-custody.
From the graph, it’s visible that a particularly sharp downwards move in the indicator has come as BTC has dropped under the $60,000 level, a potential sign that these coins taken off the exchanges were just freshly bought by their investors, who were looking to take advantage of the price dip.
The drawdown that the Bitcoin Exchange Reserve has been witnessing during the last few months is naturally a positive development for the asset, as it means there is possibly lesser coins that can add to the selling pressure in the market.
But the bullish effect on the price isn’t the only benefit for the cryptocurrency here, as the overall downtrend in the metric implies supply is becoming less concentrated on these platforms.
Exchanges are centralized entities and when investors deposit their coins into wallets associated with them, they lose real ownership over the coins (at least until they withdraw), with them coming under the management of the platform itself.
This means that any mishaps with the exchange, whether a hack or something else, also ends up affecting its users’ holdings. As the FTX collapse showed back in 2022, large exchanges going through destabilization can also destabilize the entire market.
Thus, the less the amount of the supply that these platforms hold, the less should their influence be on the sector. In this view, Bitcoin investors continuing to take their coins off into self-custody is naturally a constructive development.
BTC Price
At the time of writing, Bitcoin is floating around $59,800, down 2% over the last seven days.
| crypto | null | null | null |
beincrypto:a567fcc5e094b:0 | BTCUSDT | 5 Best Crypto Traders to Follow in September 2024 | beincrypto | https://beincrypto.com/ | 2024-08-30T22:30:00+00:00 | https://www.tradingview.com/news/beincrypto:a567fcc5e094b:0-5-best-crypto-traders-to-follow-in-september-2024/ | null | [{'symbol': 'BINANCE:BTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BINANCE:XRPUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXRP'}, {'symbol': 'BINANCE:SOLUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCSOL'}, {'symbol': 'BINANCE:LINKUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCLINK'}] | /news/beincrypto:a567fcc5e094b:0-5-best-crypto-traders-to-follow-in-september-2024/ | EN | In the crypto market, staying ahead of the curve demands more than just surface-level knowledge. Often, it involves following top crypto traders who offer insights that average investors might miss.Some traders have consistently navigated this highly volatile market with skill and precision. As we… | In the crypto market, staying ahead of the curve demands more than just surface-level knowledge. Often, it involves following top crypto traders who offer insights that average investors might miss.
Some traders have consistently navigated this highly volatile market with skill and precision. As we enter September, here are five of the best crypto traders you should consider keeping an eye on.
Crypto Tony
Crypto Tony is one of the best crypto traders to follow in September 2024. With over 448,000 followers on X, Tony regularly advises newbies not to use leverage and to keep to the basics, making him one of the most sought-after traders for beginners.
An assessment of the analyst’s page shows that his focus is on Bitcoin BINANCE:BTCUSD. Altcoins like Ripple BINANCE:XRPUSD, as well as the top meme coins, are part of the analysis Tony shares. In a recent post, the trader posted his thesis on Polkadot (DOT).
According to Tony, DOT, which has seen a notable decline recently, could offer a good entry point for a future purchase.
Pentosh1
Pentosh1 is a pseudonymous crypto trader with over 800,000 followers on X, famous for his short-term analysis of Bitcoin and altcoins. In July, Pentosh1 opined that altcoins might remain stuck in low ranges after most had fallen 15% to 20% from their bear market lows.
Interestingly, this has largely been the case since his prediction. Regarding Bitcoin, Pentosh1 suggests that the cryptocurrency could rally to a new all-time high soon.
“Believe it only to be a matter of time before BTC hits a new ATH. Look at the last 6 months alone, an ETF approval that has been the most successful ETF in history and is now capturing a large portion of the political environment with multiple nation-states discussing it on top,” he posted.
Benjamin Cowen
Third on this list is Bejaminn Cowen, who previously appeared on the best crypto traders list in June. Cowen’s emergence is again linked to his expertise in providing detailed analysis from a technical and macroeconomic perspective.
Unlike Pentosh1 and Crypto Tony, who focus on X, Cowen manages a YouTube page in addition to his X account. On YouTube, the trader has 809,000 subscribers. On X, Cowen, who is the founder and CEO of IntoTheCryptoverse, boasts 852,000 followers.
Two days ago, the analyst shared his opinion on Solana BINANCE:SOLUSD, noting that the altcoin’s price decline does not mean that the correction is over. However, Cowen also admits that a recovery might not take a long period, but a fall looks likely before that.
Bluntz Capital
With 273,300 followers on X, Bluntz focuses on the top two cryptos: Bitcoin and Ethereum . Recently, in a post on the social media platform, the trader explained that BTC’s price might struggle from now till October.
For ETH, Bluntz revealed that crypto whales might soon start selling Bitcoin for Ethereum, possibly helping the altcoin price breakout.
“The range is about to be reclaimed, and the 3D bull div is on ETHBTC brewing, and whales are selling BTC into ETH for the first time in this cycle,” Blutnz wrote.
Apart from these two, Bluntz, who the market sees as one of the best crypto traders, also analyzes meme coins. On August 25, the trader told his followers that it might be time for cat-themed meme coins to dominate the market again after a relatively quiet period.
CrediBULL Crypto
CrediBULL Crypto, a trader with 415,500 followers on X, mostly shares theses on altcoins. On his page, you will find analysis related to Chainlink BINANCE:LINKUSD, ETH, and even DeFi coins like Curve (CRV).
However, this trader engages in leverage trading. As such, the risk appetite might not be one for beginners who are likely to be comfortable with holding spot positions. Nevertheless, CrediBULL Crypto remains one of the best traders to follow in September 2024.
In conclusion, while the five traders highlighted in this article have demonstrated their reliability, it’s crucial to make your own trading decisions. Following these traders can help you build confidence and improve your technical and fundamental analysis skills.
However, the crypto market’s unpredictable nature can present challenges. To maximize potential returns, always conduct your own research.
| crypto | null | null | null |
cointelegraph:06987b17e094b:0 | BTCUSDT | Scientific paper argues Bitcoin mining can reduce methane emissions | cointelegraph | https://cointelegraph.com | 2024-08-30T22:03:00+00:00 | https://www.tradingview.com/news/cointelegraph:06987b17e094b:0-scientific-paper-argues-bitcoin-mining-can-reduce-methane-emissions/ | null | [{'symbol': 'BINANCE:BTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}] | /news/cointelegraph:06987b17e094b:0-scientific-paper-argues-bitcoin-mining-can-reduce-methane-emissions/ | EN | A new peer-reviewed scientific paper, titled An integrated landfill gas-to-energy and Bitcoin mining framework, appearing in the Aug. 29 edition of the Journal of Cleaner Production, demonstrated how Bitcoin BINANCE:BTCUSD mining could reduce methane emissions.The research paper detailed how Bitcoi… | A new peer-reviewed scientific paper, titled An integrated landfill gas-to-energy and Bitcoin mining framework, appearing in the Aug. 29 edition of the Journal of Cleaner Production, demonstrated how Bitcoin BINANCE:BTCUSD mining could reduce methane emissions.
The research paper detailed how Bitcoin miners are uniquely positioned to leverage "Landfill Gas to Energy" (LFGTE) systems that capture and convert methane gas from garbage landfills into usable energy—sequestering the greenhouse gas and reducing its harmful effects on the atmosphere.
Bitcoin mining features the proper incentive structure for such a capital-intensive, long-term commitment project, which other private enterprises lack due to the absence of sustainable revenue generation and cost recovery strategies, the authors of the paper argued. According to the researchers:
"Bitcoin’s economic incentives, available globally for miners in any location, may offer an innovative solution for encouraging methane mitigation without the need for government incentives—presenting a scalable and novel solution for rapid deployment."Additionally, the researchers noted that this incentive structure isn't limited to methane emissions, but could also be used to recycle underutilized energy in the form of "Orphaned oil, gas wells, wastewater treatment plants, farms, and agricultural processing operations."
Marathon Digital capitalizes on LFGTE systems
In 2023, MARA, formerly known as Marathon Digital, teamed up with Nodal Power to mine Bitcoin using methane gas in Utah. At the time the 280-kilowatt initiative was first announced, MARA Chairman and CEO Fred Thiel had this to say:
“At Marathon, we are constantly seeking innovative ways to diversify our operations, lower our energy costs, and leverage the unique aspects of Bitcoin mining to better the environments in which we operate.”In May 2024, the company furthered this mission statement by signing a deal with the Kenyan government to develop renewable energy infrastructure inside the country.
Findings corroborated by other research papers
The recent research paper appearing in the Journal of Cleaner Production wasn't the first to touch on the theme of Bitcoin miners reducing emissions by repurposing underused energy sources.
In 2023, a research study published by the Institute of Risk Management found that Bitcoin mining operations could reduce global emissions by around 8% by 2030.
| crypto | null | null | null |
DJN_SN20240830011761:0 | SPX | Here are the S&P 500's best-performing stocks in August | market-watch | https://www.tradingview.com/news/providers/market-watch/ | 2024-08-30T21:49:00+00:00 | https://www.tradingview.com/news/DJN_SN20240830011761:0/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'NASDAQ:ACGL', 'base_logoid': 'arch-capital'}, {'symbol': 'NYSE:LLY', 'base_logoid': 'eli-lilly'}, {'symbol': 'NYSE:PGR', 'base_logoid': 'progressive-ohio'}, {'symbol': 'NASDAQ:SBUX', 'base_logoid': 'starbucks'}, {'symbol': 'NYSE:K', 'base_logoid': 'kellogg'}, {'symbol': 'NYSE:CLX', 'base_logoid': 'clorox'}, {'symbol': 'NASDAQ:CRWD', 'base_logoid': 'crowdstrike'}, {'symbol': 'NASDAQ:AXON', 'base_logoid': 'axon-enterprise'}, {'symbol': 'NASDAQ:FTNT', 'base_logoid': 'fortinet'}, {'symbol': 'NYSE:KVUE', 'base_logoid': 'kenvue'}] | /news/DJN_SN20240830011761:0/ | EN | By Philip van DoornKellanova led the list after accepting a takeout offer from Mars, while Starbucks might have been the month's biggest positive surpriseAugust was a month of increased volatility for the S&P 500. But a 6.1% slide during the first three trading sessions of the month was reversed, a… | By Philip van Doorn
Kellanova led the list after accepting a takeout offer from Mars, while Starbucks might have been the month's biggest positive surprise
August was a month of increased volatility for the S&P 500. But a 6.1% slide during the first three trading sessions of the month was reversed, and the U.S. large-cap benchmark index ended August with a 2.3% gain.
So far this year, the S&P 500 SPX has risen 18.4%, following a 24.2% gain in 2023. All price changes in this article exclude dividends.
Here's how the 11 sectors of the S&P 500 performed during August, along with year-to-date price changes and those for the previous two years, with the full index at the bottom:
Sector or index August price change 2024 price change 2023 price change 2022 price change
Consumer Staples 5.8% 15.8% -2.2% -3.2%
Real Estate 5.6% 8.5% 8.3% -28.4%
Healthcare 5.0% 15.0% 0.3% -3.6%
Financials 4.4% 21.2% 9.9% -12.4%
Utilities 4.3% 19.8% -10.2% -1.4%
Industrials 2.7% 15.1% 16.0% -7.1%
Materials 2.2% 10.0% 10.2% -14.1%
Communication Services 1.2% 22.3% 54.4% -40.4%
Information Technology 1.2% 26.5% 56.4% -28.9%
Consumer Discretionary -1.1% 5.8% 41.0% -37.6%
Energy -2.3% 8.7% -4.8% 59.0%
S&P 500 2.3% 18.4% 24.2% -19.4%
Source: FactSet As investors looked ahead to a cycle of interest-rate cuts by the Federal Reserve, it might not have been such a surprise to see value-oriented sectors of the stock market coming to the fore during August. Slower-growing companies that trade relatively low to earnings, sales or book value might see more of a benefit from lower interest rates, because they tend to have a higher level of borrowings than rapidly growing Big Tech companies whose expansion is driven by cash flow.
Federal Reserve Chair Jerome Powell's statement at the Jackson Hole Economic Policy Symposium on Aug. 23 that "the time has come" for lower interest rates sets the stage for a cycle of cuts to the federal-funds rate, beginning with Federal Open Market Committee's two-day policy meeting in September.
Best-performing stocks of August
Among the S&P 500, 71% of stocks showed gains for the month, with 52 rising by double-digit percentages - led by these 10:
Axon Enterprise Inc. Ticker August price change 2024 price change 2023 price change 2022 price change
Kellanova K 38.6% 44.2% -22% 11%
Fortinet Inc. FTNT 32.2% 31.1% 20% -32%
Axon Enterprise Inc AXON 21.7% 41.3% 56% 6%
Starbucks Corp. SBUX 21.3% -1.5% -3% -15%
Clorox Co. CLX 20.0% 11.0% 2% -20%
CrowdStrike Holdings Inc. CRWD 19.5% 8.6% 142% -49%
Eli Lilly and Co. LLY 19.4% 64.7% 59% 32%
Kenvue Inc. KVUE 18.7% 2.0% N/A N/A
Arch Capital Group Ltd. ACGL 18.1% 52.3% 18% 41%
Progressive Corp. PGR 17.8% 58.3% 23% 26%
Source: FactSet Read: Tomi Kilgore's guide to the wealth of information available for free on the MarketWatch quote page.
Kellanova (K) was formerly known as Kellogg's before that company split off its cereal business to the newly formed WK Kellogg Co. (KLG) in October.
Kellanova, which owns snack brands including Pringles and Cheez-It, agreed on Aug. 14 to be acquired by Mars for $83.50 per share in cash, or about $35.9 billion. Kellanova's shares closed Friday at $80.53 - a 4% discount to the takeout price.
Read: Mars-Kellanova deal likely to avoid antitrust hurdles and open door for more M&A
Shares of Starbucks Corp. (SBUX) ended the month with a 21.3% gain, and are now down only slightly for 2024. Following a dismal quarterly earnings report on July 30, investors cheered on Aug. 13 after the company said Brian Nicol would become its new chief executive in September - sending the stock up 24% that day. Nicol will leave his current position as CEO of Chipotle Mexican Grill Inc. (CMG) on Saturday.
After finishing as the second-worst performer in the S&P 500 during July, CrowdStrike Holdings Inc.'s (CRWD) stock bounced back in August to rank as the index's sixth-largest gainer. Investors had been worried about the impact of a CrowdStrike software update that spurred a major July technology outage and angered customers who lost out on business. But CrowdStrike reset expectations when it reported earnings this week, cutting its guidance but reassuring investors that customers still wanted to do business with it.
Fellow cybersecurity company Fortinet Inc. (FTNT) impressed with its own outlook earlier in the month. That came after a disappointing report a quarter earlier.
Worst performing stocks of August: Super Micro offers investors a bit of relief after stock's worst month on record
Don't miss: This approach to dividend stocks can diversify your S&P 500 index-fund exposure
Emily Bary contributed to this article.
-Philip van Doorn
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
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tag:reuters.com,2024:newsml_L1N3KH0WS:0 | SPX | Stocks end turbulent month higher as US data sets stage for rate cut | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T21:14:20+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0WS:0-stocks-end-turbulent-month-higher-as-us-data-sets-stage-for-rate-cut/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'TVC:SXXP', 'base_logoid': 'indices/stoxx-600'}, {'symbol': 'TVC:US10Y', 'base_logoid': 'country/US'}, {'symbol': 'TVC:DXY', 'base_logoid': 'indices/u-s-dollar-index'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'FX:EURUSD', 'logoid': 'country/US', 'base_logoid': 'country/EU'}, {'symbol': 'TVC:NI225', 'base_logoid': 'indices/nikkei-225'}, {'symbol': 'ICEEUR:BRN1!', 'base_logoid': 'crude-oil'}, {'symbol': 'NYMEX:CL1!', 'base_logoid': 'crude-oil'}, {'symbol': 'TVC:GOLD', 'base_logoid': 'metal/gold'}] | /news/reuters.com,2024:newsml_L1N3KH0WS:0-stocks-end-turbulent-month-higher-as-us-data-sets-stage-for-rate-cut/ | EN | Global stocks edged higher in choppy trading on Friday, making it the fourth consecutive month of gains despite a bout of heavy selling in early August, buoyed by U.S. economic data that has helped the dollar snap a weeks-long losing streak. The U.S. personal consumption expenditures (PCE) price… | Global stocks edged higher in choppy trading on Friday, making it the fourth consecutive month of gains despite a bout of heavy selling in early August, buoyed by U.S. economic data that has helped the dollar snap a weeks-long losing streak.
The U.S. personal consumption expenditures (PCE) price index - which is the Federal Reserve's preferred inflation measure - rose 0.2% in July, according to Commerce Department data released on Friday.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.5% last month, the report showed. The data sets the stage for the Fed to likely begin easing monetary policy from September.
The Dow Jones Industrial Average DJ:DJI finished up 0.55% to 41,563.08, reaching the second consecutive record high close. Benchmark S&P 500 SP:SPX gained 1.01% to 5,648.40 and the Nasdaq Composite TVC:IXIC gained 1.13% to 17,713.62. For the month, the Dow finished up 1.8%, S&P 500 added 2.3%, and the Nasdaq gained 0.6%.
Europe's Stoxx index TVC:SXXP closed up 0.09% after touching a record intraday high while Britain's FTSE 100 CURRENCYCOM:UK100 eased 0.04%. MSCI's world share index EURONEXT:IACWI rose 0.77%, making it a 2.40% monthly gain.
The stunning recovery from an early August sell-off reminiscent of October 1987's "Black Monday" came as traders priced a so-called Goldilocks scenario, in which the U.S. economy keeps growing but not so much as to prevent interest rate cuts.
Money markets are confidently pricing the Fed's first 25 basis point cut of this cycle at its September meeting, with a 33% chance of a jumbo 50 bp reduction.
The U.S. economy grew faster than initially thought in the second quarter of this year because of strong consumer spending, and corporate profits, a report on Thursday showed.
"The last few days we've started out a little stronger and then drifted during the day and in many cases closed either break even or slightly positive or slightly negative," said Tom Plumb, chief executive and portfolio manager at Plumb Funds.
"I think that is a sign of a cycle where you start to see people transition to a different environment and it's not positive for the past leaders," he added, referring to the so-called "Magnificent 7" tech stocks that were at the forefront of this year's stock market rally.
Government bonds rallied in early August after a weaker-than-expected U.S. jobs report and a surprise Bank of Japan rate hike wreaked chaos in currency carry trades and drove heavy selling of risky assets.
The yield on benchmark U.S. 10-year notes TVC:US10Y, which moves inversely to prices, rose 4.2 basis points on Friday to 3.909%. The 2-year note (US2YT=RR) yield, which typically moves in step with interest rate expectations, rose 2.4 basis points to 3.9165%.
"As we're starting to lay out what our expectations are for an environment with lower interest rates, at least lower short term rates... we're already starting to see a change in the shape of the yield curve, which impacts the bond market but also the stock market," Plumb added.
EURO FLAT
The dollar TVC:DXY steadied near a one-week high versus a basket of other major currencies, on track to snap a five-week losing streak although still heading for around a 2.5% monthly loss.
Against the yen FX_IDC:USDJPY, the dollar stood at 146.14, set to lose more than 2.5% for the month, as pressure eased on the Japanese currency on the prospect of narrowing interest rate differentials.
Core inflation in Japan's capital Tokyo accelerated for a fourth straight month in August, data showed on Friday, with the 2.4% price increase signalling further BoJ rate hikes ahead.
The euro FX:EURUSD was down 0.2% at $1.105, having declined on Thursday after softer-than-expected German inflation data increased bets on further European Central Bank rate cuts.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.48% and ended the month 2% higher. Japan's Nikkei TVC:NI225, following its early August collapse, was down 1.16% for the month after rising 0.74% on Friday.
Oil prices fell. Brent crude futures for October delivery ICEEUR:BRN1!, which expire on Friday, settled 1.43% at $78.80 a barrel, marking a decline of 0.3% for the week and 2.4% for the month.
U.S. West Texas Intermediate crude NYMEX:CL1! futures settled down 3.11% to $73.55, a drop of 1.7% in the week and a 3.6% decline in August.
Gold prices weakened but looking at a 2.8% monthly gain. Spot gold TVC:GOLD lost 0.74% to $2,502.44 an ounce. U.S. gold futures TVC:GOLD settled 1.3% lower at $2,527.6
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tag:reuters.com,2024:newsml_L1N3KH0YE:0 | USDJPY | Dow notches record high close after upbeat economic data | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T21:04:18+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0YE:0-dow-notches-record-high-close-after-upbeat-economic-data/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'NASDAQ:AMZN', 'base_logoid': 'amazon'}, {'symbol': 'NASDAQ:TSLA', 'base_logoid': 'tesla'}, {'symbol': 'NASDAQ:AVGO', 'base_logoid': 'broadcom'}, {'symbol': 'NASDAQ:MRVL', 'base_logoid': 'marvell-tech'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:S5COND', 'base_logoid': 'sector/consumer-discretionary'}, {'symbol': 'SP:S5INDU', 'base_logoid': 'sector/industrial'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'NASDAQ:NVAX', 'base_logoid': 'novavax'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'NYSE:DELL', 'base_logoid': 'dell'}, {'symbol': 'NASDAQ:DJT', 'base_logoid': 'digital-world-acquisition-corp'}, {'symbol': 'CBOT_MINI:YM1!', 'base_logoid': 'indices/dow-30'}, {'symbol': 'CME_MINI:ES1!', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'CME_MINI:NQ1!', 'base_logoid': 'indices/nasdaq-100'}] | /news/reuters.com,2024:newsml_L1N3KH0YE:0-dow-notches-record-high-close-after-upbeat-economic-data/ | EN | Wall Street stocks rose and the Dow scored a second consecutive all-time closing high on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.U.S. consumer spending increased solidly in July… | Wall Street stocks rose and the Dow scored a second consecutive all-time closing high on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.
U.S. consumer spending increased solidly in July, suggesting the economy remained strong while prices rose moderately.
"Investors are seeing another sign of being in a soft landing," said Cameron Dawson, chief investment officer at Newedge Wealth. "It's another one of those Goldilocks kind of reports really threading a needle right down the center. The market is really getting exactly what it wanted."
A "just-right" Goldilocks economy has steady growth, but not too much that it fuels excessive inflation.
Amazon.com NASDAQ:AMZN and Tesla NASDAQ:TSLA each jumped over 3%.
Broadcom NASDAQ:AVGO rallied nearly 4%, while Marvell Technology NASDAQ:MRVL surged 9% after the chipmaker forecast quarterly results above estimates.
The personal consumption expenditures report came on Friday after Fed Chair Jerome Powell last week expressed support for an imminent policy adjustment.
Economic data next week includes the Labor Department's August jobs report, due on Friday.
Money markets suggest traders mostly expect the Fed to cut rates by 25 basis points in September, with odds of a 50 basis point cut dimming further after Friday's data, according to CME Group's FedWatch Tool.
Friday ended a tumultuous month on Wall Street after signs of a sudden moderation in the labor market in early August sparked fears of a U.S. recession. The influence of the Japanese yen FX_IDC:USDJPY carry trade worsened the rout.
Shares have rebounded since then, with the S&P 500 trading near record highs.
Ahead of Monday's U.S. stock market holiday for Labor Day, volume on U.S. exchanges was relatively light, with 11.2 billion shares traded, compared to an average of 11.4 billion shares over the previous 20 sessions.
The S&P 500 SP:SPX climbed 1.01% to end at 5,648.40 points.
The Nasdaq Composite Index TVC:IXIC climbed 1.13% to 17,713.62 points, while the Dow Jones Industrial Average DJ:DJI rose 0.55% to 41,563.08 points.
All 11 S&P 500 sector indexes rose, led by consumer discretionary SP:S5COND, up 1.9%, followed by a 1.1% gain in industrials SP:S5INDU.
For the month, the S&P 500 rose 2.3%, the Dow added 1.8% and the Nasdaq climbed 0.6%.
Nvidia NASDAQ:NVDA rose 1.5%, rebounding from a 6.4% drop on Thursday after the artificial intelligence-chip bellwether failed to match sky-high investor expectations, despite upbeat results and a broadly in-line forecast.
Novavax NASDAQ:NVAX surged 8.6% after the U.S. Food and Drug Administration granted emergency use authorization for an updated version of its COVID shot.
Ulta Beauty NASDAQ:ULTA slid 4% after it trimmed its annual results forecasts, citing slowing demand for higher-priced cosmetics and fragrances at its stores.
Intel NASDAQ:INTC jumped almost 10% following a report it was exploring options that could include a merger.
Dell Technologies NYSE:DELL, another AI-related stock, advanced 4.3% after lifting its annual revenue and profit forecasts.
Shares of Trump Media & Technology Group NASDAQ:DJT, majority owned by former U.S. President Donald Trump, dipped 1.7% to a record low, leaving its stock market value at $3.9 billion.
Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 6.6-to-one ratio.
The S&P 500 posted 79 new highs and two new lows; the Nasdaq recorded 84 new highs and 77 new lows.
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beincrypto:ca2ee586d094b:0 | BTCUSDT | Bitcoin (BTC) Faces One-Month Countdown to Potentially Lucrative Q4 | beincrypto | https://beincrypto.com/ | 2024-08-30T21:00:00+00:00 | https://www.tradingview.com/news/beincrypto:ca2ee586d094b:0-bitcoin-btc-faces-one-month-countdown-to-potentially-lucrative-q4/ | null | [{'symbol': 'BINANCE:BTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}] | /news/beincrypto:ca2ee586d094b:0-bitcoin-btc-faces-one-month-countdown-to-potentially-lucrative-q4/ | EN | Bitcoin’s BINANCE:BTCUSD price has experienced varying levels of return for each quarter of the last five years. However, one thing synonymous with these periods is how the coin produces a positive return between October and December.With September approaching, BTC could be close to another season… | Bitcoin’s BINANCE:BTCUSD price has experienced varying levels of return for each quarter of the last five years. However, one thing synonymous with these periods is how the coin produces a positive return between October and December.
With September approaching, BTC could be close to another season where the price might go on a parabolic rally. Will it be the same this time?
What History Says About Bitcoin Performance in Q4
Historically, Bitcoin’s price tends to underperform in the third quarter (Q3). However, according to a chart shared by analyst Axel Adler, Bitcoin has seen an average increase of 26% every fourth quarter (Q4) since 2019.
For example, in October 2023, BTC traded around $26,000. By December, it had surged to $44,000. In contrast, Bitcoin didn’t achieve such gains in 2022 due to the FTX contagion, which pushed the market into a bear phase.
In 2021, Bitcoin rose from $40,000 to $69,000 between September and November, before experiencing a slight decline in December. A similar pattern occurred in 2020 when BTC’s price doubled during Q4.
If this pattern holds true, Bitcoin’s price could be poised for a significant increase once September ends. To gauge this potential, it’s crucial to evaluate the current market conditions surrounding the coin.
BeInCrypto specifically examines the Realized Price, which represents the average price the entire market paid for Bitcoin. Historically, this metric has served as an on-chain support or resistance level for BTC.
At press time, Bitcoin’s Realized Price is $31,400. This value appears to be providing support for the cryptocurrency, as indicated by the CryptoQuant chart below. For the Realized Price to act as resistance, it would need to align with or exceed Bitcoin’s current market value.
When this happens, the value tends to decrease afterward. Therefore, the current value of the metric suggests that Bitcoin still has a good upside potential. Hence, a significant price increase could be likely by Q4 and before the end of this year.
BTC Price Prediction: The Coin Hints at a 24% Gain, But First…
As of this writing, Bitcoin is trading at $59,551, down from $64,452. Notably, this price is hovering around the 200-day Exponential Moving Average (EMA), a key technical indicator that measures trend direction. The 200 EMA (blue) offers insights into the long-term trend.
When the 200 EMA rises above Bitcoin’s price, it often stalls the uptrend or pulls it down. Conversely, when the 200 EMA is below the price, it creates room for Bitcoin to grow. Currently, if BTC fails to climb above this indicator, its price could drop to $57,818 or potentially as low as $54,474.
The Chaikin Money Flow (CMF), which tracks the flow of liquidity into a cryptocurrency, also supports the possibility of a decline. The CMF reading has dropped, signaling a decrease in buying pressure.
However, if past performance is any indication, BTC could rise by 24% in the early months of Q4, pushing the coin’s price to $71,974. On the other hand, if the broader market experiences a significant decline in capital inflow, this prediction could be invalidated, potentially causing Bitcoin’s price to fall to $49,068.
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te_news:427063:0 | SPX | The Dow Jones Index Closes 0.55% Higher | trading-economics | https://www.tradingview.com/news/providers/trading-economics/ | 2024-08-30T20:35:08+00:00 | https://www.tradingview.com/news/te_news:427063:0-the-dow-jones-index-closes-0-55-higher/ | null | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'SEED_SMAYXOR_GEX:SPX', 'logoid': '', 'base_logoid': ''}, {'symbol': 'SEED_SZILKA88_TANUKI:SPX', 'logoid': '', 'base_logoid': ''}] | /news/te_news:427063:0-the-dow-jones-index-closes-0-55-higher/ | EN | In New York, the Dow Jones Index gained 228 points or 0.55 percent on Friday.Gains were led by Intel (9.54%), Amazon (3.78%) and IBM (1.55%).Biggest losers were Salesforce (-1.84%), Dow (-0.56%) and American Express (-0.31%). | In New York, the Dow Jones Index gained 228 points or 0.55 percent on Friday.
Gains were led by Intel (9.54%), Amazon (3.78%) and IBM (1.55%).
Biggest losers were Salesforce (-1.84%), Dow (-0.56%) and American Express (-0.31%).
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DJN_DN20240830008774:0 | SPX | S&P 500 Rises 2.28% This Month to 5648.40 — Data Talk | dow-jones | https://www.tradingview.com/news/providers/dow-jones/ | 2024-08-30T20:31:00+00:00 | https://www.tradingview.com/news/DJN_DN20240830008774:0-s-p-500-rises-2-28-this-month-to-5648-40-data-talk/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}] | /news/DJN_DN20240830008774:0-s-p-500-rises-2-28-this-month-to-5648-40-data-talk/ | EN | The S&P 500 Index is up 126.10 points or 2.28% this month to 5648.40Data based on preliminary market closing valuesSource: Dow Jones Market Data, FactSet | The S&P 500 Index is up 126.10 points or 2.28% this month to 5648.40
Largest one-month point and percentage gain since June 2024Up for four consecutive monthsUp 612.71 points or 12.17% over the last four monthsLargest four-month point and percentage gain since March 2024Longest winning streak since March 2024 when the market rose for five straight monthsUp nine of the past 10 monthsThis week it is up 13.79 points or 0.24%Up for three consecutive weeksUp 304.24 points or 5.69% over the last three weeksLargest three-week point and percentage gain since the week ending Nov. 17, 2023Today it is up 56.44 points or 1.01%Second highest close in historyLargest one-day point and percentage gain since Friday, Aug. 23, 2024Snaps a two-trading-day losing streakOff 0.33% from its record close of 5667.20 hit Tuesday, July 16, 2024Up 67.65% from the Election Day close of 3369.16 on Tuesday, Nov. 3, 2020Up 46.64% from the Inauguration Day close of 3851.85 on Wednesday, Jan. 20, 2021Today's closing value is the second highest this yearHighest closing value since Tuesday, July 16, 2024Off 0.33% from its 52-week high of 5667.20 hit Tuesday, July 16, 2024Up 37.18% from its 52-week low of 4117.37 hit Friday, Oct. 27, 2023Rose 25.08% from 52 weeks agoOff 0.33% from its 2024 closing high of 5667.20 hit Tuesday, July 16, 2024Up 20.47% from its 2024 closing low of 4688.68 hit Thursday, Jan. 4, 2024Year-to-date it is up 878.57 points or 18.42%Data based on preliminary market closing values
Source: Dow Jones Market Data, FactSet
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urn:newsml:mtnewswires.com:20240830:A3214540:0 | SPX | Dow Stretches Record Closing Run; S&P 500, Nasdaq Rise | mt-newswires | https://www.tradingview.com/news/providers/mt-newswires/ | 2024-08-30T20:27:42+00:00 | https://www.tradingview.com/news/mtnewswires.com:20240830:A3214540:0-dow-stretches-record-closing-run-s-p-500-nasdaq-rise/ | null | [{'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'NYSE:IBM', 'base_logoid': 'international-bus-mach'}, {'symbol': 'NASDAQ:MDB', 'base_logoid': 'mongodb'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'NASDAQ:IXIC', 'base_logoid': 'indices/nasdaq-composite'}] | /news/mtnewswires.com:20240830:A3214540:0-dow-stretches-record-closing-run-s-p-500-nasdaq-rise/ | EN | The Dow Jones Industrial Average extended its record closing run Friday as markets evaluated the Federal Reserve's preferred inflation gauge. The Dow rose 0.6% to 41,563.1, while the Nasdaq Composite jumped 1.1% to 17,713.6. The S&P 500 advanced 1% to 5,648.4. All sectors notched gains, led by cons… | The Dow Jones Industrial Average extended its record closing run Friday as markets evaluated the Federal Reserve's preferred inflation gauge.
The Dow rose 0.6% to 41,563.1, while the Nasdaq Composite jumped 1.1% to 17,713.6. The S&P 500 advanced 1% to 5,648.4. All sectors notched gains, led by consumer discretionary's 1.9% surge.
For the month of August, the S&P 500 soared 2.3%, while the Dow increased 1.8%. The Nasdaq gained 0.6%.
US markets will be closed Monday for Labor Day.
In economic news, US consumer spending rose in line with market expectations in July, while the Fed's preferred inflation metric unexpectedly held steady at the annual level, government data showed.
"This personal income and spending report was just what the Fed needed to see to further its confidence to start reducing interest rates," BMO said in a note to clients. "Tame headline and core price readings and slowing real disposable income growth should help keep inflation and consumer spending in-check, even as the Fed starts reducing its monetary restriction."
US consumer sentiment in August improved for the first time in five months, while year-ahead inflation expectations continued to drift lower, final results from the University of Michigan's Surveys of Consumers showed.
The US 10-year yield rose 3.6 basis points to 3.90%, while the two-year rate added 2.1 basis points to 3.91%.
In company news, Intel NASDAQ:INTC shares jumped 9.5%, the top gainer on the S&P 500 and the Dow, and the second-best on the Nasdaq. The chipmaker is working with investment bankers Morgan Stanley and Goldman Sachs on several options as its faces challenges, Bloomberg News reported.
Separately, Intel and International Business Machines NYSE:IBM said Thursday they signed a partnership to install the chipmaker's Gaudi 3 artificial intelligence accelerators on IBM Cloud. IBM shares closed 1.6% higher Friday.
MongoDB NASDAQ:MDB was the best performer on the Nasdaq, up 18%. The database software maker late Thursday lifted its full-year outlook. The move was prompted by better-than-expected fiscal Q2 results and improving consumption trends, RBC Capital Markets said in a note to clients.
Ulta Beauty NASDAQ:ULTA shares fell 4%, the steepest decline on the S&P 500. The beauty retailer late Thursday posted lower-than-expected earnings and comparable sales for its fiscal Q2 and downgraded its guidance. These are expected to be a drag on the company's share price in the near term, Evercore ISI said in a note.
Overall, S&P 500 companies' quarterly per-share earnings have grown by almost 12% year over year on average, with 74% of firms topping Wall Street estimates as the latest reporting season approaches its close, UBS Securities said in a note.
West Texas Intermediate crude oil fell 3% to $73.62 a barrel.
Gold dropped 1% to $2,535.20 per troy ounce, while silver slumped 2.5% to $29.25 per ounce.
| indices | null | null | null |
tag:reuters.com,2024:newsml_L1N3KH0WY:0 | USDJPY | Dow notches record high close after upbeat economic data | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T20:22:35+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0WY:0-dow-notches-record-high-close-after-upbeat-economic-data/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'NASDAQ:AMZN', 'base_logoid': 'amazon'}, {'symbol': 'NASDAQ:TSLA', 'base_logoid': 'tesla'}, {'symbol': 'NASDAQ:AVGO', 'base_logoid': 'broadcom'}, {'symbol': 'NASDAQ:MRVL', 'base_logoid': 'marvell-tech'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:S5COND', 'base_logoid': 'sector/consumer-discretionary'}, {'symbol': 'SP:S5INDU', 'base_logoid': 'sector/industrial'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'NYSE:DELL', 'base_logoid': 'dell'}, {'symbol': 'NASDAQ:DJT', 'base_logoid': 'digital-world-acquisition-corp'}, {'symbol': 'CBOT_MINI:YM1!', 'base_logoid': 'indices/dow-30'}, {'symbol': 'CME_MINI:ES1!', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'CME_MINI:NQ1!', 'base_logoid': 'indices/nasdaq-100'}] | /news/reuters.com,2024:newsml_L1N3KH0WY:0-dow-notches-record-high-close-after-upbeat-economic-data/ | EN | Wall Street stocks rose and the Dow scored a second consecutive all-time closing high on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.U.S. consumer spending increased solidly in July… | Wall Street stocks rose and the Dow scored a second consecutive all-time closing high on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.
U.S. consumer spending increased solidly in July, suggesting the economy remained strong while prices rose moderately.
"Investors are seeing another sign of being in a soft landing," said Cameron Dawson, chief investment officer at Newedge Wealth. "It's another one of those Goldilocks kind of reports really threading a needle right down the center. The market is really getting exactly what it wanted."
A "just-right" Goldilocks economy has steady growth, but not too much that it fuels excessive inflation.
Amazon.com NASDAQ:AMZN and Tesla NASDAQ:TSLA each jumped over 3%.
Broadcom NASDAQ:AVGO rallied nearly 4%, while Marvell Technology NASDAQ:MRVL surged 9% after the chipmaker forecast quarterly results above estimates.
Friday's personal consumption expenditures report was the last major economic data release before the Fed's September meeting. Chair Jerome Powell last week expressed support for an imminent policy adjustment.
Money markets suggest traders mostly expect the Fed to cut rates by 25 basis points in September, with odds of a 50 basis point cut dimming further after Friday's data, according to CME Group's FedWatch Tool.
Friday ended a tumultuous month on Wall Street after signs of a sudden moderation in the labor market in early August sparked fears of a U.S. recession. The influence of the Japanese yen FX_IDC:USDJPY carry trade worsened the rout.
Shares have rebounded since then, with the S&P 500 trading near record highs.
Ahead of Monday's U.S. stock market holiday for Labor Day, volume on U.S. exchanges was relatively light, with 11.2 billion shares traded, compared to an average of 11.4 billion shares over the previous 20 sessions.
The S&P 500 SP:SPX climbed 1.01% to end at 5,648.40 points.
The Nasdaq Composite Index TVC:IXIC climbed 1.13% to 17,713.62 points, while the Dow Jones Industrial Average DJ:DJI rose 0.55% to 41,563.08 points.
All 11 S&P 500 sector indexes rose, led by consumer discretionary SP:S5COND, up 1.9%, followed by a 1.1% gain in industrials SP:S5INDU.
For the month, the S&P 500 rose 2.3%, the Dow added 1.8% and the Nasdaq climbed 0.6%.
Nvidia NASDAQ:NVDA rose 1.5%, rebounding from a 6.4% drop on Thursday after the artificial intelligence-chip bellwether failed to match sky-high investor expectations, despite upbeat results and a broadly in-line forecast.
Ulta Beauty NASDAQ:ULTA slid 4% after it trimmed its annual results forecasts, citing slowing demand for higher-priced cosmetics and fragrances at its stores.
Intel NASDAQ:INTC jumped almost 10% following a report it was exploring options that could include a merger.
Dell Technologies NYSE:DELL, another AI-related stock, advanced 4.3% after lifting its annual revenue and profit forecasts.
Shares of Trump Media & Technology Group NASDAQ:DJT, majority owned by former U.S. President Donald Trump, dipped 1.7% to a record low, leaving its stock market value at $3.9 billion.
Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 6.6-to-one ratio.
The S&P 500 posted 79 new highs and two new lows; the Nasdaq recorded 84 new highs and 77 new lows.
| forex | null | null | null |
forexlive:aaf8395aa094b:0 | USDJPY | Forexlive Americas FX news wrap: US dollar strengthens despite slightly cooler PCE report | forexlive | https://www.forexlive.com/ | 2024-08-30T20:18:42+00:00 | https://www.tradingview.com/news/forexlive:aaf8395aa094b:0-forexlive-americas-fx-news-wrap-us-dollar-strengthens-despite-slightly-cooler-pce-report/ | null | [{'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}] | /news/forexlive:aaf8395aa094b:0-forexlive-americas-fx-news-wrap-us-dollar-strengthens-despite-slightly-cooler-pce-report/ | EN | Markets:It was tough to tie the fundamentals to the market moves today, as is often the case at month end. Tokyo CPI was hot earlier and US PCE was a tad cool and normally that's the recipe for a USD/JPY decline but it was just the opposite as the pair climbed 116 pips in a steady rally that starte… | Markets:
Gold down $19 to $2501WTI crude oil down $2.47 to $73.44US 10-year yields up 4.3 bps to 3.81%S&P 500 up 0.6%USD leads, JPY lags.It was tough to tie the fundamentals to the market moves today, as is often the case at month end. Tokyo CPI was hot earlier and US PCE was a tad cool and normally that's the recipe for a USD/JPY decline but it was just the opposite as the pair climbed 116 pips in a steady rally that started in Europe and never eased.
That was part of broad bids in the US dollar that were supported somewhat by rising Treasury yields. However the 30 pip decline in the Australian dollar certainly went against the rip in equities.
The Canadian dollar was particularly volatile and rallied initially on a strong GDP number. However the details of that report showed no growth in June and July plus the vast majority of the growth in the quarter was driven by government spending. That led to a rethink, particularly following the drop in oil prices. All told, there were four 30-pip straight line moves in USD/CAD trading to round out a lively month. That will give North Americans plenty to digest over the long weekend.
The euro finishes the month above 1.10, which is a nice victory but a cent-and-a-half from Monday's high of 1.1201. It declined in four of the five days this week in a setback after three weeks of strong gains.
Similarly, cable fell for the third consecutive day and showed few signs of life in month end trade.
On net, the US dollar rebound balances the market heading into what's going to be a lively September. Have a great weekend.
Justin and Eamonn will be back next week.
| forex | null | null | null |
tag:reuters.com,2024:newsml_L1N3KH0KM:0 | USDJPY | US dollar rises broadly as inflation data underpins smaller Fed cut | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T20:14:49+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0KM:0-us-dollar-rises-broadly-as-inflation-data-underpins-smaller-fed-cut/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'TVC:DXY', 'base_logoid': 'indices/u-s-dollar-index'}, {'symbol': 'FX:EURUSD', 'logoid': 'country/US', 'base_logoid': 'country/EU'}, {'symbol': 'FX_IDC:USDCNY', 'logoid': 'country/CN', 'base_logoid': 'country/US'}, {'symbol': 'FX:EURJPY', 'logoid': 'country/JP', 'base_logoid': 'country/EU'}, {'symbol': 'FX_IDC:USDCHF', 'logoid': 'country/CH', 'base_logoid': 'country/US'}, {'symbol': 'FX:GBPUSD', 'logoid': 'country/US', 'base_logoid': 'country/GB'}, {'symbol': 'FX_IDC:USDCAD', 'logoid': 'country/CA', 'base_logoid': 'country/US'}, {'symbol': 'FX:AUDUSD', 'logoid': 'country/US', 'base_logoid': 'country/AU'}, {'symbol': 'FX:EURCHF', 'logoid': 'country/CH', 'base_logoid': 'country/EU'}, {'symbol': 'FX:EURGBP', 'logoid': 'country/GB', 'base_logoid': 'country/EU'}, {'symbol': 'FX:NZDUSD', 'logoid': 'country/US', 'base_logoid': 'country/NZ'}, {'symbol': 'FX_IDC:USDNOK', 'logoid': 'country/NO', 'base_logoid': 'country/US'}, {'symbol': 'FX:EURNOK', 'logoid': 'country/NO', 'base_logoid': 'country/EU'}, {'symbol': 'FX_IDC:USDSEK', 'logoid': 'country/SE', 'base_logoid': 'country/US'}, {'symbol': 'FX:EURSEK', 'logoid': 'country/SE', 'base_logoid': 'country/EU'}] | /news/reuters.com,2024:newsml_L1N3KH0KM:0-us-dollar-rises-broadly-as-inflation-data-underpins-smaller-fed-cut/ | EN | The U.S. dollar gained on Friday after data showed a key inflation measure came in line with forecasts, while personal spending and income increased, supporting expectations the Federal Reserve will likely cut interest rates by a smaller 25 basis points next month, instead of 50 bps.Some market par… | The U.S. dollar gained on Friday after data showed a key inflation measure came in line with forecasts, while personal spending and income increased, supporting expectations the Federal Reserve will likely cut interest rates by a smaller 25 basis points next month, instead of 50 bps.
Some market participants had expected the larger cut next month on the notion that the Fed was behind the curve in terms of easing and should play catchup.
U.S. rate futures on Friday implied a 31% chance of a 50 basis-point rate cut next month, down from Thursday's 35% probability, LSEG calculations showed, with the market fully pricing at the September meeting the Fed's first easing in more than four years.
Markets have also factored in about 100 bps of cuts by the end of 2024.
The dollar rose 0.8% to 146.09 yen after the inflation data FX_IDC:USDJPY, for its largest daily gain in two weeks. It was up 1.2% for the week, on track for its biggest weekly rise since mid-June.
But the greenback remained down 2.6% for August, falling for a second straight month versus the Japanese currency.
Friday's data showed the personal consumption expenditures (PCE) price index rose 0.2% last month, in line with expectations, after an unrevised 0.1% advance in June. In the 12 months through July, the PCE price index increased 2.5%, matching June's gain.
Consumer spending was also 0.5% higher last month after expanding 0.3% in June.
"Obviously, we are going to get a rate cut, and I think that whether it's 25 or 50, that's still debatable and that will all depend on next week's employment data," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
"I see three rate cuts and I see the possibility of a half a percent in September, depending on the employment data. If not, it'll be 25-basis-point cut in September and then 50-basis-point cut in December."
The dollar index, a gauge of its value against six major peers, climbed to a 10-day high after the inflation data and was last up 0.3% at 101.7 TVC:DXY. On the week, it rose 1%, on track for its best weekly performance since early April.
This month, however, the index fell 2.6%, its weakest since November last year.
The dollar overall continued to benefit from month-end flows, having been sold after Fed Chair Jerome Powell at a Jackson Hole gathering last week gave the clearest signal yet that the U.S. central bank will cut interest rates at the September meeting.
Separate economic reports showed that the University of Michigan's monthly consumer sentiment index survey edged up to 67.9 in August from July's eight-month low of 66.4, snapping a four-month slide. U.S. consumers see inflation continuing to moderate in the next year, the survey showed, with a gauge of price growth expectations published on Friday at the lowest level in August since late 2020.
The dollar briefly trimmed gains after the report.
In other currencies, the euro dipped 0.2% against the dollar to $1.1050 FX:EURUSD. It has fallen 1.3% this week, on track for its largest weekly loss since April.
The euro, however, rose 2.1% in the month of August, for its best monthly showing since November 2023, with the European Central Bank still on track to lower interest rates again next month.
The single currency fell to a more than one-week low on Thursday and ended down 0.4% after German inflation cooled more than expected, bolstering investors' expectations of ECB cuts.
The Chinese yuan firmed to a 14-month high against the dollar, for its biggest monthly jump since November, amid growing corporate demand for the Chinese currency as expectations heighten for U.S. rate cuts.
The onshore yuan FX_IDC:USDCNY strengthened as far as 7.0825 per dollar before last changing hands at 7.0920, on track for a rise of around 1.9% for August.
Currency bid prices at 30 August 08:02 p.m. GMT
Description
RIC
Last
U.S. Close Previous Session
Pct Change
YTD Pct
High Bid
Low Bid
Dollar index
TVC:DXY
101.67
101.36
0.32%
0.30%
101.78
101.24
Euro/Dollar
FX:EURUSD
1.1053
1.1077
-0.21%
0.14%
$1.1095
$1.1044
Dollar/Yen
FX_IDC:USDJPY
146.16
144.96
0.89%
3.69%
146.25
144.685
Euro/Yen
FX:EURJPY
1.1053
160.6
0.6%
3.81%
161.62
160.2
Dollar/Swiss
FX_IDC:USDCHF
0.85
0.8473
0.33%
1%
0.851
0.8468
Sterling/Dollar
FX:GBPUSD
1.3131
1.317
-0.27%
3.21%
$1.32
$1.1044
Dollar/Canadian
FX_IDC:USDCAD
1.3478
1.3485
-0.03%
1.69%
1.3509
1.3466
Aussie/Dollar
FX:AUDUSD
0.6766
0.6798
-0.44%
-0.73%
$0.6817
$0.6752
Euro/Swiss
FX:EURCHF
0.9394
0.9385
0.1%
1.16%
0.9417
0.9381
Euro/Sterling
FX:EURGBP
0.8417
0.8411
0.07%
-2.9%
0.8428
0.8401
NZ Dollar/Dollar
FX:NZDUSD
0.625
0.6257
-0.13%
-1.11%
$0.6275
0.6231
Dollar/Norway
FX_IDC:USDNOK
10.6028
10.4989
0.99%
4.61%
10.6409
10.4767
Euro/Norway
FX:EURNOK
11.7197
11.6308
0.76%
4.42%
11.7565
11.6137
Dollar/Sweden
FX_IDC:USDSEK
10.2664
10.2239
0.42%
1.98%
10.2936
10.209
Euro/Sweden
FX:EURSEK
11.348
11.3231
0.22%
2.01%
11.382
11.317
| forex | null | null | null |
DJN_DN20240830008288_20240830008288:0 | SPX | S&P 500 Rises 56.44 Points (1.01%) | dow-jones | https://www.tradingview.com/news/providers/dow-jones/ | 2024-08-30T20:10:00+00:00 | https://www.tradingview.com/news/DJN_DN20240830008288_20240830008288:0/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}] | /news/DJN_DN20240830008288_20240830008288:0/ | EN | null | null | indices | null | null | null |
te_news:427056:0 | SPX | US Stocks Close Higher After PCE Report | trading-economics | https://www.tradingview.com/news/providers/trading-economics/ | 2024-08-30T20:02:51+00:00 | https://www.tradingview.com/news/te_news:427056:0-us-stocks-close-higher-after-pce-report/ | null | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'SEED_SMAYXOR_GEX:SPX', 'logoid': '', 'base_logoid': ''}, {'symbol': 'SEED_SZILKA88_TANUKI:SPX', 'logoid': '', 'base_logoid': ''}] | /news/te_news:427056:0-us-stocks-close-higher-after-pce-report/ | EN | US stocks finished the last trading day of August on a positive note, as investors assessed key inflation data closely watched by the Federal Reserve.The S&P 500 rose 1%, the Nasdaq 100 gained 1.3%, while the Dow Jones closed 227 points higher.The Personal Consumption Expenditures (PCE) price index… | US stocks finished the last trading day of August on a positive note, as investors assessed key inflation data closely watched by the Federal Reserve.
The S&P 500 rose 1%, the Nasdaq 100 gained 1.3%, while the Dow Jones closed 227 points higher.
The Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, increased 0.2% month-on-month and 2.5% year-on-year, matching expectations.
This data bolstered hopes for Fed rate cuts later this year, as the economy showed resilience while keeping the door open for potential easing.
In corporate news, Dell Technologies jumped 4.3% after its Q2 earnings exceeded expectations.
Intel surged 9.5% on restructuring reports, despite a 56% decline this year.
In contrast, Super Micro Computer dropped 2.5%, tumbling over 34% in August to mark its worst month on record.
All the three major averages ended a volatile month in the green, with the S&P 500 rising 3.9%, the Nasdaq up 4.1% and the Dow adding 2%.
| indices | null | null | null |
tag:reuters.com,2024:newsml_L1N3KH0VR:0 | USDJPY | S&P ends higher after upbeat economic data | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T20:00:37+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0VR:0-s-p-ends-higher-after-upbeat-economic-data/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'NASDAQ:AMZN', 'base_logoid': 'amazon'}, {'symbol': 'NASDAQ:TSLA', 'base_logoid': 'tesla'}, {'symbol': 'NASDAQ:AVGO', 'base_logoid': 'broadcom'}, {'symbol': 'NASDAQ:MRVL', 'base_logoid': 'marvell-tech'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'NYSE:DELL', 'base_logoid': 'dell'}, {'symbol': 'NASDAQ:DJT', 'base_logoid': 'digital-world-acquisition-corp'}, {'symbol': 'CME_MINI:NQ1!', 'base_logoid': 'indices/nasdaq-100'}, {'symbol': 'CBOT_MINI:YM1!', 'base_logoid': 'indices/dow-30'}, {'symbol': 'CME_MINI:ES1!', 'base_logoid': 'indices/s-and-p-500'}] | /news/reuters.com,2024:newsml_L1N3KH0VR:0-s-p-ends-higher-after-upbeat-economic-data/ | EN | The Nasdaq and S&P 500 ended higher on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.U.S. consumer spending increased solidly in July, suggesting the economy remained strong while pric… | The Nasdaq and S&P 500 ended higher on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.
U.S. consumer spending increased solidly in July, suggesting the economy remained strong while prices rose moderately.
"Investors are seeing another sign of being in a soft landing," said Cameron Dawson, chief investment officer at Newedge Wealth. "It's another one of those Goldilocks kind of reports really threading a needle right down the center. The market is really getting exactly what it wanted."
A "just-right" Goldilocks economy has steady growth, but not too much that it fuels excessive inflation.
Amazon.com NASDAQ:AMZN and Tesla NASDAQ:TSLA each made gains.
Broadcom NASDAQ:AVGO rallied, while Marvell Technology NASDAQ:MRVL surged after the chipmaker forecast quarterly results above estimates.
Friday's personal consumption expenditures report was the last major economic data release before the Fed's September meeting. Chair Jerome Powell last week expressed support for an imminent policy adjustment.
Money markets suggest traders mostly expect the Fed to cut rates by 25 basis points in September, with odds of a 50 basis point cut dimming further after Friday's data, according to CME Group's FedWatch Tool.
Friday ends a tumultuous month on Wall Street after signs of a sudden moderation in the labor market in early August sparked fears of a U.S. recession. The influence of the Japanese yen FX_IDC:USDJPY carry trade worsened the rout.
Shares have rebounded since then, with the S&P 500 trading near record highs.
Trading volume has been thin this week ahead of Monday's U.S. stock market holiday for Labor Day.
According to preliminary data, the S&P 500 SP:SPX gained 55.64 points, or 1.00%, to end at 5,647.60 points, while the Nasdaq Composite TVC:IXIC gained 194.30 points, or 1.11%, to 17,710.73. The Dow Jones Industrial Average DJ:DJI rose 214.86 points, or 0.52%, to 41,549.91.
Nvidia NASDAQ:NVDA rose, rebounding from a 6.4% drop in the previous session after the artificial intelligence-chip bellwether failed to match sky-high investor expectations, despite upbeat results and a broadly in-line forecast.
Ulta Beauty NASDAQ:ULTA slid after it trimmed its annual results forecasts, citing slowing demand for higher-priced cosmetics and fragrances at its stores.
Intel NASDAQ:INTC jumped following a report it was exploring options that could include a merger.
Dell Technologies NYSE:DELL, another AI-related stock, advanced after lifting its annual revenue and profit forecasts.
Shares of Trump Media & Technology Group NASDAQ:DJT, majority owned by former U.S. President Donald Trump, dipped to a record low, leaving its stock market value at $3.9 billion.
| forex | null | null | null |
benzinga:f5736352d094b:0 | QQQ | PDD Stock Fell 22% In August: What Happened To The Chinese E-Commerce Giant? | benzinga | https://benzinga.com/ | 2024-08-30T19:19:43+00:00 | https://www.tradingview.com/news/benzinga:f5736352d094b:0-pdd-stock-fell-22-in-august-what-happened-to-the-chinese-e-commerce-giant/ | null | [{'symbol': 'NASDAQ:PDD', 'base_logoid': 'pinduoduo'}, {'symbol': 'NASDAQ:QQQ', 'base_logoid': 'invesco'}] | /news/benzinga:f5736352d094b:0-pdd-stock-fell-22-in-august-what-happened-to-the-chinese-e-commerce-giant/ | EN | PDD Holdings Inc NASDAQ:PDD shares took a significant hit in August, plummeting approximately 22% to $95.55, largely due to revenue falling short of expectations for the second quarter.What Happened: For its fiscal second quarter, the parent company of Temu announced that revenue grew 86% year-on-y… | PDD Holdings Inc NASDAQ:PDD shares took a significant hit in August, plummeting approximately 22% to $95.55, largely due to revenue falling short of expectations .
What Happened: For its fiscal second quarter, the parent company of Temu announced that revenue grew 86% year-on-year to $13.36 billion, which missed the analyst consensus estimate of $14.02 billion.
However, the company's adjusted earnings per ADS of $3.20 exceeded expectations.
Despite recent progress, company leadership highlighted challenges ahead, including slower revenue growth and intensified competition.
Several analysts reacted by , with Citigroup downgrading the stock from Buy to Neutral.
Among other following earnings, Goldman Sachs cut its price target from $184 to $165 while retaining a Buy rating. Analyst Ronald Keung pointed out that the market might be overlooking the strength of PDD’s ecosystem and the clearer growth outlook for gross merchandise volume.
He also noted that the company's shift from aggressive ad monetization could support more sustainable growth.
Read Also: Temu Parent PDD Stock Free Falls After Hitting Death Cross: Time To Bail Out?
What Else: PDD, formerly known as Pinduoduo Inc., reported second-quarter revenue from online marketing services grew 29% year-over-year.
Transaction services revenue surged 234% Y/Y.
The company also reported an adjusted operating profit of $4.81 billion, up 139% Y/Y, and held $39.2 billion in cash as of June 30.
Despite solid progress, PDD’s leadership emphasized that the company faces challenges ahead, with expected pressure on revenue growth and profitability.
Investors can gain exposure to PDD by investing in the Invesco QQQ Trust, Series 1 NASDAQ:QQQ.
How To Buy PDD Stock
By now you're likely curious about how to participate in the market for PDD Holdings — be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the case of PDD, which is trading at $94.96 as of publishing time, $100 would buy you 1.05 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
Price Action: According to data from Benzinga Pro, PDD has a 52-week high of $164.69 and a 52-week low of $88.01.
Read Next:
Ethereum Co-Founder's $2.1M Ether Transfer Raises Eyebrows: Why Is Vitalik Buterin Dumping?Image from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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tag:reuters.com,2024:newsml_L1N3KH0NP:0 | USDJPY | COMMENT-US recap: EUR/USD extends slide as data tempers aggressive-Fed bets | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T18:54:18+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0NP:0-comment-us-recap-eur-usd-extends-slide-as-data-tempers-aggressive-fed-bets/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'FX:EURUSD', 'logoid': 'country/US', 'base_logoid': 'country/EU'}, {'symbol': 'FX:GBPUSD', 'logoid': 'country/US', 'base_logoid': 'country/GB'}, {'symbol': 'FX:USDCNH', 'logoid': 'country/CN', 'base_logoid': 'country/US'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'FX:AUDUSD', 'logoid': 'country/US', 'base_logoid': 'country/AU'}] | /news/reuters.com,2024:newsml_L1N3KH0NP:0-comment-us-recap-eur-usd-extends-slide-as-data-tempers-aggressive-fed-bets/ | EN | The dollar gained on Friday, extending its recent rebound after U.S. consumption, income and inflation data fell short of motivating traders to augment bets on aggressive Fed easing next month. Though annual headline and PCE inflation came in below Reuters consensus forecasts, the report also showe… | The dollar gained on Friday, extending its recent rebound after U.S. consumption, income and inflation data fell short of motivating traders to augment bets on aggressive Fed easing next month.
Though annual headline and PCE inflation came in below Reuters consensus forecasts, the report also showed rising income and consumption.
Chicago PMI added to the firm tone by rising more than expected, while the U.Mich report was mixed, with consumer sentiment increasing slightly, though a smidge less than forecast, and one-year inflation expectations decreasing by one-tenth.
The data leaves the market awaiting next Friday's non-farm payrolls report, which will carry more weight than usual since Fed Chair Jerome Powell focused on the labor market in last week's Jackson Hole speech.
U.S. Treasury yields rose about 3-4bp across maturities, with the 2s-10s curve steepening to a barely inverted -1.7bp, according to LSEG data.
The S&P 500 gained 0.36% by New York afternoon trade, with the market reading Goldilocks into the day's data offering.
Markets remain convinced that the Fed will start cutting interest rates next month, but futures are divided on whether the U.S. central bank will kick off the cycle with a bold 50bp move or a more conventional 25bp adjustment.
The market has assigned a 30.5% chance to a half-point move, down slightly from before the morning's data, with payrolls likely to decide whether that increases or fades further.
WTI fell 3.04%, pressured by concerns about demand and the prospect of bigger supply from OPEC+.
Copper eased 0.08%, giving back earlier gains that had come on optimism about more government support for the economy of top metals consumer China.
Gold fell 0.68%, hurt by the firmer dollar and stronger yields.
Heading toward the close: EUR/USD -0.22%, USD/JPY +0.79%, GBP/USD -0.35%, AUD/USD -0.51%, EUR/JPY +0.53%, GBP/JPY +0.30%, AUD/JPY +0.37%, DXY +0.33%.
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tag:reuters.com,2024:newsml_L4N3KH18K:0 | USDJPY | S&P 500 inches up after upbeat economic data | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T18:25:52+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L4N3KH18K:0-s-p-500-inches-up-after-upbeat-economic-data/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'NASDAQ:AMZN', 'base_logoid': 'amazon'}, {'symbol': 'NASDAQ:TSLA', 'base_logoid': 'tesla'}, {'symbol': 'NASDAQ:AVGO', 'base_logoid': 'broadcom'}, {'symbol': 'NASDAQ:MRVL', 'base_logoid': 'marvell-tech'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:S5COND', 'base_logoid': 'sector/consumer-discretionary'}, {'symbol': 'SP:S5CONS', 'base_logoid': 'sector/consumer-staples'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'NYSE:DELL', 'base_logoid': 'dell'}, {'symbol': 'NASDAQ:DJT', 'base_logoid': 'digital-world-acquisition-corp'}, {'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'NASDAQ:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'CBOT_MINI:YM1!', 'base_logoid': 'indices/dow-30'}, {'symbol': 'CME_MINI:ES1!', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'CME_MINI:NQ1!', 'base_logoid': 'indices/nasdaq-100'}] | /news/reuters.com,2024:newsml_L4N3KH18K:0-s-p-500-inches-up-after-upbeat-economic-data/ | EN | The Nasdaq and S&P 500 rose on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September. U.S. consumer spending increased solidly in July, suggesting the economy remained strong while… | The Nasdaq and S&P 500 rose on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.
U.S. consumer spending increased solidly in July, suggesting the economy remained strong while prices rose moderately.
"Investors are seeing another sign of being in a soft landing," said Cameron Dawson, chief investment officer at Newedge Wealth. "It's another one of those Goldilocks kind of reports really threading a needle right down the center. The market is really getting exactly what it wanted."
Amazon.com NASDAQ:AMZN and Tesla NASDAQ:TSLA each added about 2%.
Broadcom NASDAQ:AVGO climbed 2%, while Marvell Technology NASDAQ:MRVL jumped 9% after the chipmaker forecast quarterly results above estimates.
Friday's personal consumption expenditures report was the last major economic data release before the Fed's September meeting. Chair Jerome Powell last week expressed support for an imminent policy adjustment.
Money markets suggest traders mostly expect the Fed to cut rates by 25 basis points in September, with odds of a 50 basis point cut dimming further after Friday's data, according to CME Group's FedWatch Tool.
Friday ends a tumultuous month on Wall Street after signs of a sudden moderation in the labor market in early August sparked fears of a U.S. recession. The influence of the Japanese yen FX_IDC:USDJPY carry trade worsened the rout.
Shares have rebounded since then, with the Dow DJ:DJI closing on Thursday at its highest ever.
Trading volume has been thin this week ahead of the U.S. stock market holiday on Monday for Labor Day.
The S&P 500 index was up 0.18% at 5,601.77 points.
The Nasdaq Composite Index rose 0.31% to 17,571.40 points, while the Dow Jones Industrial Average was down 0.17% at 41,263.32 points.
Of the 11 S&P 500 sector indexes, eight rose, led by consumer discretionary SP:S5COND, up 0.83%, followed by a 0.24% gain in consumer staples SP:S5CONS.
Nvidia NASDAQ:NVDA rose 0.5%, rebounding from a 6.4% drop in the previous session after the artificial intelligence-chip bellwether failed to match sky-high investor expectations, despite upbeat results and a broadly in-line forecast.
Ulta Beauty NASDAQ:ULTA slid 4.5% after it trimmed its annual results forecasts, citing slowing demand for higher-priced cosmetics and fragrances at its stores.
Intel NASDAQ:INTC jumped almost 8% following a report it was exploring options that could include a merger.
Dell Technologies NYSE:DELL, another AI-related stock, advanced 3.3% after lifting its annual revenue and profit forecasts.
Shares of Trump Media & Technology Group NASDAQ:DJT, majority owned by former U.S. President Donald Trump, dipped 0.7% to a record low, leaving its stock market value at $3.9 billion.
Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 1.0-to-one ratio.
The S&P 500 posted 59 new highs and one new low; the Nasdaq recorded 65 new highs and 68 new lows.
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DJN_DN20240830007463:0 | SPX | Nvidia Selloff Sets Up a Buy-the-Dip Chip Trade. Why the S&P 500 Could Hit 6000 by Year End. — Barrons.com | dow-jones | https://www.tradingview.com/news/providers/dow-jones/ | 2024-08-30T18:11:00+00:00 | https://www.tradingview.com/news/DJN_DN20240830007463:0/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}] | /news/DJN_DN20240830007463:0/ | EN | By Jacob SonenshineSometimes you have to take a step back to go forward. That's the case with the S&P 500, which looks well on its way to 6000 despite falling this past week.The S&P 500 sank 0.6% this past week, while the Dow Jones Industrial Average rose 0.2%. The Nasdaq Composite dropped 1.7%, we… | By Jacob Sonenshine
Sometimes you have to take a step back to go forward. That's the case with the S&P 500, which looks well on its way to 6000 despite falling this past week.
The S&P 500 sank 0.6% this past week, while the Dow Jones Industrial Average rose 0.2%. The Nasdaq Composite dropped 1.7%, weighed down by Nvidia, which fell despite better-than-expected earnings and guidance.
Still, the S&P, at 5600, is just 7% away from 6000 — and it won't take too much to get it there. The first path is the most obvious. Tech weakness could set the stage for dip-buyers to come in and boost tech stocks. And why not? Nvidia's setback stems mainly from its delayed Blackwell chip, which should arrive a few months late. While analysts see decelerating sales and profit growth next year, they're still forecasting earnings to grow at a double-digit percentage clip.
That could make chip stocks tempting, particularly since the iShares Semiconductor exchange-traded fund is already down 14% from this year's July peak. The ETF also trades at 24.8 times 12-month forward earnings, down from 29.7 earlier this year. What's more, it trades at just 22 times 2025 earnings expectations, less than a point above the S&P 500's multiple of 21.3 times. The chip group has traded as high as nine points above the index over the past three years, according to FactSet. If chip stocks, worth about 10% of the S&P 500's market cap, rebound, the index could find its way to 6000 by the end of the year.
But there's a lot more to the stock market than tech, particularly companies that would benefit from a growing economy juiced by Federal Reserve rate cuts. Friday's release of the Personal Consumption Expenditures Index showed that both inflation and the economy are slowing, enough to give the Fed cover to start cutting rates in September, but not enough to worry about economic growth.
The last evidence before the Fed's September meeting will come on Sept. 6, when August payrolls are released. Economists expect fewer than 200,000 new jobs in August, the kind of Goldilocks report the market would love. Easier monetary policy would help extend the economic expansion, which bodes well for earnings growth across sectors, as seen by strength in financials, materials, and industrials sectors this past week.
"We're closer to seeing the whites of the eyes of a Fed pivot, and now there's a more traditional rotation [into value]," says Citi strategist Scott Chronert. "That's your index math of how you move to 6000."
Overall, the market just needs to stay confident that earnings will continue growing. Analysts expect aggregate earnings for S&P 500 companies to hit $278 a share in 2025, according to FactSet. That number is good enough that estimates don't even need to rise for the index to hit the next big round number. An S&P 500 at 6000 by year end implies that it will trade at 21.6 times forward earnings, a touch below its 21.8 times peak earlier this year before it became clear that the Fed was about to cut rates.
Of course, September is historically a tough month for stock and living up to that reputation could push hopes of 6000 into next year. But by the end of 2025, the market will reflect earnings estimates for 2026, which currently stand at $311. An index at 6000 by the end of next year would represent just a 19 times multiple on that forecast.
As David Miller, chief investment officer at Catalyst Capital Advisors says,"It doesn't take too much for the S&P to reach 6000."
It might be easier than you think.
Write to Jacob Sonenshine at [email protected]
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
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DJN_DN20240830007437:0 | SPX | S&P 500 Inches Higher; PCE Inflation Holds Steady — WSJ | dow-jones | https://www.tradingview.com/news/providers/dow-jones/ | 2024-08-30T18:01:00+00:00 | https://www.tradingview.com/news/DJN_DN20240830007437:0/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}] | /news/DJN_DN20240830007437:0/ | EN | By Sam Goldfarb and Angus BerwickThe S&P 500 and Dow industrials are poised to finish August modestly higher after new data showed consumer spending remained solid last month, further easing anxieties about an economic slowdown.Typically a slow period, August started with a bang as markets swooned… | By Sam Goldfarb and Angus Berwick
The S&P 500 and Dow industrials are poised to finish August modestly higher after new data showed consumer spending remained solid last month, further easing anxieties about an economic slowdown.
Typically a slow period, August started with a bang as markets swooned on growth fears and the unwinding of some crowded trades. The selloff proved short-lived. Investors have come back around to the "soft landing" narrative, as U.S. growth remains resilient and inflation pressures recede.
Friday's data added to the sense of reassurance. Personal spending rose 0.5% in July from a month earlier, up from 0.3% in June.
The Federal Reserve's preferred measure of inflation, meanwhile, clocked in as expected at 2.5% on an annual basis. Overall, it was an encouraging report that led traders to slightly temper their expectations for how much the Fed will cut interest rates over the next several months.
In recent market action:
Stock indexes were muted. The S&P 500 and the Nasdaq Composite were up slightly, while the Dow industrials edged lower.
Treasury yields ticked higher. The yield on the 10-year note was hovering just above 3.9%.
European markets were buoyant. The Stoxx Europe 600 finished at a fresh record, after data showed eurozone inflation slowing sharply to 2.2%, the lowest since mid-2021.
In Asia, Japan's Nikkei 225 and Hong Kong's Hang Seng Index climbed. A report showing faster-than-expected inflation in Japan raised the chances of another Bank of Japan rate hike.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
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tag:reuters.com,2024:newsml_L1N3KH0Q8:0 | SPX | Stocks set to end turbulent month higher as US data sets stage for rate cut | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T17:47:44+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0Q8:0-stocks-set-to-end-turbulent-month-higher-as-us-data-sets-stage-for-rate-cut/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'TVC:SXXP', 'base_logoid': 'indices/stoxx-600'}, {'symbol': 'TVC:US10Y', 'base_logoid': 'country/US'}, {'symbol': 'TVC:DXY', 'base_logoid': 'indices/u-s-dollar-index'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'FX:EURUSD', 'logoid': 'country/US', 'base_logoid': 'country/EU'}, {'symbol': 'TVC:NI225', 'base_logoid': 'indices/nikkei-225'}, {'symbol': 'ICEEUR:BRN1!', 'base_logoid': 'crude-oil'}, {'symbol': 'NYMEX:CL1!', 'base_logoid': 'crude-oil'}, {'symbol': 'TVC:GOLD', 'base_logoid': 'metal/gold'}] | /news/reuters.com,2024:newsml_L1N3KH0Q8:0-stocks-set-to-end-turbulent-month-higher-as-us-data-sets-stage-for-rate-cut/ | EN | Global stocks edged higher in choppy trading on Friday and were on track for a fourth consecutive month of gains despite a bout of heavy selling in early August, buoyed by U.S. economic data that has helped the dollar snap a weeks-long losing streak. The U.S. personal consumption expenditures (PC… | Global stocks edged higher in choppy trading on Friday and were on track for a fourth consecutive month of gains despite a bout of heavy selling in early August, buoyed by U.S. economic data that has helped the dollar snap a weeks-long losing streak.
The U.S. personal consumption expenditures (PCE) price index - which is the Federal Reserve's preferred inflation measure - rose 0.2% in July, according to Commerce Department data released on Friday.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.5% last month, the report showed. The data sets the stage for the Fed to likely begin easing monetary policy from September.
The Dow Jones Industrial Average DJ:DJI was down 0.14% at 41,276.72, the S&P 500 SP:SPX gained 0.20% to 5,603.12 and the Nasdaq Composite TVC:IXIC was up 0.34% at 17,576.13.
Europe's Stoxx index TVC:SXXP closed up 0.09% after touching a record intraday high while Britain's FTSE 100 CURRENCYCOM:UK100 eased 0.04%. MSCI's world share index EURONEXT:IACWI ticked 0.16% higher, heading for a 1.78% monthly gain.
The stunning recovery from an early August sell-off reminiscent of October 1987's "Black Monday" came as traders priced a so-called Goldilocks scenario, in which the U.S. economy keeps growing but not so much as to prevent interest rate cuts.
Money markets are confidently pricing the Fed's first 25 basis point cut of this cycle at its September meeting, with a 33% chance of a jumbo 50 bp reduction.
The U.S. economy grew faster than initially thought in the second quarter of this year because of strong consumer spending, and corporate profits, a report on Thursday showed.
"The last few days we've started out a little stronger and then drifted during the day and in many cases closed either break even or slightly positive or slightly negative," said Tom Plumb, chief executive and portfolio manager at Plumb Funds.
"I think that is a sign of a cycle where you start to see people transition to a different environment and it's not positive for the past leaders," he added, referring to the so-called "Magnificent 7" tech stocks that were at the forefront of this year's stock market rally.
Government bonds rallied in early August after a weaker-than-expected U.S. jobs report and a surprise Bank of Japan rate hike wreaked chaos in currency carry trades and drove heavy selling of risky assets.
The yield on benchmark U.S. 10-year notes TVC:US10Y, which moves inversely to prices, rose 4.9 basis points on Friday to 3.909%. The 2-year note (US2YT=RR) yield, which typically moves in step with interest rate expectations, rose 3.2 basis points to 3.9248%.
"As we're starting to lay out what our expectations are for an environment with lower interest rates, at least lower short term rates... we're already starting to see a change in the shape of the yield curve, which impacts the bond market but also the stock market," Plumb added.
EURO FLAT
The dollar TVC:DXY steadied near a one-week high versus a basket of other major currencies, on track to snap a five-week losing streak although still heading for around a 2.5% monthly loss.
Against the yen FX_IDC:USDJPY, the dollar stood at 146.09, set to lose more than 2% for the month, as pressure eased on the Japanese currency on the prospect of narrowing interest rate differentials.
Core inflation in Japan's capital Tokyo accelerated for a fourth straight month in August, data showed on Friday, with the 2.4% price increase signalling further BoJ rate hikes ahead.
The euro FX:EURUSD was flat at $1.105, having declined on Thursday after softer-than-expected German inflation data increased bets on further European Central Bank rate cuts.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.48% and ended the month 2% higher. Japan's Nikkei TVC:NI225, following its early August collapse, was down 1.16% for the month after rising 0.74% on Friday.
Oil prices fell. Brent crude futures for October delivery ICEEUR:BRN1! dropped 1.44% to $78.79 a barrel, while U.S. crude NYMEX:CL1! lost 2.87% to $73.73 a barrel.
Gold prices weakened but looking at a 2.8% monthly gain. Spot gold TVC:GOLD lost 0.91% to $2,498.20 an ounce. U.S. gold futures (GCc1) fell 0.98% to $2,501.00 an ounce.
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tag:reuters.com,2024:newsml_L1N3KH0RM:0 | USDJPY | COMMENT-USD/JPY squeeze higher faces first key test | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T17:27:22+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0RM:0-comment-usd-jpy-squeeze-higher-faces-first-key-test/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}] | /news/reuters.com,2024:newsml_L1N3KH0RM:0-comment-usd-jpy-squeeze-higher-faces-first-key-test/ | EN | USD/JPY is closing out the week on the front foot amid a squeeze higher in both the dollar and U.S. yields, but the rally still appears corrective, especially with surprisingly strong Tokyo CPI providing a reminder that the Bank of Japan is looking to tighten monetary policy.With Tokyo core inflati… | USD/JPY is closing out the week on the front foot amid a squeeze higher in both the dollar and U.S. yields, but the rally still appears corrective, especially with surprisingly strong Tokyo CPI providing a reminder that the Bank of Japan is looking to tighten monetary policy.
With Tokyo core inflation at 2.4% versus 2.2% expected, BoJ tightening may be underpriced (0#BOJWATCH), while markets are still trying to figure out whether the Fed will cut by 25 or 50bp next month.
Still, USD/JPY has poked back above 146.00, nearing topside hurdles at 146.50 – the Powell news pivot – and 148.
Traders are likely to take chips off the table ahead of a U.S. data deluge next week, with topside surprises needed to carry the dollar higher. Otherwise, a return to 144.00 may follow.
The bottom line for pair is that the move from 160 to 141 was historically sharp, particularly within the short space of time of four weeks. Therefore, while 150 may be more likely to hit before 140, the preference is likely to lean in favor of fading rallies, unless there is a significant repricing in U.S. rates.
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cointelegraph:581e5c0c8094b:0 | BTCUSDT | Bitcoin price keeps falling under $60K — Here is why | cointelegraph | https://cointelegraph.com | 2024-08-30T17:23:53+00:00 | https://www.tradingview.com/news/cointelegraph:581e5c0c8094b:0-bitcoin-price-keeps-falling-under-60k-here-is-why/ | null | [{'symbol': 'BINANCE:BTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}] | /news/cointelegraph:581e5c0c8094b:0-bitcoin-price-keeps-falling-under-60k-here-is-why/ | EN | Bitcoin BINANCE:BTCUSD has struggled to maintain above $60,000 for an entire week, with the latest rejection occurring on Aug. 27. The subsequent 9.9% two-day correction, which saw Bitcoin fall to a low of $57,918 on Aug. 28, resulted in the forced liquidation of $143 million in leveraged BTC longs… | Bitcoin BINANCE:BTCUSD has struggled to maintain above $60,000 for an entire week, with the latest rejection occurring on Aug. 27. The subsequent 9.9% two-day correction, which saw Bitcoin fall to a low of $57,918 on Aug. 28, resulted in the forced liquidation of $143 million in leveraged BTC longs on derivatives exchanges. Traders are now questioning why Bitcoin keeps failing to break above $60,000.
Spot Bitcoin ETF outflows are a lagging indicator of Bitcoin’s demand
Some analysts attribute the recent weakness to the disappointing spot Bitcoin exchange-traded fund (ETF) outflows. However, such data is typically reflexive, meaning traders often turn bearish after a news event alters their perception. More crucially, Bitcoin's most recent correction on Aug. 29 coincided with movements in the S&P 500 index.
One significant change leading up to this event was the sharp increase in the 2-year US Treasury yields, which had previously dipped to 3.85%, the lowest level in over three weeks. However, on Aug. 29, a sharp reversal occurred, driving the yield to 3.90%, signaling that investors were offloading these instruments in favor of higher returns.
According to a Zacks Research note, this reduced risk appetite was driven by uncertainty surrounding Nvidia's corporate earnings, released after the stock market closed on Aug. 29, and the upcoming July US Personal Consumption Expenditures (PCE) index on Aug. 30. At the time, investors were concerned that a high inflation reading could delay anticipated interest rate cuts by the central bank.
Despite exceeding estimates, Nvidia shares reacted negatively, dropping to their lowest level in two weeks during after-hours trading. As for the inflation metric, there were no surprises as the PCE rose 2.6% year-over-year, boosting investor confidence that the US Federal Reserve (Fed) might soon ease some of its restrictive monetary policies aimed at curbing inflation.
Thus, Bitcoin’s sharp rejection at the $61,000 level on Aug. 29 can be attributed to concerns from traditional finance investors, particularly due to the heavy reliance on tech companies' growth, driven by artificial intelligence demand, and the market’s pricing of a 100% probability of an interest rate cut in September.
In essence, even slightly less favorable economic indicators can cause drastic movements in fixed-income markets, which in turn reverberate through the stock market and affect Bitcoin’s price, creating a cascading effect. However, this does not fully explain why Bitcoin failed to sustain the $60,000 support on previous occasions throughout August.
Bitcoin is already a top-10 global tradable asset, but further upside is possible
Rather than fixating on Bitcoin’s nominal price, one should consider how the cryptocurrency’s $1.2 trillion market capitalization compares to broader financial markets and currencies. This level already places Bitcoin among the top 10 global financial instruments, ahead of Warren Buffett’s Berkshire Hathaway conglomerate and TSMC, the world’s largest chipmaker.
To put this into perspective, Berkshire Hathaway’s annualized profits are $121 billion, meaning the company could purchase the entire Bitcoin market capitalization with 10 years’ worth of its net income. In fact, the company holds $277 billion in cash and equivalents, which would be enough to acquire 4.61 million BTC at $60,000, or 23% of the coins currently in circulation.
When viewed from the perspective of base money—physical currency and bank reserves held by commercial banks at their respective central banks—Bitcoin’s $1.2 trillion value aligns with that of the United Kingdom’s British pound. Under this analysis, Bitcoin’s only remaining competitors are the US dollar, the euro, the Chinese yuan, and the Japanese yen.
None of these fundamental metrics seem sufficient to keep Bitcoin’s price below $60,000. However, they do suggest that traders are likely questioning the current adoption rate, including the size of the Bitcoin ETF market and the use of Bitcoin’s network as a settlement layer. For now, investors appear to be prioritizing tech growth and the relative stability of the world’s largest economies, but this sentiment could easily shift over time.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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cointelegraph:0225deb49094b:0 | BTCUSDT | DeFi protocol Threshold proposes Bitcoin wrapper merger to ‘save WBTC’ | cointelegraph | https://cointelegraph.com | 2024-08-30T17:19:10+00:00 | https://www.tradingview.com/news/cointelegraph:0225deb49094b:0-defi-protocol-threshold-proposes-bitcoin-wrapper-merger-to-save-wbtc/ | null | [{'symbol': 'BINANCE:BTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}] | /news/cointelegraph:0225deb49094b:0-defi-protocol-threshold-proposes-bitcoin-wrapper-merger-to-save-wbtc/ | EN | Bitcoin BINANCE:BTCUSD decentralized finance (DeFi) protocol Threshold is proposing to merge its own BTC “wrapper” token, tBTC, into Wrapped Bitcoin (WBTC) in a bid to “save WBTC” following concerns about an impending change in control of the popular BTC wrapper, according to an Aug. 29 proposal in… | Bitcoin BINANCE:BTCUSD decentralized finance (DeFi) protocol Threshold is proposing to merge its own BTC “wrapper” token, tBTC, into Wrapped Bitcoin (WBTC) in a bid to “save WBTC” following concerns about an impending change in control of the popular BTC wrapper, according to an Aug. 29 proposal in Threshold’s governance forum.
On Aug. 9, BitGo — the cryptocurrency custodian holding the Bitcoin backing WBTC — announced a planned partnership with BiT Global, a Hong Kong-based crypto exchange. Per the partnership, which aims to diversify WBTC’s United States-centric footprint, BiT Global is expected to gain partial control of the multisignature wallet custodying WBTC’s Bitcoin backing.
“This announcement has proven controversial due to the involvement of Justin Sun, with many in the ecosystem, expressing concern over his ‘affiliated projects show worrying signs of possible misappropriation’ of collateral,” Threshold’s proposal said.
Threshold seeks to address these fears by “hot swapping [WBTC’s] centralized custody and merchant-based mint and burn model with Threshold’s decentralized custody and permissionless mint/redeem mechanism,” according to the proposal.
WBTC is the most popular Bitcoin wrapper, with approximately $9 billion in market capitalization, according to CoinMarketCap. Bitcoin wrappers are ERC-20 tokens backed by BTC.
The proposal aims to resolve this by effectively transferring control of WBTC to Threshold, where WBTC would purportedly benefit from the decentralized autonomous organization’s (DAO) “decentralized custody and permissionless bridging mechanism.”
Per the plan, Threshold would be granted “merchant (mint/redeem) privileges for WBTC and other merchants [would be] removed. The WBTC DAO privileges (e.g. freeze function, etc.) [would be] transferred to Threshold DAO,” the proposal said.
Threshold would then effectively deprecate its own BTC wrapper, tBTC, with further tBTC minting being “disabled and the existing tBTC supply made redeemable 1:1 for WBTC (and remains redeemable for native BTC),” according to the proposal.
In an Aug. 11 post on the MakerDAO forum, risk management firm Block Analitica Labs (BA Labs) proposed closing all new wBTC debts and preventing new borrowing against wBTC collateral in an upcoming executive vote, citing similar concerns.
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benzinga:5a83a7020094b:0 | QQQ | Chipmakers Tick Up As Nvidia Halts Sell-Off, Dollar Rises As Traders Revise Fed Wagers: What's Driving Markets Friday? | benzinga | https://benzinga.com/ | 2024-08-30T17:12:30+00:00 | https://www.tradingview.com/news/benzinga:5a83a7020094b:0-chipmakers-tick-up-as-nvidia-halts-sell-off-dollar-rises-as-traders-revise-fed-wagers-what-s-driving-markets-friday/ | null | [{'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'NASDAQ:MRVL', 'base_logoid': 'marvell-tech'}, {'symbol': 'NASDAQ:MDB', 'base_logoid': 'mongodb'}, {'symbol': 'AMEX:SPY', 'base_logoid': 'spdr-sandp500-etf-tr'}, {'symbol': 'AMEX:DIA', 'base_logoid': 'spdr-sandp500-etf-tr'}, {'symbol': 'NASDAQ:QQQ', 'base_logoid': 'invesco'}, {'symbol': 'AMEX:IWM', 'base_logoid': 'ishares'}, {'symbol': 'AMEX:XLK', 'base_logoid': 'sector/technology'}, {'symbol': 'AMEX:XLE', 'base_logoid': 'sector/energy'}, {'symbol': 'NASDAQ:ADSK', 'base_logoid': 'autodesk'}, {'symbol': 'NYSE:DELL', 'base_logoid': 'dell'}, {'symbol': 'NYSE:ESTC', 'base_logoid': 'elastic-n-v'}, {'symbol': 'NASDAQ:LULU', 'base_logoid': 'lululemon-athletica'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}] | /news/benzinga:5a83a7020094b:0-chipmakers-tick-up-as-nvidia-halts-sell-off-dollar-rises-as-traders-revise-fed-wagers-what-s-driving-markets-friday/ | EN | Wall Street is seeing a relatively timid session, with the major indices displaying a slight negative performance. While a timid rebound in semiconductor stocks is taking shape, aided by NVIDIA Corp. NASDAQ:NVDA’s pause of the sell-off in the previous session, the Dow Jones edged lower after reachi… | Wall Street is seeing a relatively timid session, with the major indices displaying a slight negative performance.
While a timid rebound in semiconductor stocks is taking shape, aided by NVIDIA Corp. NASDAQ:NVDA’s pause of the sell-off in the previous session, the Dow Jones edged lower after reaching record
The weak risk sentiment on Friday threatens to end the S&P 500 and Nasdaq 100's streak of three consecutive weekly rallies
The AI darling rose by 1% by midday in New York, contributing to the positive momentum in chipmakers, buoyed by strong earnings from Marvell Technology Inc. NASDAQ:MRVL and MongoDB Inc. NASDAQ:MDB.
On the data front, the Federal Reserve's preferred inflation gauge — the Personal Consumption Expenditure (PCE) Price Index — remained flat in July, breaking a three-month streak of declines.
While the index came in slightly below expectations of an increase, personal spending and income data accelerated more than anticipated, indicating that the positive momentum among U.S. consumers extended into the first month of the current quarter.
The dollar gained 0.3% on the back of the economic data, as traders trimmed expectations on a large 50-basis-point rate cut in September. The greenback’s strength pressured commodities: gold dropped 0.7%, while oil declined by 2.7%.
The sentiment in the cryptocurrency market remains negative, with Bitcoin down 2.3%.
Friday’s Performance In Major U.S. Indices, ETFs
Major IndicesPrice1-day %chgNasdaq 10019,367.310.2%S&P 5005,588.51-0.1%Dow Jones41,177.11-0.4%Russell 20002,192.94-0.4%According to Benzinga Pro data:
The SPDR S&P 500 ETF Trust AMEX:SPY was 0.1% lower to $557.38.The SPDR Dow Jones Industrial Average AMEX:DIA fell 0.4% to $412.33.The tech-heavy Invesco QQQ Trust Series NASDAQ:QQQ was up 0.1% to $470.97.The iShares Russell 2000 ETF AMEX:IWM fell 0.6% to $217.58.The Technology Select Sector SPDR Fund AMEX:XLK outperformed, up by 0.1%. The Energy Select Sector SPDR Fund AMEX:XLE lagged, down by 0.7%.Friday’s Stock Movers
Marvell Technology Inc. rose 9.1%; eer MongoDB Inc. soared 16%.Other stocks reacting to company earnings included Autodesk, Inc. NASDAQ:ADSK up 1.7%, Dell Technologies Inc. NYSE:DELL up 3%, Elastic N.V. NYSE:ESTC down over 27%, Lululemon Athletica Inc. NASDAQ:LULU down about 0.7% and Ulta Beauty, Inc. NASDAQ:ULTA down 4.3%).Intel Corp. NASDAQ:INTC soared by 7.7% after rumors indicating he company is considering options, including separating its product design and manufacturing divisions.Read Next:
Photo: Lucky Photographer via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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cryptonews:8f457e8cc094b:0 | BTCUSDT | Top Crypto Performers Today August 30 – KEROSENE, ZANO, YFII | cryptonews | https://cryptonews.com | 2024-08-30T17:12:20+00:00 | https://www.tradingview.com/news/cryptonews:8f457e8cc094b:0-top-crypto-performers-today-august-30-kerosene-zano-yfii/ | null | [{'symbol': 'BITFINEX:EOSUST', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCEOS'}, {'symbol': 'BITSTAMP:XRPUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXRP'}, {'symbol': 'OANDA:ETHUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCETH'}, {'symbol': 'BITSTAMP:ETHEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCETH'}, {'symbol': 'BITSTAMP:USDTUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCUSDT'}, {'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'OANDA:BCHUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBCH'}, {'symbol': 'OANDA:LTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCLTC'}, {'symbol': 'BITSTAMP:XLMEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCXLM'}, {'symbol': 'BITSTAMP:BCHEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCBCH'}, {'symbol': 'BITSTAMP:XLMUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXLM'}, {'symbol': 'BITSTAMP:LTCEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCLTC'}, {'symbol': 'BITSTAMP:BTCEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCBTC'}] | /news/cryptonews:8f457e8cc094b:0-top-crypto-performers-today-august-30-kerosene-zano-yfii/ | EN | Softer-than-expected US Core PCE inflation data has failed to lift the mood in crypto markets on Monday, even though it bolsters the case for a series of Fed interest rate cuts beginning in just a few weeks, with very few top crypto performers of note. 🚨Just In: July US PCE annual inflation rises 2… | Softer-than-expected US Core PCE inflation data has failed to lift the mood in crypto markets on Monday, even though it bolsters the case for a series of Fed interest rate cuts beginning in just a few weeks, with very few top crypto performers of note.
🚨Just In: July US PCE annual inflation rises 2.5%, below expectations for 2.6%.Core PCE inflation increased 2.6% Y/Y, compared to forecasts for 2.7%.The Fed has a green light to cut rates by 50BPS in September. — Jesse Cohen (@JesseCohenInv)
Indeed, Bitcoin (BTC) was last down 4% in 24 hours to $58,000 and Ethereum (ETH) down 4.6% to below $2,450.
That’s according to , which shows no cryptos trading in the green in the top 100.
Some bulls will be disappointed by the underwhelming price action this week despite positive macro catalysts.
was strong, and pointed to a continued boom in AI.
But that has failed to bolster institutional demand for major crytpos.
Bitcoin ETFs have experienced outflows two days on the trot, per .
Ethereum ETFs, meanwhile, also continue to .
So investors hunting top crypto performers today have had to turn to riskier alt-coins markets.
Here are some top crypto performers today that will be on their radar. Top Crypto Performers Today – Which Are They?
Overcollaterized stablecoin protocol Keresene (KEROSENE) is up 17% in the past 24 hours, making it one of the top crypto performers today .
The crypto was last around $0.30, up around 3x so far this week.
Its market cap remains minuscule at just $27.7 million.
As hype builds surrounding the protocol’s high yields, KEROSENE could go a lot higher.
The DYAD flywheel is finally hereStep 1: claim a Note NFTStep 2: deposit wETH or wstETH, mint DYAD and LPStep 3: Earn three figure yield on the USDC – DYAD stable pair, the best stable yield on mainnetUse the link in our bio to get started — DYAD (@0xDYAD)
Of course, its a speculative protocol and it remains a highly risky coin to invest in. Trader must do their own due diligence.
Elsewhere, Zano (ZANO) is another one of the top crypto performers today, also up around 17%.
The crypto, which powers a confidentiality and security focused blockchain, was last trading close to $5.70, its market cap around $83 million.
The privacy-focused blockchain professes to solve a lot of the issues faced by traditional tokens.
Why choose traditional blockchains like , , , and others that expose your data and compromise your privacy putting you at risk?Security of your assets is critical. Choose , the leading blockchain platform designed with confidentiality and privacy at its core. — Zano (@zano_project)
If it garners real usage, its market cap could go a lot higher. That could rank it as the best crypto to buy today.
The final name on the top crypto performers today list to mention is a small coin called DFI.money (YFII).
This token is up 9% in the past 24 hours. But potential investors should be very careful.
There is a warning on CoinGecko’s website that there might be pump-and-dump activities taking place related to the token. Better Alternative to Consider
The above mentioned alt-coins are all very high risk. Even if they aren’t pump-and-dumps, as YFII might be, these coins have high volatility.
That leaves investors at risk of FOMOing in and not doing their due diligence properly.
By contrast, investing in presales is a good way to avoid these issues.
Presales normally run for a few weeks, allowing investors time to conduct their research on a project properly.
Presales also typically allow investors to get into a project at a discounted price.
That’s why analysts at Cryptonews.com keep a close eye on the presale market.
Here are some of their top picks to check out right now.
20 Best Crypto Presales to Invest In Now
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forexlive:2a8d65273094b:0 | USDJPY | David Rosenberg sees a sharp fall in USD/JPY ahead | forexlive | https://www.forexlive.com/ | 2024-08-30T16:54:31+00:00 | https://www.tradingview.com/news/forexlive:2a8d65273094b:0-david-rosenberg-sees-a-sharp-fall-in-usd-jpy-ahead/ | null | [{'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}] | /news/forexlive:2a8d65273094b:0-david-rosenberg-sees-a-sharp-fall-in-usd-jpy-ahead/ | EN | USD/JPY monthlyGlobal equity semi-permabear David Rosenberg is out with a new commentary and he's wading into the foreign exchange market with a strong case to sell USD/JPY.He said it "could be the most glaring price anomaly on the planet" and it carries the headline "Want to make a 30% return with… | USD/JPY monthly
Global equity semi-permabear David Rosenberg is out with a new commentary and he's wading into the foreign exchange market with a strong case to sell USD/JPY.
He said it "could be the most glaring price anomaly on the planet" and it carries the headline "Want to make a 30% return with little risk? Here’s a rare opportunity to do so."
Those are the kinds of statements that have humbled many men in markets but the former Merrill Lynch analyst isn't afraid to stir the pot. You can read it here but some highlights:
JPY hit 3-decade low in July at 161, now at 146- but story far from overBoJ policy shift: Rate hikes just getting started, bucking global trendJapan's economic outlook upgraded for first time in 15 monthsWeak yen boosting inflation: Import prices up 10.8% YoYMean reversion target: 113 yen per dollar (20% upside)Big Mac Index shows yen 44% undervaluedSays to split the difference on a 30% return trade: Long JPY via money markets, no equity/duration riskKey drivers: BoJ tightening vs Fed easing, unwinding of yen carry trades"What has caused the slide in the yen has been the financial repression engineered by the BoJ, but that phase has now come to an end — first viaforex intervention and second by rate hikes that are far from over." | forex | null | null | null |
DJN_DN20240830007094_20240830007094:0 | SPX | S&P 500 Falls 2.90 Points (0.05%) | dow-jones | https://www.tradingview.com/news/providers/dow-jones/ | 2024-08-30T16:45:00+00:00 | https://www.tradingview.com/news/DJN_DN20240830007094_20240830007094:0/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}] | /news/DJN_DN20240830007094_20240830007094:0/ | EN | null | null | indices | null | null | null |
u_today:2c01594ca094b:0 | BTCUSDT | Nearly $500 Million BTC Withdrawal Stuns Coinbase, Ripple Burns Stablecoin Tokens, Shytoshi Kusama Highlights Epic SHIB Move in Gaming Sphere: Crypto News Digest by U.Today | u_today | https://u.today | 2024-08-30T16:39:00+00:00 | https://www.tradingview.com/news/u_today:2c01594ca094b:0-nearly-500-million-btc-withdrawal-stuns-coinbase-ripple-burns-stablecoin-tokens-shytoshi-kusama-highlights-epic-shib-move-in-gaming-sphere-crypto-news-digest-by-u-today/ | null | [{'symbol': 'BITSTAMP:XRPUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXRP'}, {'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:SHIBUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCSHIB'}, {'symbol': 'BITSTAMP:BTCUSDC', 'logoid': 'crypto/XTVCUSDC', 'base_logoid': 'crypto/XTVCBTC'}] | /news/u_today:2c01594ca094b:0-nearly-500-million-btc-withdrawal-stuns-coinbase-ripple-burns-stablecoin-tokens-shytoshi-kusama-highlights-epic-shib-move-in-gaming-sphere-crypto-news-digest-by-u-today/ | EN | Here are the top three news stories by U.Today from the past day.Nearly $500 million Bitcoin withdrawal stuns major U.S. exchangeAccording to data provided by Whale Alert, yesterday, leading U.S. crypto exchange Coinbase witnessed the withdrawal of nearly half a billion dollars worth of Bitcoin. A… | Here are the top three news stories by U.Today from the past day.
Nearly $500 million Bitcoin withdrawal stuns major U.S. exchange
According to data provided by Whale Alert, yesterday, leading U.S. crypto exchange Coinbase witnessed the withdrawal of nearly half a billion dollars worth of Bitcoin. A total of 7,999 BTC, or roughly $472.8 million, left the exchange's cold wallet in several transactions to an address with the code "13F8P8." Later on, this massive amount of flagship crypto was sent to 50 other unidentified addresses in exact portions of 157 BTC, or $9.27 million in current prices. It remains unknown what stands behind this remarkable activity. Some speculated that it could be one of the Bitcoin ETF issuers (BlackRock, for example), which is accumulating crypto despite all the recent setbacks and volatile price movements.
Ripple burns stablecoin tokens
As reported by @RLUSD_TRACKER, an X handle that tracks the minting and redemption of Ripple's stablecoin RLUSD, yesterday, 185 Ripple USD (RLUSD) tokens were burned at the RLUSD Treasury. The tokens were destroyed by sending them back to the issuer account. Earlier this month, U.Today reported that Ripple started testing its stablecoin in private beta. Per XRP Scan data, the minting process began roughly a week ago with the aforementioned 185 RLUSD. Currently, access to the new product is limited to some of the company's enterprise partners. After the beta testing stage, the stablecoin will become available to the general public.
Shytoshi Kusama highlights epic SHIB move in gaming sphere
In a recent X post, Shiba Inu lead Shytoshi Kusama praised the latest move by Shiba Eternity; the project has gone through rebranding and is now called PlayWithShib, with its X account also renamed from @ShibaEternity to @playwithshib. "Such an epic move!" wrote Kusama in his post. The renaming is not the only change the project has prepared for the community; from now on, it will expand its presence in the gaming sphere far beyond its first NFT card game for smartphones. At the end of July, the Shiba Eternity team announced its intentions to release multiple additional games on Shibarium, a layer-2 solution. Also, at the beginning of August, Shiba Inu marketing lead Lucie teased a major update to this game – its transition from Web2 to Web3.
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cryptonews:a54c202c7094b:0 | BTCUSDT | Bitcoin Price ‘Near a Bottom’ as Hash Price Lows Echo Pre-2021 Bull Run Patterns | cryptonews | https://cryptonews.com | 2024-08-30T16:38:43+00:00 | https://www.tradingview.com/news/cryptonews:a54c202c7094b:0-bitcoin-price-near-a-bottom-as-hash-price-lows-echo-pre-2021-bull-run-patterns/ | null | [{'symbol': 'OANDA:ETHUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCETH'}, {'symbol': 'BITSTAMP:USDTUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCUSDT'}, {'symbol': 'OANDA:LTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCLTC'}, {'symbol': 'BITSTAMP:XRPUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXRP'}, {'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:ETHEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCETH'}, {'symbol': 'OANDA:BCHUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBCH'}, {'symbol': 'BITSTAMP:XLMUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXLM'}, {'symbol': 'BITSTAMP:BCHEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCBCH'}, {'symbol': 'BITFINEX:EOSUST', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCEOS'}, {'symbol': 'BITSTAMP:LTCEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCLTC'}, {'symbol': 'BITSTAMP:XLMEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCXLM'}, {'symbol': 'BITSTAMP:BTCEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCBTC'}] | /news/cryptonews:a54c202c7094b:0-bitcoin-price-near-a-bottom-as-hash-price-lows-echo-pre-2021-bull-run-patterns/ | EN | Bitcoin hash price, when compared to BTC price action, seems to be pointing toward a Bitcoin bottom as it mirrors the conditions that preceded the 2021 breakout to new all-time highs.In an August 30th , on-chain analytics platform CryptoQuant suggested that Bitcoin price action may be approaching a… | Bitcoin hash price, when compared to BTC price action, seems to be pointing toward a Bitcoin bottom as it mirrors the conditions that preceded the 2021 breakout to new all-time highs.
In an August 30th , on-chain analytics platform CryptoQuant suggested that Bitcoin price action may be approaching a bottom.
CryptoQuant noted that Bitcoin’s hash price, which measures the revenue earned by miners per terahash per second, is conspicuously low.Bitcoin price vs hash price. Source: CryptoQuant.
This pattern is significant as it underscores a recurring relationship where “historically, lower Hash Price periods have coincided with Bitcoin price bottoms.” A notable example of this pattern occurred in 2020 following the COVID-19-induced cross-market crash.
During this time, Bitcoin’s price hit significant lows, coinciding with a sharp decline in hashprice. However, as the year progressed, especially after the halving event, Bitcoin’s price began a robust upward trajectory, culminating in a breakout to new all-time highs.Bitcoin Miners Start Accumulating: Is the Bitcoin Price Stabilizing?
Miner behaviour seems to support a potential turnaround, as they seem to have started accumulating again after a long period of outflows, according to .Bitcoin price vs Bitcoin miner reserves. Source: CryptoQuant.
Miner reserves have recovered levels unseen since June, with notable pick-up since August 24th.
Earlier this month, CryptoQuant CEO Ki Young Ju , suggesting that it is painting a picture of sustainability.
He pointed out that “miner capitulation is nearly over, with hash rate nearing all-time highs,” referencing the post-halving events captured by the Hash Ribbons indicator.
Ju also noted that the cost of mining in the US stands at approximately $43,000 per Bitcoin. He suggested that the current hash rate is likely to remain stable as long as Bitcoin prices don’t dip below this threshold.
This reinforces the potential for Bitcoin’s price to stabilize and recover in line with historical trends following periods of miner capitulation.When Could We See A Bitcoin Surge?
Long-term Bitcoin metrics continue to buoy the bullish narrative this month — though timing of the next leg of this bull cycle remains a hot topic in the crypto community, especially given current market conditions.
Notably, the Bitcoin halving could serve as a benchmark for predicting the next surge. In an August 21st X post, CryptoQuant CEO Ki Young Ju noted that past post-halving rallies have typically started in the fourth quarter (Q4) of each halving year.
In the last halving cycle, the bull rally began in Q4. Whales won't let Q4 be boring with a flat YoY performance. — Ki Young Ju (@ki_young_ju)
Young Ju further emphasized that, in his view, “whales won’t let Q4 be boring with a flat YoY performance,” implying that significant market movements are expected as we approach the end of the year.
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tag:reuters.com,2024:newsml_L4N3KH17E:0 | SPX | ナスダックとS&P500、利下げ期待でレイバーデー週末前に上昇 | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T16:34:56+00:00 | https://ja.tradingview.com/news/reuters.com,2024:newsml_L4N3KH17E:0/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'NASDAQ:AMZN', 'base_logoid': 'amazon'}, {'symbol': 'NASDAQ:MSFT', 'base_logoid': 'microsoft'}, {'symbol': 'NASDAQ:SOX', 'base_logoid': 'indices/philadelphia-semiconductor-index'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'SP:S5COND', 'base_logoid': 'sector/consumer-discretionary'}, {'symbol': 'SP:SPN', 'base_logoid': 'sector/energy'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'NYSE:DELL', 'base_logoid': 'dell'}, {'symbol': 'CBOT_MINI:YM1!', 'base_logoid': 'indices/dow-30'}, {'symbol': 'CME_MINI:ES1!', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'CME_MINI:NQ1!', 'base_logoid': 'indices/nasdaq-100'}] | /news/reuters.com,2024:newsml_L4N3KH17E:0/ | JA | 長期休暇を控えた金曜日、ナスダックとS&P500種株価指数は、物価上昇圧力緩和の兆候を受け、9月に予定されている米連邦準備制度理事会（FRB）による利下げ観測が強まり、不安定な取引となった。 ロイターが世論調査したエコノミストによると、中央銀行が好んで使用するインフレ指標である 個人消費支出指数（ (link) ）は、7月に年率で2.5％上昇した。月次ベースでは予想通り0.2％の上昇。 金利に敏感なメガ株では、アマゾン・ドット・コム NASDAQ:AMZNが1.8％、マイクロソフト NASDAQ:MSFTが0.4％それぞれ上昇した。チップ株も上昇し、ブロードコム>は2.3％高… | 長期休暇を控えた金曜日、ナスダックとS&P500種株価指数は、物価上昇圧力緩和の兆候を受け、9月に予定されている米連邦準備制度理事会（FRB）による利下げ観測が強まり、不安定な取引となった。
ロイターが世論調査したエコノミストによると、中央銀行が好んで使用するインフレ指標である 個人消費支出指数（ (link) ）は、7月に年率で2.5％上昇した。月次ベースでは予想通り0.2％の上昇。
金利に敏感なメガ株では、アマゾン・ドット・コム NASDAQ:AMZNが1.8％、マイクロソフト NASDAQ:MSFTが0.4％それぞれ上昇した。チップ株も上昇し、ブロードコム>は2.3％高、アドバンスト・マイクロ・デバイセズ>は0.5％高となり、フィラデルフィアSE半導体指数 NASDAQ:SOXの1.5％上昇に貢献した。
金曜の PCE報告は、 FRBの 9月会合前最後のもの で、 先週パウエル議長が (link)、差し迫った 政策調整への支持を表明 したことに続く もの だ。
CMEグループのFedWatchツールによると、25ベーシスポイント引き下げの確率は67.5%、50ベーシスポイント引き下げの確率は32.5%となっている。
グローバル・インベストメンツのシニア・ポートフォリオ・マネジャー、トーマス・マーティン氏は、「利下げサイクルの開始を示唆するデータだ」と述べた。
マーティン氏によれば、投資家は引き続き労働市場に注目しており、来週には多数の雇用統計が予定されているという。
8月上旬、労働市場の急激な減速の兆候が米国の景気後退懸念に 火をつけた後、 世界市場はリスク資産にとって波乱の1ヶ月の終わりに近づいている。日本円 FX_IDC:USDJPYキャリー・トレードの影響により、景気後退は悪化した。
その後、木曜日の経済成長率の上方修正（(link)）を含むその後のデータが投資家の神経を和らげたため、リスクテイクは改善し、ダウ DJ:DJIは過去最高値付近で推移している。
米国東部時間午前11時42分現在、ダウ平均 DJ:DJIは86.41ポイント（0.21％）安の41,248.64、S&P500 SP:SPXは6.36ポイント（0.11％）高の5,598.32、ナスダック総合 TVC:IXICは49.01ポイント（0.28％）高の17,565.44。
S&P500の11セクターのほとんどは横ばいだったが、消費者裁量SP:S5CONDは0.7%上昇し、トレンドに逆らった 。エネルギーSP:SPNは原油価格の下落を受け、 0.6%下落した。
ハイテク株中心のナスダック TVC:IXICとS&P500 SP:SPXは、 エヌビディア NASDAQ:NVDAが明るい決算とほぼ横ばいの見通しにもかかわらず、 (link) 、投資家の 高い期待に届かなかったことから、木曜日は 下落して引けた。AIチップの代表格であるエヌビディアは、前場に6.4％下落した後、0.4％上昇した。
ベンチマークのS&P500とダウは月間で上昇に転じるが、ナスダックは下落が続けば8月も下落で終わる見通しだ。
他の銘柄では、マーベル・テクノロジー >が 第3四半期の業績予想（(link)）を上回り、7.9％上昇した。
Ulta (link) Beauty NASDAQ:ULTAは 年間業績予想を下方修正 し3.0％下落、 インテル NASDAQ:INTC は合併や分割を 含む選択肢を模索しているとの 報道（(link) ）を受け 9.2％上昇した。
デル・テクノロジーズ NYSE:DELLは、年間売上高と利益の見通しを上方 修正し、3.4％上昇した (link)。
レイバー・デー（労働者の日）の祝日のため、週末を控えて取引量は減少する見込み。
ニューヨーク証券取引所では下落銘柄が上昇銘柄を1.06対1、ナスダックでは1.16対1で上回った。
S&P指数は57の52週高値と1つの安値を更新、ナスダックは63の高値と51の安値を更新した。
| indices | null | null | null |
tag:reuters.com,2024:newsml_L4N3KH13Y:0 | USDJPY | Nasdaq, S&P 500 inch up before Labor Day weekend on rate-cut hopes | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T16:34:38+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L4N3KH13Y:0-nasdaq-s-p-500-inch-up-before-labor-day-weekend-on-rate-cut-hopes/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'NASDAQ:AMZN', 'base_logoid': 'amazon'}, {'symbol': 'NASDAQ:MSFT', 'base_logoid': 'microsoft'}, {'symbol': 'NASDAQ:AVGO', 'base_logoid': 'broadcom'}, {'symbol': 'NASDAQ:AMD', 'base_logoid': 'advanced-micro-devices'}, {'symbol': 'NASDAQ:SOX', 'base_logoid': 'indices/philadelphia-semiconductor-index'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'SP:S5COND', 'base_logoid': 'sector/consumer-discretionary'}, {'symbol': 'SP:SPN', 'base_logoid': 'sector/energy'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'NASDAQ:MRVL', 'base_logoid': 'marvell-tech'}, {'symbol': 'NASDAQ:ULTA', 'base_logoid': 'ulta-beauty'}, {'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'NYSE:DELL', 'base_logoid': 'dell'}, {'symbol': 'CBOT_MINI:YM1!', 'base_logoid': 'indices/dow-30'}, {'symbol': 'CME_MINI:ES1!', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'CME_MINI:NQ1!', 'base_logoid': 'indices/nasdaq-100'}] | /news/reuters.com,2024:newsml_L4N3KH13Y:0-nasdaq-s-p-500-inch-up-before-labor-day-weekend-on-rate-cut-hopes/ | EN | The Nasdaq and the S&P 500 inched up in choppy trading on Friday ahead of the long weekend, after signs of moderating price pressures strengthened bets for an interest-rate cut at the Federal Reserve's upcoming meeting in September. The Personal Consumption Expenditure index , the centr… | The Nasdaq and the S&P 500 inched up in choppy trading on Friday ahead of the long weekend, after signs of moderating price pressures strengthened bets for an interest-rate cut at the Federal Reserve's upcoming meeting in September.
The Personal Consumption Expenditure index , the central bank's preferred inflation gauge, rose 2.5% in July on an annual basis, compared to an estimate of 2.6%, according to economists polled by Reuters. On a monthly basis, it rose 0.2% as expected.
Among rate-sensitive megacaps, Amazon.com NASDAQ:AMZN and Microsoft NASDAQ:MSFT added 1.8% and 0.4%, respectively. Chip stocks also rose, with Broadcom NASDAQ:AVGO climbing 2.3% and Advanced Micro Devices NASDAQ:AMD gaining 0.5%, aiding the Philadelphia SE Semiconductor index's NASDAQ:SOX 1.5% rise.
Friday's PCE report is the last one before the Fed's September meeting and follows Chair Jerome Powell's comments last week, when he expressed support for an imminent policy adjustment.
Odds of a 25-basis-point reduction stood at 67.5%, according to the CME Group's FedWatch Tool, while those of a 50-bps reduction were at 32.5%.
"The data bakes in further that there is going to be a start to the rate-cutting cycle," said Thomas Martin, senior portfolio manager at GLOBALT Investments.
Martin said investors remain focused on the labor market, with a slew of employment reports scheduled for the coming week.
Global markets are nearing the end of a tumultuous month for riskier assets, after signs of a sudden moderation in the labor market sparked recession fears in the United States in early August. The influence of the Japanese yen FX_IDC:USDJPY carry trade worsened the rout.
Risk-taking has improved since then, with the Dow DJ:DJI hovering near record highs, as subsequent data including Thursday's upward revision to economic growth soothed investor nerves.
At 11:42 a.m. ET, the Dow Jones Industrial Average DJ:DJI was down 86.41 points, or 0.21%, at 41,248.64, the S&P 500 SP:SPX was up 6.36 points, or 0.11%, at 5,598.32, and the Nasdaq Composite TVC:IXIC was up 49.01 points, or 0.28%, at 17,565.44.
Most of the 11 S&P 500 sectors traded flat, but Consumer Discretionary SP:S5COND bucked the trend with a 0.7% advance. Energy SP:SPN was the biggest laggard with a 0.6% drop, tracking lower oil prices.
The tech-focused Nasdaq TVC:IXIC and the S&P 500 SP:SPX closed lower on Thursday after Nvidia NASDAQ:NVDA failed to match sky-high investor expectations, despite upbeat results and a broadly in-line forecast. The AI-chip bellwether was up 0.4% after a 6.4% drop in the previous session.
The benchmark S&P 500 and the Dow are set for monthly gains, while the Nasdaq is on track to end August lower, if losses hold.
Among other stocks, Marvell Technology NASDAQ:MRVL jumped 7.9% after forecasting third-quarter results above estimates.
Ulta Beauty NASDAQ:ULTA slid 3.0% after it trimmed its annual results forecasts, while Intel NASDAQ:INTC rose 9.2% following a report it was exploring options which could include a merger or a split.
Dell Technologies NYSE:DELL advanced 3.4% after lifting its annual revenue and profit forecasts.
Trading volumes are expected to thin ahead of the extended weekend due to the Labor Day holiday.
Declining issues outnumbered advancers for a 1.06-to-1 ratio on the NYSE, and by a 1.16-to-1 ratio on the Nasdaq.
The S&P index recorded 57 new 52-week highs and one new low, while the Nasdaq recorded 63 new highs and 51 new lows.
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te_news:427039:0 | SPX | US Stocks Pare Some Gains | trading-economics | https://www.tradingview.com/news/providers/trading-economics/ | 2024-08-30T16:29:18+00:00 | https://www.tradingview.com/news/te_news:427039:0-us-stocks-pare-some-gains/ | null | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'SEED_SMAYXOR_GEX:SPX', 'logoid': '', 'base_logoid': ''}, {'symbol': 'SEED_SZILKA88_TANUKI:SPX', 'logoid': '', 'base_logoid': ''}] | /news/te_news:427039:0-us-stocks-pare-some-gains/ | EN | US stocks were mixed on Friday afternoon, as investors assessed key inflation data closely watched by the Federal Reserve.The S&P 500 rose 0.3%, the Nasdaq 100 gained 0.4%, while the Dow Jones gave back gains and turned lower.The Personal Consumption Expenditures (PCE) price index, the Fed's prefer… | US stocks were mixed on Friday afternoon, as investors assessed key inflation data closely watched by the Federal Reserve.
The S&P 500 rose 0.3%, the Nasdaq 100 gained 0.4%, while the Dow Jones gave back gains and turned lower.
The Personal Consumption Expenditures (PCE) price index, the Fed's preferred inflation gauge, increased 0.2% month-on-month and 2.5% year-on-year, matching expectations.
This data bolstered hopes for Fed rate cuts later this year, as the economy showed resilience while keeping the door open for potential easing.
In corporate news, Dell Technologies was up 5.2% after its Q2 earnings exceeded expectations.
Intel surged 8.5% on restructuring reports, despite a 56% decline this year.
In contrast, Super Micro Computer dropped 4.1%, making it the S&P 500's worst performer for both the day and August. All the three major averages are aiming to end a volatile month on a positive note, with the S&P 500 rising 3%, the Nasdaq up 2.5% and the Dow adding 1.3%.
| indices | null | null | null |
DJN_DN20240830006776:0 | SPX | S&P 500 Inches Higher After PCE Inflation Holds Steady — WSJ | dow-jones | https://www.tradingview.com/news/providers/dow-jones/ | 2024-08-30T16:04:00+00:00 | https://www.tradingview.com/news/DJN_DN20240830006776:0/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}] | /news/DJN_DN20240830006776:0/ | EN | By Sam Goldfarb and Angus BerwickThe S&P 500 is poised to finish August modestly higher after new data showed consumer spending remained solid last month, further easing anxieties about an economic slowdown.Typically a slow period, August started with a bang as markets swooned on growth fears and t… | By Sam Goldfarb and Angus Berwick
The S&P 500 is poised to finish August modestly higher after new data showed consumer spending remained solid last month, further easing anxieties about an economic slowdown.
Typically a slow period, August started with a bang as markets swooned on growth fears and the unwinding of some crowded trades. But the selloff proved short-lived. Investors have come back around to the "soft landing" narrative, as U.S. growth remains strong and inflation pressures recede.
Friday's data added to the sense of reassurance. Personal spending rose 0.5% in July from a month earlier, up from 0.3% in June.
Personal income was slightly higher than forecast, rising 0.3%, while the Federal Reserve's preferred measure of inflation clocked in as expected at 2.5% on an annual basis. Overall, it was an encouraging report that led traders to slightly temper their expectations for how much the Fed will cut interest rates over the next several months.
In recent market action:
Stock indexes were muted. The S&P 500 and the Nasdaq Composite ticked higher, while the Dow industrials slipped.
Treasury yields also were subdued. The yield on the 10-year note was hovering a little under 3.9%
European markets were buoyant. The Stoxx Europe 600 hit a record intraday high, after data showed eurozone inflation slowing sharply to 2.2%, the lowest since mid-2021.
In Asia, Japan's Nikkei 225 and Hong Kong's Hang Seng Index climbed. A report showing faster-than-expected inflation in Japan raised the chances of another Bank of Japan rate increase.
Write to Sam Goldfarb at [email protected] and Angus Berwick at [email protected]
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
| indices | null | null | null |
u_today:a0a577089094b:0 | BTCUSDT | Michael Saylor Weighs in on Bitcoin as BTC Prices Decline | u_today | https://u.today | 2024-08-30T16:04:00+00:00 | https://www.tradingview.com/news/u_today:a0a577089094b:0-michael-saylor-weighs-in-on-bitcoin-as-btc-prices-decline/ | null | [{'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDC', 'logoid': 'crypto/XTVCUSDC', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:BTCUSDT', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCBTC'}] | /news/u_today:a0a577089094b:0-michael-saylor-weighs-in-on-bitcoin-as-btc-prices-decline/ | EN | Amid the current drop in Bitcoin's price, Michael Saylor, cofounder and chairman of MicroStrategy, has captured the attention in the crypto community with a thought-provoking statement. A staunch bitcoin advocate, Saylor took to X to share his insights, stating, "Success isn’t random—it’s calculate… | Amid the current drop in Bitcoin's price, Michael Saylor, cofounder and chairman of MicroStrategy, has captured the attention in the crypto community with a thought-provoking statement. A staunch bitcoin advocate, Saylor took to X to share his insights, stating, "Success isn’t random—it’s calculated. Bitcoin."
Success isn’t random—it’s calculated. #Bitcoin pic.twitter.com/6dUl37NK6y— Michael Saylor⚡️ (@saylor) August 30, 2024
Saylor's tweet was accompanied by an image that explained his caption. The image bore a mathematical formula derived from Bitcoin variables: 32, which is the total number of halvings to ever occur; 210,000, which is the number of blocks between halvings; 50, which is the number of new Bitcoins issued per block and, lastly, the cumulative number of halvings so far, which is 2i.
The timing of Saylor's tweet coincides with a period of volatility on the cryptocurrency market, where Bitcoin experienced a significant price drop. Several factors have contributed to this decline, including macroeconomic uncertainties and profit-taking by investors.
Several crypto assets are in the red, with Bitcoin down 3.34% in the last 24 hours to $58,167. Bitcoin experienced profit-taking after reaching highs of $61, 194 in yesterday's trading session, falling to an intraday low of $58,027 at press time after losing the $59,000 level.
Ethereum, Shiba Inu, Solana and Chainlink posted losses between 3% and 6%. FET, TAO, WIF and Floki had larger losses between 7% and 18%.
Saylor's message speaks volumes
Saylor's message, "Success isn’t random—it’s calculated," underscores his Bitcoin approach. MicroStrategy, Saylor's company, started acquiring Bitcoin in August 2020 as a hedge against inflation and an alternative to cash.
MicroStrategy, led by Saylor, declared 226,500 Bitcoin holdings on July 31, up a few coins since its most recent purchase announcement in mid-June. The 226,500 Bitcoins were purchased for $8.3 billion, or an average of $36,821 per token. For Saylor and MicroStrategy, Bitcoin is not a speculative gamble but a carefully considered strategy.
Saylor recently stated that he becomes more bullish on Bitcoin with each passing day.
| crypto | null | null | null |
cryptonews:7d4002d84094b:0 | BTCUSDT | Shiba Inu Is 84% Below ATH, Is It Time To Buy $SHIB At Discount? | cryptonews | https://cryptonews.com | 2024-08-30T15:57:00+00:00 | https://www.tradingview.com/news/cryptonews:7d4002d84094b:0-shiba-inu-is-84-below-ath-is-it-time-to-buy-shib-at-discount/ | null | [{'symbol': 'OANDA:LTCUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCLTC'}, {'symbol': 'BITSTAMP:XRPUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXRP'}, {'symbol': 'OANDA:BCHUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBCH'}, {'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'OANDA:ETHUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCETH'}, {'symbol': 'BITSTAMP:USDTUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCUSDT'}, {'symbol': 'BITFINEX:EOSUST', 'logoid': 'crypto/XTVCUSDT', 'base_logoid': 'crypto/XTVCEOS'}, {'symbol': 'BITSTAMP:ETHEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCETH'}, {'symbol': 'BITSTAMP:BCHEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCBCH'}, {'symbol': 'BITSTAMP:XLMEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCXLM'}, {'symbol': 'BITSTAMP:XLMUSD', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCXLM'}, {'symbol': 'BITSTAMP:BTCEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCBTC'}, {'symbol': 'BITSTAMP:LTCEUR', 'logoid': 'country/EU', 'base_logoid': 'crypto/XTVCLTC'}] | /news/cryptonews:7d4002d84094b:0-shiba-inu-is-84-below-ath-is-it-time-to-buy-shib-at-discount/ | EN | At its current price of $0.000014, the $8.26 billion market cap Shiba Inu ($SHIB) token, the second largest in the sector, is still 84% short of an all-time high of $0.00008616, posted on October 28, 2021. That’s a little odd when you consider that $SHIB back then was just another Dogecoin ($DOGE… | At its current price of $0.000014, the $8.26 billion market cap Shiba Inu ($SHIB) token, the second largest in the sector, is still 84% short of an all-time high of $0.00008616, posted on October 28, 2021.
That’s a little odd when you consider that $SHIB back then was just another Dogecoin ($DOGE) rival.
Fast forward to today and Shiba Inu houses privacy features and its own proprietary Layer 2 on its home chain Ethereum, called Shibarium, which is cultivating a community of developers and users.
Relative to Dogecoin, Shiba Inu posted heavier overnight losses of about 2% compared with $DOGE’s 1% loss. Over the week, Shiba Inu shed about 4% whereas Dogecoin shed 9%. Clearly, Shiba Inu is behaving like a typical volatile multi-billion dollar meme coin.
However, to better understand the extent of Shiba Inu’s recent performance, we can see that in the early hours UTC of July 16 this year, the token hit $0.00001998 but was unable to catch and hold the psychologically important $0.00002 threshold.
A market-wide crash on August 5 effectively halved the price less than a month later, as $SHIB headed perilously close to $0.00001 before rebounding to its current level around $0.000014.
A stable relative strength index (RSI) of 45 indicates there’s a chance the token could recapture $0.000016 shortly as traders buy the dip.
However, if the number of token burns remains low as it has this week, Shiba Inu could face further devaluation. Source: TradingViewShiba Inu’s $SHIB Dips To Attractive Prices, The Meme Games
Shiba Inu is currently a good dip-buying opportunity. However, uncertainty about the meme coin’s future have seasoned meme coin holders wondering if any promising new projects will be a better store of value.
Some exciting projects are so new that you can still buy them at fixed prices in pre-sale, to be in pole position for post-listing gold rushes.
Dubbed crypto’s official Paris Olympics meme coin by degens, The Meme Games ($MGMES) has already raised $404,000 for its buy-to-win bonus multiplier, since launching alongside the Olympic games earlier this summer.
Investors that purchase $MGMES tokens then select their favorite meme coin avatar, between Dogecoin, Pepe, DogWifHat, Brett and Turbo, and watch them race for a one-in-five chance to claim a 25% bonus on their initial purchase.
$MGMES is currently selling at a fixed presale price of $0.00935. In a day, it rises incrementally to the next fixed price of $0.0094.
This means today’s investors can purchase 10,000 $MGMES at just $93.50
This is the lowest price the token will be at for the rest of the presale season, which runs concurrently with this year’s Paris Olympics.
Participants can purchase $MGMES an unlimited number of times with no minimum purchase requirement to increase their chances of securing multiple 25% token bonuses.
The official project website and encourage investors to stake tokens during the presale to take advantage of the tidy 476% APY on offer right now.
This figure decreases with the number of stakers, so participants will want to stake early and stake big to maximize yield. Notably, staking is only available on Ethereum.
Even though it’s only in presale, $MGMES is a more timely and rewarding investment than Shiba Inu tokens like $SHIB and $DOGE.
Follow The Meme Games on and .
Visit the official website.
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coindesk:2153bea6b094b:0 | BTCUSDT | Bitcoin Slips Back to $58K in Continued Desultory Action, but Next Week Could Offer Upside Excitement | coindesk | https://www.coindesk.com/ | 2024-08-30T15:54:46+00:00 | https://www.tradingview.com/news/coindesk:2153bea6b094b:0-bitcoin-slips-back-to-58k-in-continued-desultory-action-but-next-week-could-offer-upside-excitement/ | null | [{'symbol': 'BITMEX:XBTETH.P', 'logoid': 'country/US', 'base_logoid': 'crypto/XTVCBTC'}] | /news/coindesk:2153bea6b094b:0-bitcoin-slips-back-to-58k-in-continued-desultory-action-but-next-week-could-offer-upside-excitement/ | EN | In what's become a pattern over the past couple of weeks, bitcoin {{BTC}} is again trending lower during U.S. trading hours, the price sliding back to $58,000 just before noon on the east coast.Currently at $58,200, bitcoin is down just shy of 4.4% over the past 24 hours, outperforming the broader… | In what's become a pattern over the past couple of weeks, bitcoin {{BTC}} is again trending lower during U.S. trading hours, the price sliding back to $58,000 just before noon on the east coast.
Currently at $58,200, bitcoin is down just shy of 4.4% over the past 24 hours, outperforming the broader market gauge CoinDesk 20 Index's 5.6% decline. Ether {{ETH}}, Chainlink (LINK) and Cardana {{ADA}} are among the index constituents dropping more than bitcoin. Having the worst session is Solana {{SOL}} with a 9% decline.
A bit more than 24 hours from the close of August, bitcoin has tumbled more than 12% for the month, more than reversing what had been a strong July. Ether is now lower by 25% for August, narrowing its year-to-date gain to just 7%. Solana is also off 25% for August and posting a 31% year-to-date advance.
Buy Asia, sell the U.S.
Those thinking there's a familiarity to this lame price action are not imagining things. "Asia bids, America dumps," wrote Miles Deutscher earlier on Friday. The cumulative return for bitcoin during Asia trading hours over the past two weeks has been more than 5%, according to Deutscher, while the crypto has posted a negative return during U.S. hours.
"Like clockwork," he added minutes ago as bitcoin once again sold off in the U.S. morning.
Change in trend ahead?
The positive catalysts of growing institutional adoption, a possibly friendlier regulatory environment, and coming Federal Reserve rate cuts have done little for the bitcoin price, which is off more than 20% since hitting an all-time high near $73,500 more than five months ago.
Bulls at this point might have a hard time imagining if there's anything at all that might shake up the poor action. It could get exciting when the U.S. returns from the Labor Day holiday next week, however, as a new wave of economic reports might alter the macro picture.
Headlining the data next week will be the Friday Sept. 6 Nonfarm Payrolls Report for August. The July jobs report was a weak one and likely was the final straw forcing the Fed's hand in promising a September rate cut. Currently, however, market expectations are for only a meek 25 basis point cut in mid-September. A second consecutive weak jobs print, though, might have investors quickly pricing in a 50 basis point move by the central bank, delivering a strong positive jolt to risk markets, bitcoin among them.
The flip side, of course, would be a strong September employment report and the subsequent tempering of the market's outlook for easier monetary policy. Whatever happens, volatility likely lies ahead, and there's probably about a 50% chance it's to the upside. At this point, the bulls would happily take those odds.
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forexlive:9a59e3502094b:0 | USDJPY | Choppy trading in the countdown to month end | forexlive | https://www.forexlive.com/ | 2024-08-30T15:20:19+00:00 | https://www.tradingview.com/news/forexlive:9a59e3502094b:0-choppy-trading-in-the-countdown-to-month-end/ | null | [{'symbol': 'FX_IDC:USDCAD', 'logoid': 'country/CA', 'base_logoid': 'country/US'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}] | /news/forexlive:9a59e3502094b:0-choppy-trading-in-the-countdown-to-month-end/ | EN | We saw some US dollar demand into the London fix all week and that was a preview of today's flows, as the dollar accelerated into the final fix of the month.USD/JPY touched a session high up 76 pips to 145.74, while the Australian dollar also fell to a session low at 0.6775. The euro and pound are… | We saw some US dollar demand into the London fix all week and that was a preview of today's flows, as the dollar accelerated into the final fix of the month.
USD/JPY touched a session high up 76 pips to 145.74, while the Australian dollar also fell to a session low at 0.6775. The euro and pound are slightly above the earlier lows.
It's tough to make sense of market moves at month end as flows top fundamentals. Looking ahead, September seasonals are poor for risk trades but that doesn't always transfer into the types of moves you would expect in FX. Instead, looks for a healthy dose of fundamentals to dominate, including non-farm payrolls next week and rate decisions from all the majors, starting with the Bank of Canada on Wednesday.
The loonie is particularly volatile today after a decent GDP report. Note that it's a holiday in the US and Canada on Monday so the flows in USD and CAD are particularly strong today.
USDCAD 10 mins
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tag:reuters.com,2024:newsml_L1N3KH0I7:0 | USDJPY | Stocks set to end turbulent month higher as U.S. data sets stage for rate cut | reuters | https://www.tradingview.com/news/providers/reuters/ | 2024-08-30T14:54:31+00:00 | https://www.tradingview.com/news/reuters.com,2024:newsml_L1N3KH0I7:0-stocks-set-to-end-turbulent-month-higher-as-u-s-data-sets-stage-for-rate-cut/ | Copyright Thomson Reuters 2024. Click For Restrictions - https://agency.reuters.com/en/copyright.html | [{'symbol': 'DJ:DJI', 'base_logoid': 'indices/dow-30'}, {'symbol': 'SP:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'TVC:IXIC', 'base_logoid': 'indices/nasdaq-composite'}, {'symbol': 'TVC:SXXP', 'base_logoid': 'indices/stoxx-600'}, {'symbol': 'TVC:US10Y', 'base_logoid': 'country/US'}, {'symbol': 'TVC:DXY', 'base_logoid': 'indices/u-s-dollar-index'}, {'symbol': 'FX_IDC:USDJPY', 'logoid': 'country/JP', 'base_logoid': 'country/US'}, {'symbol': 'FX:EURUSD', 'logoid': 'country/US', 'base_logoid': 'country/EU'}, {'symbol': 'TVC:NI225', 'base_logoid': 'indices/nikkei-225'}, {'symbol': 'ICEEUR:BRN1!', 'base_logoid': 'crude-oil'}, {'symbol': 'NYMEX:CL1!', 'base_logoid': 'crude-oil'}, {'symbol': 'TVC:GOLD', 'base_logoid': 'metal/gold'}] | /news/reuters.com,2024:newsml_L1N3KH0I7:0-stocks-set-to-end-turbulent-month-higher-as-u-s-data-sets-stage-for-rate-cut/ | EN | Global stocks rose on Friday, on track for the fourth consecutive month of gains despite a bout of heavy selling in early August, buoyed by U.S. economic data that has helped the dollar snap a weeks-long losing streak. The U.S. personal consumption expenditures (PCE) price index - which is the Fe… | Global stocks rose on Friday, on track for the fourth consecutive month of gains despite a bout of heavy selling in early August, buoyed by U.S. economic data that has helped the dollar snap a weeks-long losing streak.
The U.S. personal consumption expenditures (PCE) price index - which is the Federal Reserve's preferred inflation measure - rose 0.2% in July, according to Commerce Department data released on Friday.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.5% last month, the report showed. The data sets the stage for the Fed to likely begin easing monetary policy from September.
Wall Street's main indexes were trading higher following the data.
The Dow Jones Industrial Average DJ:DJI rose 0.16% to 41,402.02, the S&P 500 SP:SPX gained 0.58% to 5,624.22 and the Nasdaq Composite TVC:IXIC gained 0.91% to 17,675.08.
Europe's Stoxx index TVC:SXXP was up 0.21% after touching a record intraday high in the early session and Britain's FTSE 100 CURRENCYCOM:UK100 was up 1.7% after rising to a three-month peak. MSCI's world share index EURONEXT:IACWI ticked 0.53% higher, heading for a 2.16% monthly gain.
The stunning recovery from an early August sell-off reminiscent of October 1987's "Black Monday" came as traders priced a so-called Goldilocks scenario, in which the U.S. economy keeps growing but not so much to prevent interest rate cuts.
Money markets are confidently pricing the Fed's first 25 basis point cut of this cycle at its September meeting, with a 33% chance of a jumbo 50 bp reduction.
The U.S. economy grew faster than initially thought in the second quarter of this year because of strong consumer spending, and corporate profits, a report on Thursday showed.
Pictet Asset Management co-head of multi-asset Shaniel Ramjee warned, however, that the current pattern of stocks and bonds rallying in tandem was unlikely to hold.
"We're seeing a bond market that is pricing in a lot of accommodation and an equity market that is reasonably supported by growth," he said.
Government bond markets soared in early August after a weaker-than-expected U.S. jobs report and a surprise Bank of Japan rate hike wreaked chaos in currency carry trades and drove heavy selling of risky assets.
The yield on benchmark U.S. 10-year notes TVC:US10Y rose 0.4 basis points to 3.871%. The 2-year note (US2YT=RR) yield, which typically moves in step with interest rate expectations, rose 2.8 basis points to 3.9206%.
EURO FLAT
The dollar TVC:DXY steadied near a one-week high versus major peers on Friday, on track to snap a five-week losing streak although still heading for around a 2.5% monthly loss.
Against the yen FX_IDC:USDJPY, the dollar stood at 145.37, on track to lose more than 3% for the month, as pressure eased on the Japanese currency on the prospect of narrowing interest rate differentials.
Core inflation in Japan's capital Tokyo accelerated for a fourth straight month in August, data showed on Friday, with the 2.4% price increase signalling further BoJ rate hikes ahead.
The euro FX:EURUSD was flat at $1.107, having declined on Thursday after softer-than-expected German inflation data increased bets on further European Central Bank rate cuts.
Elsewhere in markets, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.58%, set for a 2.14% monthly increase. Japan's Nikkei TVC:NI225, following its early month collapse, lost 1.16% for the month but rose 0.74% on Friday.
Oil prices fell. Brent crude futures for October delivery ICEEUR:BRN1! dropped 1.41% at $78.81 a barrel, while U.S. crude NYMEX:CL1! lost 2.65% to $73.9 a barrel.
Gold prices weakened although set for a 2.8% monthly gain. Spot gold TVC:GOLD lost 0.2% to $2,515.89 an ounce. U.S. gold futures (GCc1) fell 0.39% to $2,515.80 an ounce.
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DJN_SN20240830009052:0 | SPX | This approach to dividend stocks can diversify your S&P 500 index-fund exposure | market-watch | https://www.tradingview.com/news/providers/market-watch/ | 2024-08-30T14:33:00+00:00 | https://www.tradingview.com/news/DJN_SN20240830009052:0/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'AMEX:SPY', 'base_logoid': 'spdr-sandp500-etf-tr'}, {'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}, {'symbol': 'NYSE:SPG', 'base_logoid': 'simon-property'}, {'symbol': 'NASDAQ:QQQ', 'base_logoid': 'invesco'}, {'symbol': 'AMEX:SPHD', 'base_logoid': 'invesco'}, {'symbol': 'NASDAQ:NVDA', 'base_logoid': 'nvidia'}, {'symbol': 'AMEX:VOO', 'base_logoid': 'vanguard'}] | /news/DJN_SN20240830009052:0/ | EN | By Philip van DoornThree stocks make up 20% of your S&P 500 index fundIf you have been pleased with the performance of your investment portfolio over the last decade, chances are you have at least some of your money in an S&P 500 index fund. This has enabled you to ride along with some amazing Big… | By Philip van Doorn
Three stocks make up 20% of your S&P 500 index fund
If you have been pleased with the performance of your investment portfolio over the last decade, chances are you have at least some of your money in an S&P 500 index fund. This has enabled you to ride along with some amazing Big Tech performers while keeping expenses low.
But it might surprise you that index funds such as the $562 billion SPDR S&P 500 Index ETF Trust SPY (the first exchange-traded fund to track the U.S. large-cap benchmark index) or the $248 billion Vanguard S&P 500 ETF VOO have portfolios that are concentrated more than 19.5% to three companies: Microsoft Corp. (MSFT), Apple Inc. (AAPL) and Nvidia Corp. (NVDA).
Both SPY and VOO hold shares of all 500 companies in the S&P 500 SPX. The index itself is weighted by market capitalization, and this rewards success - all three of the stocks at the top of the weighting have been strong performers over the long term. Nvidia has soared 419% over the past three years with dividends reinvested. It now makes up 6.15% of the SPY portfolio, while it made up only 1.37% of the portfolio as of June 30, 2021, according to the fund's schedule of investments for that quarter.
For a benchmark index, the S&P 500 has become "more growthy" over recent years, according to Nick Kalivas, who heads Invesco's factor strategy for the firm's exchange-traded funds.
It is common for professional investors place stocks into growth and value camps. Growth stocks tend to be those of companies increasing their sales rapidly, with stocks trading at relatively high multiples to earnings, revenue or book value. Companies in the value camp are slower growers that tend to trade at lower multiples and are more likely to pay significant dividends to common shareholders.
One commonly cited growth benchmark is the Nasdaq 100 Index NDX, which is made up of the 100 largest companies in the full Nasdaq Composite Index. The Nasdaq 100 Index is cap-weighted and tracked by the Invesco QQQ Trust QQQ. Kalivas told MarketWatch that "the overlap between the Nasdaq 100 and the S&P 500 has moved to over 45%, from 20% 10 years ago."
During periods of declining interest rates, value stocks can benefit because of a decline in borrowing costs. This might help explain the "rotation to value" strategies that have been widely covered in the financial media this summer, amid anticipation of a cycle of cuts to the target range for the federal-funds rate. On Aug. 23, Federal Reserve Chair Jerome Powell said the time had come for lower interest rates.
There are various value-oriented index approaches you can consider if you are concerned with the concentration of the S&P 500. One approach that begins with the same benchmark is followed by the Invesco S&P 500 High Dividend Low Volatility ETF SPHD. This fund has $3.7 billion in assets and has had a net inflow of $480 million from investors since mid-July, according to Kalivas.
SPHD tracks an index of 50 stocks that is maintained by S&P Dow Jones Indices and reconstituted twice a year, on the last business days of January and July. First, the index provider identifies the 75 stocks in the S&P 500 with the highest dividend yields over the previous 12 months. This list is then cut to the 50 showing the lowest levels of price volatility during the same period. Those 50 stocks are weighted by their trailing 12-month dividend yields for the updated portfolio.
"The low-volatility screen is used with the expectation of eliminating a dividend trap," Kalivas said. A stock with a high dividend yield might have a built-in warning to investors: The high yield might reflect a low share price because a problem with the business has led some investors to avoid the stock.
"The idea is if a dividend payer has a lot of volatility, there is uncertainty for its cash flow" and its ability to maintain the dividend payout, Kalivas said.
"As a byproduct of the methodology, it gives you some exposure to value," he added.
The Invesco S&P 500 High Dividend Low Volatility ETF makes dividend distributions monthly. It quotes an SEC 30-day yield of 4.16%. The past 12 monthly distributions have totaled $1.956 a share, for a trailing distribution yield of 3.98%. If that yield doesn't seem attractive, keep in mind that bank CD rates can fall quickly once the Fed begins to cut short-term interest rates.
Here are the 10 largest holdings of SPHD:
Company Ticker Dividend yield % of SPHD portfolio as of Aug. 28
Altria Group Inc. MO 7.65% 3.04%
Crown Castle Inc. CCI 5.61% 2.83%
Verizon Communications Inc. VZ 6.45% 2.76%
VICI Properties Inc. VICI 5.02% 2.61%
Bristol-Myers Squibb Co. BMY 4.83% 2.54%
AT&T Inc. T 5.62% 2.47%
Dominion Energy Inc. D 4.76% 2.41%
Realty Income Corp. O 5.14% 2.38%
Kinder Morgan Inc. Class P KMI 5.37% 2.38%
Simon Property Group Inc. SPG 4.95% 2.34%
Sources: Invesco, FactSet Click on the tickers for more about any index, ETF or stock.
Click here for Tomi Kilgore's guide to the wealth of information available for free on the MarketWatch quote page.
An income idea: You can lock in attractive municipal bond yields before the Fed makes its move
Don't miss: These offshore oil drillers look like bargain stocks as the industry recovers
-Philip van Doorn
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
| indices | null | null | null |
DJN_DN20240830005822:0 | SPX | Intel Up Over 7%, Best Performer In The DJIA and S&P 500 So Far Today — Data Talk | dow-jones | https://www.tradingview.com/news/providers/dow-jones/ | 2024-08-30T14:29:00+00:00 | https://www.tradingview.com/news/DJN_DN20240830005822:0-intel-up-over-7-best-performer-in-the-djia-and-s-p-500-so-far-today-data-talk/ | 2024 Dow Jones & Company, Inc. All rights reserved. | [{'symbol': 'NASDAQ:INTC', 'base_logoid': 'intel'}, {'symbol': 'CBOE:SPX', 'base_logoid': 'indices/s-and-p-500'}] | /news/DJN_DN20240830005822:0-intel-up-over-7-best-performer-in-the-djia-and-s-p-500-so-far-today-data-talk/ | EN | Intel Corporation (INTC) is currently at $21.64, up $1.52 or 7.53%All data as of 10:07:19 AM ETSource: Dow Jones Market Data, FactSet | Intel Corporation (INTC) is currently at $21.64, up $1.52 or 7.53%
Would be highest close since Aug. 1, 2024, when it closed at $29.05On pace for largest percent increase since Aug. 8, 2024, when it rose 7.9%Currently up two consecutive days; up 10.38% over this periodBest two day stretch since the two days ending Nov. 11, 2022, when it rose 10.57%Down 29.59% month-to-date; on pace for worst month since April 2024, when it fell 31.02%Down 56.93% year-to-dateDown 71.09% from its all-time closing high of $74.88 on Aug. 31, 2000Down 40.88% from 52 weeks ago (Sept. 1, 2023), when it closed at $36.61Down 57.36% from its 52-week closing high of $50.76 on Dec. 27, 2023Up 13.98% from its 52-week closing low of $18.99 on Aug. 7, 2024Traded as high as $21.83; highest intraday level since Aug. 19, 2024, when it hit $21.86Up 8.45% at today's intraday high; largest intraday percent increase since Oct. 27, 2023, when it rose as much as 11.87%Best performer in the DJIA todayBest performer in the S&P 500 todaySecond most active stock in the S&P 500 todaySecond best performer in the Nasdaq 100 todaySecond most active stock in the Nasdaq 100 todayContributed 9.99 points to the DJIA so far todayAll data as of 10:07:19 AM ET
Source: Dow Jones Market Data, FactSet
| indices | null | null | null |
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