Significant rise in U.S. steel and cryptocurrency-related stocks, Bank of Japan monetary policy decision today
12/19 (Tuesday) morning market trends (compared to the previous day)
traditional finance
New York Dow: 37,306 +0.002%
NASDAQ: 14,904 +0.6%
Nikkei average: 32,758 +0.6%
USD/JPY: 142.7 +0.3%
Gold Futures: 2,041 +0.2%
NVIDIA: $500.7 +2.4%
US Steel: $49.5 +26%
The NY Dow was flat today but continued to rise and hit new highs. Last night, Nippon Steel’s agreement to acquire US steel giant US Steel for about $15 billion was well-received and its stock price rose significantly. The NY Dow appears to have received support from US Steel and other M&A news. Also, it is noteworthy that semiconductor giant Nvidia has returned to the $500 range.
Currently, the market is still expecting an interest rate cut scenario (three or more times) next year, and is continuing a steady trend without paying much attention to the restraining opinions of some FOMC members.
Connection: The US Nasdaq 100 index reached a new high. Two Federal Reserve governors kept interest rate cut expectations in check.
On the same day, Chicago Fed President Goolsbee said in an interview with CNBC that the U.S. Federal Reserve should not act based on how the stock market will react to curb stock market expectations, following last week’s hawkish New York Fed President Williams. interest rate reduction. He said: In addition, Fed President Mester Cleveland and San Francisco Fed President Daley each said in an interview that day that it is premature to expect an interest rate cut in the first half of next year.
Connection: FOMC proposes dovish shift. U.S. stocks and Bitcoin rise across the board amid predictions of multiple interest rate cuts next year
The U.S. stock market will be closed next Monday, the 25th, for Christmas.
Today’s key market data includes:
There is little trading in U.S. bond futures and yields rise slightly.
The dollar-yen rise is expected to maintain negative interest rates as is. Expectations are high that there will be no change in policy.
Bitcoin rises as oil prices rebound, geopolitical risks after Red Sea ship attack
Connection: VanEck predicts capital inflows upon approval of a Bitcoin spot ETF, taking into account the gold ETF case and economic environment.
Connection: “Bitcoin will reach $80,000 in 2024” Bitwise makes optimistic predictions for the cryptocurrency market.
Major economic indicators/events from this week onwards
Bank of Japan monetary policy decision policy interest rate announcement on the morning of 12/19 (Tuesday)
12/19 (Tuesday) 15:30 Bank of Japan Governor Kazuo Ueda regular press conference
12/20 (Tuesday) People’s Bank of China loan preferential interest rate (loan interest rate index) announcement
12/21 (Thursday) 22:30 U.S. quarterly real gross domestic product (GDP, final value)
12/22 (Fri) 22:30 US personal consumption expenditures for November (PCE deflator)
Connect: Learn about Bitcoin ETFs from scratch: The pros and cons of investing and how to buy US stocks explained
Cryptocurrency-related stocks rebound
Coinbase｜$153.4 (+3.7%)
MicroStrategy│MicroStrategy Dollar (+0.2%)
Marathon | $19.8 (+8.6%)
Connection: Bitcoin has recorded its first weekly negative line in 9 weeks. What is the expected price drop if it falls to the $30,000 level?
Cryptocurrency market rebounds
Bitcoin: $42,652 +2.6%
Ethereum: $2,220 +0.5%
Connection: “Ethereum is expected to surpass Bitcoin’s growth rate” JP Morgan forecast for next year
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