The Bank of Japan holds rates, closing a week in which every dissenting vote called for a rate hike
In brief The Bank of Japan kept its policy rate at 1.25% in an 8–1 vote A minority vote wanted interest rates to reach the neutral level sooner The Fed held interest rates this week, while the Bank of Canada raised rates
Fidelity’s Timmer warns that rising interest rates could hurt stocks if earnings fail to keep pace
In brief Fidelity’s Jurrien Timmer points out that rising interest rates could hurt stocks if earnings fail to keep pace. He said the market has not yet entered bubble territory, while profit margins and spreads remain intact. U.S. junk-bond spreads widened by around 70 basis points from their recent lows before narrowing.
Amazon shares fell after the market closed, dropping below Wall Street’s lowest price target
In brief Amazon shares fell 7.3% after the market closed, dropping below Wall Street’s lowest price target Trailing 12-month free cash flow was negative USD 42.4 billion due to AI spending Analysts’ average price target of USD 332.26 is about 47% above the current share price
Bitcoin is getting boring, but here are the bullish factors according to market analyst James Check
In brief James Check says Bitcoin becoming a mainstream asset is the main reason the bull case is strongest Glassnode data suggests that one-month realized volatility is at 25.2%, near summer 2023 levels JPMorgan linked Bitcoin allocation to lower volatility. Has this condition been met yet?
Why are all crypto prices plunging except Hyperliquid?
In brief Hyperliquid surges as crypto traders lose USD1.49 billion to liquidations Binance suspends withdrawals after billions of USD leave its hot wallets, sparking market turmoil ICE, Druckenmiller, and Musk weigh in, but US approval is still pending
Amazon's AWS backlog, worth USD 578 billion, is growing faster than revenue
In brief Amazon's AWS backlog reaches USD 578 billion, growing by triple digits as sales surge 39.3% AWS adds USD 3.8 billion in sales per quarter after adding USD 4.6 billion earlier Can Amazon turn orders into revenue before cost pressures rise?
Polymarket and Kalshi face a new rival as DraftKings CEO sees an excellent growth opportunity
In brief DraftKings CEO Jason Robins says the prediction market opportunity is excellent Robins says customer overlap with Kalshi is only about 3% in states with sports betting Can a Nasdaq-listed sports betting company reach more customers in the U.S. than crypto-based Polymarket?
KOSPI Plunges More Than Nikkei as Investors Worry AI Earnings Will Pressure Chip Stocks
In Brief KOSPI fell 4.77% on Friday after South Korea’s chip giant was hit by the impact of AI earnings. Japan’s Nikkei 225 fell 2.81%, while Taiwan’s TAIEX fell 2.80%. Seoul halted program selling for 5 minutes, the first time in 11 sessions. Read the original story: KOSPI Plunges More Than Nikkei as Investors Worry AI Earnings Will Pressure Chip Stocks, by Kamina Bashir at th.beincrypto.com
Schwab says AI has moved beyond experimentation. Will the U.S. see a dot-com-style boom?
In brief Schwab reveals that U.S. advisors’ use of AI is moving from experimentation to real-world use Schwab offers a $4,800 credit to companies that choose Claude’s enterprise plan Schwab’s 1996 launch of online trading was both an example and a warning
Cramer recommends buying Microsoft, sees Alphabet as carrying too much weight
In brief Jim Cramer recommends buying Microsoft, says Alphabet has serious problems Alphabet's free cash flow has been negative for two consecutive quarters Can Amazon's record-high gross profit offset its earnings miss? Read the original story: Cramer recommends buying Microsoft, sees Alphabet as carrying too much weight, by Darryn Pollock at th.beincrypto.com
Bitcoin Bulls Hit Hardest on $1.49 Billion Crypto Liquidation Day
In brief Crypto liquidations hit 1.49 billion USD in 24 hours, led by Bitcoin longs Bitcoin drops 4.67% in 24 hours to 77,111 USD as Binance investigates suspected hack One major token surged, causing short sellers to suffer losses Read the original story: Bitcoin Bulls Hit Hardest on $1.49 Billion Crypto Liquidation Day, by Kamina Bashir at th.beincrypto.com
Musk and Wall Street billionaires are interested in a market that Bitwise says 99.9% of Americans have never heard of
In brief Musk, Druckenmiller and Bitwise’s Hougan each weigh in on the Hyperliquid deal ICE, the owner of the New York Stock Exchange, plans to launch a regulated 24/7 Hyperliquid market in the US Two-thirds have already invested in the HYPE token
Bitcoin leads the S&P 500, but why is USD 85,000 still out of reach?
In brief Bitcoin outperformed the S&P 500 for several days after winning just one in five trading days in June BTC's price has closed above the USD 84,000–85,000 range on only five days since January, according to on-chain analytics firm Glassnode Weak consumer confidence, a stagnant leading economic index, and a narrowing memecoin market are weighing on Bitcoin's short-term price outlook
MicroStrategy reports operating income of USD 21 billion on Bitcoin gains, but BTC per share falls
In brief Strategy posts record operating income of USD 21 billion, but Bitcoin per share falls 3.7% Strategy sells USD 431.8 million worth of Bitcoin to raise funds for dividend payments and STRC share buybacks Shares closed down 2.4% at USD 141.62 and traded below the value of its Bitcoin holdings
Read the original story: Binance hack loses USD 2 billion, Circle and Tether freeze transactions, crypto market adjusts, by Mohammad Shahid at th.beincrypto.com
Crypto liquidations hit USD628 million in 1 hour as Binance hack fears drag Bitcoin lower
In brief Crypto liquidations reached USD 627.7 million in one hour, with 97% of them being long positions Bitcoin fell about 3% and ETH more than 4% in one hour after funds flowed out of Binance Binance is investigating, while CZ says the transfer appears to have been hacked Read the original story: Crypto liquidations hit USD628 million in 1 hour as Binance hack fears drag Bitcoin lower, by Lockridge Okoth at th.beincrypto.com
Is Binance being hacked? A USD 2 billion outflow raises questions about customer funds
In brief Ethereum and tokens worth over USD 2 billion were withdrawn from Binance wallets to a new address. The wallet responsible for this movement was funded solely by Tornado Cash, a coin mixer. Binance has not specified whether this was maintenance or a theft of customer funds.
Coinbase beats earnings expectations as executives prepare to sell USD2 billion worth of shares — why now?
In brief Coinbase posts USD718.7 million profit in Q3 as analysts expected a loss USD715 million in crypto gains helped drive profits, not trading Armstrong, Ehrsam, and Choi file plans to sell up to 13.6 million shares Read the original story: Coinbase beats earnings expectations as executives prepare to sell USD2 billion worth of shares — why now? By Lockridge Okoth at th.beincrypto.com
Polymarket halts trading after users report losing USD 1.4 million
In brief Polymarket halted new trades after users reported USD 1.4 million drained A trader revealed that they lost USD 800,000 and all the positions they held In June, Polymarket pledged full refunds after the website was hit by a USD 3 million attack
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