US stock futures indicate a challenging day ahead as the House voted against a Trump-backed spending bill, raising the likelihood of a government shutdown. Key inflation data is anticipated, with futures for the S&P 500 down 1% and Nasdaq futures plunging 1.6%. Major stocks, including Nvidia and Tesla, faced significant declines amid global market pressures and disappointing earnings reports.
Sui Network, a layer-1 blockchain launched in May 2023, has gained traction in the cryptocurrency market, achieving a peak price of nearly $5. Analysts predict significant growth, with forecasts suggesting it could reach $25 by year-end, driven by its high transaction speed and new features like cross-chain USDC transfer protocols. The increasing user base and positive expert predictions highlight Sui's potential to outperform competitors in the blockchain space.
Following the collapse of Credit Suisse, various political parties are calling for a stronger role for the Swiss Financial Market Supervisory Authority (FINMA). Criticism has been directed at FINMA for its failure to prevent the disaster, with suggestions for enhanced supervisory powers and stricter regulations for major banks. The Greens and Socialists advocate for tougher rules, including a ban on bonuses for executives of systemically important banks, emphasizing the need for improved financial oversight.
U.S. stock index futures fell sharply amid fears of a government shutdown and shifting interest rate expectations, as Congress struggles with President Trump's spending bill. The Federal Reserve has raised its inflation forecast for 2025, contributing to market volatility.In Russia, the central bank maintained its key interest rate at 21%, surprising markets that expected a hike. This decision aims to combat inflation, currently at 9.5%, while facing criticism from business leaders who argue that high rates hinder investment in a strained economy.
The PUK report attributes the downfall of Credit Suisse primarily to management missteps, while highlighting the leniency of politicians and authorities towards the banking lobby. It criticizes the "too big to fail" regulation as inadequate during crises and calls for urgent reforms to prevent future failures, especially with UBS's increased risk.
UBS shares fell by 2.0% to CHF 26.34 in afternoon trading, making it one of the SMI's biggest losers. The stock reached a 52-week high of CHF 29.57 on October 30, 2024, and has a dividend forecast of USD 0.819 for the current year, up from CHF 0.640 last year. UBS is set to release its Q4 2024 results on February 4, 2025, with analysts predicting earnings per share of USD 1.75 for 2024.
A parliamentary investigation has concluded that Credit Suisse is primarily to blame for its collapse in spring 2023, citing a loss of 33.7 billion francs over twelve years while paying out 39.8 billion francs in performance bonuses. The report criticized the Financial Market Authority for ineffective supervision and called for clearer regulations for systemically important banks. Following its difficulties, Credit Suisse was sold to UBS in an emergency sale, averting fears of a global financial crisis.
Anne Maillard has been appointed as the new Head of Retail Banking at Vaud Cantonal Bank (BCV), effective July 1, 2025. She will succeed José F. Sierdo, who is retiring after serving since 2014. Maillard, currently a member of the Executive Board at Fribourg Cantonal Bank, brings extensive retail banking experience.
Dogecoin's price is under pressure following a $59 million transfer to Binance by a whale, raising concerns of a potential drop to the critical support level of $0.20. Analysts suggest that market corrections and external economic factors could exacerbate this decline, although a bullish turnaround is still anticipated in early 2025, reminiscent of past recovery trends.
Whale activity and reduced exchange reserves indicate bullish sentiment for Chainlink (LINK), currently priced at $24.63 after a 9.11% drop. The asset faces resistance at $24-$25, with potential for a breakout towards $30.99 if it maintains upward momentum; otherwise, it may retest the $22 support zone.
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