1/24 (Tue) morning market trends (compared to the previous day)
traditional finance
NY Dow: $33,546 +0.5%
Nasdaq: $11,323 +1.6%
Nikkei Average: ¥26,906 +1.3%
USD/JPY: 130.6 +0.95%
USD Index: 102 +0.05%
10-year US Treasury yield: 3.52 +1.17%
Gold Futures: $1,932 +0.2%
crypto assets
Bitcoin: $22,988 +1.8%
Ethereum: $1,634. +0.5%
Today’s New York Dow continued to rise from last weekend, rising about $171. The Nasdaq and yesterday’s Nikkei also rose significantly. Expectations for a recovery in the Chinese economy due to the U.S. Fed’s easing of interest rate hikes and the abolishment of the zero-corona policy appear to have supported the stock market.
From this week, IT and high-tech companies such as Microsoft (24th), Tesla (25th), Apple (2nd February), and Amazon (2nd February) will announce their financial results. The high-tech industry tends to reduce costs due to the effects of interest rate hikes and inflation. Last week, Google’s parent company, Alphabet, followed Amazon and Meta in announcing significant job cuts.
Microsoft also announced last week plans to lay off 10,000 people worldwide. On the other hand, the company will strengthen its investment in artificial intelligence, which is a strategic area of focus, and will invest $ 10 billion over the next few years in OpenAI, which developed the conversational AI model “ChatGPT” on the 23rd before the announcement of the financial results. Officially announced the plan. There is a background to investing in OpenAI in 2019 and 2021. An upgraded version of ChatGPT, GPT-4, is scheduled to be released this spring.
Relation : Soaring prices of AI-related tokens such as “AGIX”
For individual US stocks, Big Bear ai (AI related) -1%, Amazon -0.25%, Microsoft +0.8%, Alphabet C +1.2%, Apple +1.9%, Tesla +6.6%, Meta +2.4%, Coin Base +1.4%, Micro Strategy +4.2%.
Relation : Recommended for cryptocurrency investors, advantageous shareholder benefits “10 selections”
Important economic indicators/events from this week onwards
January 22-27: 7-day Lunar New Year holiday in China and Greater China
January 26: U.S. Real GDP (Quarter Annual Rate) (Preliminary Report)
January 28: University of Michigan Consumer Confidence Index (confirmed)
February 2: FOMC policy interest rate
February 3: U.S. Unemployment Rate, Nonfarm Payrolls
Relation : The current Bitcoin is on the rise in Asia time, the US stock correlation index is at the lowest level in a year
USD/JPY: 130.6 +0.95%
The dollar-yen exchange rate is 1 dollar = 130.6 yen, +0.95%. As previously announced yesterday, the Bank of Japan implemented a 5-year pooled collateral funding operation of 1 trillion yen, and the yield on newly issued 10-year government bonds fell to 0.375% against the maximum allowable limit of 0.50%, resulting in yen selling. Rising U.S. Treasury yields also appear to have led to dollar buybacks.
Source: Yahoo! Finance
Relation : The background of the “strong dollar” that affects the virtual currency market also explains the correlation and factors of the weak yen
Cryptocurrency/Blockchain-related Stocks (Year-on-Year Change/Year-to-Week Change)
Coinbase Global | $55.9 (+1.4%/+1.4%)
Algo Blockchain｜$1.9 (+12%/+12.1%)
Marathon Digital Holdings | $9 (+11%/+11.5%)
Micro Strategy | $250 ((+4.2%/+4.2%)
Monex Group | ¥487 (+2.5%/+2.5%)
Bitcoin mining company Argo Blockchain soared after meeting the conditions and relisting on the US Nasdaq. It avoided filing for bankruptcy by selling its Helios mining facility in Texas to Galaxy Digital last December.
Source: Tradingview
Relation : The financial difficulties of cryptocurrency mining companies continue UK-listed Argo mentions the possibility of business termination
Relation : Recommended for cryptocurrency investors, advantageous shareholder benefits “10 selections”
GM Radio 2023 first episode this week
As a special guest this time, we invited Anthony Rose, head of engineering at Matter Labs. The company is developing Ethereum (ETH) L2 solution “zkSync”. Matter Labs is developing a technology to improve the scalability of Ethereum by utilizing cryptographic technology called zero-knowledge proof, and it is currently attracting a lot of attention.
Relation : This year’s first GM Radio will be held, guests will be Ethereum L2 “zkSync” development company executives
It will be distributed on the Twitter space of @CoinPost_Global from 12:30 to 13:00 on Thursday, January 26, Japan time.
This year’s first “GM Radio” will be held! Guests are executives of Ethereum L2 “zkSync” development company https://t.co/Wqyrx8PcGy
— CoinPost-virtual currency information site-[app delivery](@coin_post) January 19, 2023
Click here to watch the archive of the previous episode, including Yat Siu, chairman of Animoka Brands.
Reminder: Our 2nd #GMRadio starts in 30 min (24:00 UTC / 19:00 EST / 9:00 JST)
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