12/2 (Saturday) morning market trends (compared to the previous day)

Traditional finance US stocks continue to grow

• NY Dow: 36,245 +0.8%
• Nasdaq: 14,305 +0.5%
• Nikkei average: 33,431 -0.17%
• USD/JPY: 146.7 -0.9%
• Gold futures: 2,073 +1.7%
• NVIDIA: $467.6 -0.011%
• Tesla: $238.8 -0.5%

Today’s NY Dow continued to rise by $294.6, and the bond market rebounded. On that day, Federal Reserve Chairman Jerome Powell’s comments suggested a tone-down, and speculation that the Fed would move to lower interest rates in 2024 has become more widespread.

In a late-night speech on the 1st, Japan time, the chairman said, “We will maintain the current monetary policy until we are confident that inflation is moving towards our 2% price target.” It is too early to speculate on when we will shift to monetary easing. “We are prepared to further tighten monetary policy if we deem it appropriate,” he said, putting a check on the market’s growing expectations for a rate cut. However, given the slowing inflation rate indicated by CPI and PCE and the slowing US economy, the benchmark inflation averaged 2.5% for the six months ending in October, moving closer to the 2% level. “Policy interest rates are in a fairly restrictive range,” he said.

This week, dovish comments from a supposedly hawkish Fed director increased expectations for a rate cut in the first half of 2024. In the CME interest rate futures market, over 40% predict that the policy interest rate will be lowered to 4.5-4.75% (currently 5.25-5.50%) by September next year.

The next FOMC interest rate announcement is scheduled for December 14th.

Today’s main market materials are as follows:.

• Chairman Powell’s restraining statements continue in NY; denial of expectations for rate cut is as expected
• Comprehensive manufacturing business index for November = contraction for 13 consecutive months
• U.S. bond yield sharply falls 10-year bond yield -2.76%
• The yen temporarily rose to 146.66 yen against the dollar, raising expectations for a narrowing of the Japan-U.S. interest rate differential
• Spot gold price = approaching the highest price level again

connection: NY Dow hits new high this year; October PCE suggests slowing inflation | 1-day Financial Tankan

Important employment data is expected to be released next week.

Important economic indicators/events from this week onwards

• 12/6 (Wednesday) 22:15 US November ADP employment statistics
• 12/8 (Friday) 22:15 U.S. November unemployment rate
• 12/12 (Tue) 22:30 U.S. November Consumer Price Index (CPI)
• 12/14 (Thu) 4:00 US FOMC policy rate announcement

connection: Mr. Kiyosaki, author of Rich Dad: “Invest in gold, silver, and Bitcoin before it’s too late.”

connection: Stock investment recommended for virtual currency investors, “10 representative virtual currency stocks in Japan and the United States”

connection:Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

Virtual currency related stocks significantly higher

• Coinbase｜$133.7 (+7.2%)
• MicroStrategy | $527.6 (+5.9%)
• Marathon | $13.7 (+14.4%)

Coinbase stock rose significantly from the previous day, rising +15.8% from the previous week.

Recent developments include last week’s settlement between Binance and the US Department of Justice and CZ’s resignation, and according to Kaido Research, Coinbase and Bybit have directly benefited from Binance’s diminished US presence in terms of market share. ing. The benefits are reflected in Coinbase’s stock price.

Virtual currency market BTC hits new high again

• Bitcoin: $38,742 +2.8%
• Ethereum: $2,093 +2.1%

Bitcoin (BTC) rose this week on expectations that Grayscale, BlackRock, and Invesco’s ongoing conversations with the SEC are providing support for the final approval of their pending Bitcoin ETF.

connection: Experts optimistic about approval as third company meets with SEC this week regarding Bitcoin ETF listing application

connection：Bitcoin returns to $38,000 level, setting new year-to-date high, reports continue regarding Bitcoin ETFs

connection: “Possibility of year-end rise in virtual currency market” Matrixport report

CoinPost Special feature for virtual currency beginners

CoinPost official app (1.7.15) has been released on iOS and Android
・iOS17 compatible
・Improved display of in-app WebView
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Such… pic.twitter.com/Y8dikLRBe7

— CoinPost (virtual currency media) (@coin_post) November 15, 2023

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