The broader market took a breather after 3-day gains as investors waited for Friday’s inflation dataUpdated time: 25 Jan, 2022, 13:43 (UTC+04:00)
The broader market took a breather after 3-day gains as investors waited for Friday’s inflation data. Economists said November’s CPI index could jump by 6.8%, led by higher and longer than expected rising rents and considered to be the biggest surge in more than 30 years. If this happens, the Fed is forced to act more aggressively in fastening the monetary policy tightening and bond purchasing taper.
On the positive side, jobless claims decreased to 184,000 and is considered the lowest in nearly half of a century.
S&P 500 dropped 0.71%, Nasdaq eased 1.7% while Dow Jones steadied.
Energy affected by the 2% fall in oil prices due to Europe’s travel restrictions.
Tech dropped as semiconductor stocks dropped.
The only green sector was #Healthcare underpinned by health-care services expansion.
Crypto: Bitcoin struggled to last trade at $48,100 and left investors overwhelmed.
Ethereum, on the contrary, has seriously outperformed for months with ETH/BTC rallying more than 230% this year and hitting a new high at 0.089 BTC today. More surprisingly, ETH’s $490 billion market cap already represented 54% of the BTC’s.
Meme-inspired $SHIB became the 1st token to be added to the Avalanche – Ethereum Bridge. Search for Avalanche has exploded in 2021 so this event is a boom for the crypto industry.
Polygon – ETH’s scaling solution said it would dedicate 250 million MATIC tokens.
The NPT market skyrocketed to $27 billion within the first 10 months in 2021 due to wide acceptance by big brands, investors and digital artists.
Firmed: the dollar and safe haven yen.
Recovered: the aussie.
Volatile: the yuan, sterling and NZD.