MARKET UPDATE 15% 2-month rally based on:
Month-to-date
- S&P 500 +2.4%
- Nasdaq +2.5%
- TSX +2.1%
10yr 3%
Jackson Hole: Thursday and Friday
- Powell speaks at 10 a.m. on Friday
- 10 year yield has moved up from 2.5% to 3% in a month
- Higher yield helping support a strong U.S. dollar
Crude 90
- China cut interest rates and announced $29.3B in special loans to developers
- Iran nuclear deal negotiations continue
Amazon (NASDAQ: NASDAQ:AMZN), (NYSE: UNH), (NYSE: CVS)
- WSJ reporting that in an auction, AMZN among the bidders for Signify Health (NYSE: SGFY)
- Signify (market cap $5B) is up 26% in pre-market
- Signify is a home-health services provider
- CVS Health and UNH also bidding
Tesla (NASDAQ: TSLA (NASDAQ:TSLA))
- Stock split Wednesday
- Telsa price for new version of their full self-driving option rising to $15,000 from $12,000 in September
Earnings
- (NASDAQ: PANW) Palo Alto (NASDAQ:PANW)
- (NASDAQ: ZM) Zoom
CRYPTO UPDATE Stablecoin clues from Morgan Stanley (NYSE: NYSE:MS):
- Stablecoin availability = sign of liquidity & demand for crypto leverage
- “This week marked the first time since April that stablecoin market capitalization has stopped falling on a monthly basis”
- Margin calls have paused
- Re-leverage demand still hasn’t picked up though
- Watch: Growth of stablecoin market cap = potential growth of crypto leverage
Source: TheDailyShot
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