{ }
Symbol AMZN
Name Amazon.com, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Retailing
Industry Internet & Direct Marketing Retail
Market NASDAQ Global Select
Country United States
State WA
City Seattle
Zipcode 98109-5210
Website http://www.amazon.com
Asian shares rose as Wall Street's rally continued, buoyed by an inflation update that suggests potential Federal Reserve support for the economy. The Hang Seng surged 1.7%, while Tokyo's Nikkei 225 gained 1.3%, driven by technology stocks. In the U.S., the S&P 500 climbed 0.8%, with Tesla jumping 5.9% and Stitch Fix soaring 44.3% after better-than-expected earnings.
The stock market rally continues, with the Nasdaq surpassing 20,000 for the first time, driven by megacap stocks like Tesla, Google, and Amazon reaching new highs. Despite a slight dip in Dow and S&P futures, bullish sentiment remains strong, though caution is advised as the Nasdaq is extended above its 50-day moving average. Investors are encouraged to refine watchlists and prepare for potential market adjustments.
CoinShares predicts a significant rise in Bitcoin yield solutions by 2025, driven by corporate finance's growing adoption of Bitcoin as a treasury asset. The firm identifies three main yield types: growth of Bitcoin holdings, yield farming through lending, and income generation via derivatives. Increased acceptance of cryptocurrency payments by major companies is expected to bolster Bitcoin treasury reserves, with firms like Ferrari and retailers such as AT&T and Whole Foods leading the way.
UBS is restructuring its US wealth management business, expanding from two national divisions to four regional sales teams, effective January 1, 2025. Rob Karofsky will lead the division, with key appointments including Chris DiMuria for the Northeast and Julie Fox for the Southeast. Private Wealth Management will become a distinct segment under John Mathews.
Microsoft's board has rejected a proposal from Michael Saylor to invest in Bitcoin, citing "unnecessary risks," while Amazon is exploring a significant investment in cryptocurrency, with shareholders suggesting $88 billion be allocated to Bitcoin. Despite Microsoft's cautious stance, Bitcoin's price has shown resilience, recovering to $98,022.63, while the company's stock remains strong, up 20% year-to-date.
Google's new Willow quantum processor, capable of performing complex calculations in minutes, has sparked discussions about its potential to compromise Bitcoin's security. However, analysts assert that the technology is still years away from posing a real threat, as it currently lacks the necessary qubits to challenge the Bitcoin network. The blockchain industry is actively exploring quantum-resistant solutions to safeguard against future risks.
Glauber Contessoto, once a millionaire from Dogecoin, has seen his investment soar again after Trump's election, with his holdings now valued at $2.2 million. Despite his financial success, Contessoto faces uncertainty as an undocumented immigrant, torn between the benefits of Trump's policies and the risk of deportation. As he navigates family emergencies abroad, he reflects on the volatility of cryptocurrency and his promise to his aunt for a house.
Microsoft shareholders voted against a proposal to allocate 1% of the company's treasury to Bitcoin, despite the board's ongoing monitoring of cryptocurrency trends. The proposal, introduced by the National Center for Public Policy Research, aimed to hedge against inflation and enhance shareholder value. Meanwhile, MicroStrategy's Michael Saylor emphasized the potential benefits of Bitcoin integration for Microsoft’s future growth.
The Magnificent Seven stocks—Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta Platforms, and Tesla—showed significant year-to-date gains in 2024, with Nvidia leading at +183.2%. Despite strong earnings reports, Nvidia's stock recently reversed below key levels, while Amazon and Tesla reached new highs. Apple and Microsoft also reported earnings that exceeded expectations, though both provided cautious guidance for the upcoming quarters.
Bitcoin's price has faced volatility, recently stabilizing around $97,000-$98,000 after a drop to $95,000, driven by $1.5 billion in long liquidations. Despite retail panic selling, institutional interest remains strong, as indicated by a rising Coinbase Premium and significant net inflows into spot ETFs. Analysts suggest Bitcoin is in a consolidation phase, with the Greed & Fear Index signaling potential upward movement ahead.
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