{ }
Shares in Zurich's insurance group have dropped over 2 percent following a sell recommendation from UBS. This decline is attributed to a surprising interest rate outlook from the US Federal Reserve, which led to a fall in US stock markets and subsequently affected European markets, with the Swiss Market Index losing nearly 1.4 percent in early trading.
The Federal Reserve has cut interest rates by a quarter percentage point, bringing the range to 4.25 to 4.50 percent, amid rising inflation concerns and increasing uncertainty about the US economy. While 227,000 new non-farm jobs were created, the unemployment rate ticked up to 4.2 percent. Investors are now focused on upcoming GDP data and consumer confidence indicators.
IG
World shares are reacting to a selloff on Wall Street following indications from the Federal Reserve about potential rate cuts in 2025. This shift in sentiment reflects broader concerns in the global market as investors adjust their expectations.
Bitcoin's price plummeted below $99,000 after a brief surge past $108,000, following the Federal Reserve's interest rate cut and comments suggesting a halt in future reductions. Altcoins like XRP, AVAX, and DOGE experienced even steeper declines, contributing to a drop in the total crypto market cap from over $3.95 trillion to under $3.6 trillion. Despite some recovery, many cryptocurrencies remain significantly down.
Recent on-chain data indicates that profit-taking in Bitcoin is primarily occurring among investors who have held their assets for 90 days or more, as evidenced by a surge in the Dormant Circulation metric. While long-term holders remain inactive, short-term holders are capitalizing on the recent price rally, with Bitcoin trading around $104,200. This trend suggests a cautious approach among HODLers, who believe in Bitcoin's potential for further gains beyond the $100,000 mark.
The Dow Jones experienced its largest one-day drop in over two years following the Federal Open Market Committee's decision, marking its worst losing streak since 1974 with ten consecutive days of losses, though it managed to stay above 42,000. The S&P 500 also hit a one-month low but is holding around mid-November levels, with potential for recovery if it avoids further declines. Meanwhile, the Nikkei 225 rebounded sharply, surpassing 39,000 and eyeing the key 40,000 resistance level.
IG
RBI faces potential billions in damages from a lawsuit linked to its Russian subsidiary, which could significantly impact its balance sheet. The bank is under pressure from the ECB and US sanctions to reduce its Russian operations, with profits there currently frozen due to sanctions. Despite exploring withdrawal options, RBI's plans are hindered by a Russian court's prohibition on selling its subsidiary.
U.S. stocks are poised to recover some losses after a significant selloff, with futures for the Dow Jones Industrial Average up 121 points, or 0.3%. This comes after Federal Reserve Chair Jerome Powell indicated that persistent inflation means deep rate cuts are unlikely next year, contributing to a 1,100-point drop in the Dow on Wednesday, marking its longest losing streak in 50 years.
Binance’s liquid staking token, BNSOL, has surpassed $1 billion in Total Value Locked (TVL), capturing over 10% of Solana’s liquid staking market. Launched in September 2024, BNSOL has integrated with over 20 Web3 projects, enhancing its utility for trading and lending while offering low gas fees and zero staking fees through 2024. Binance plans to further expand BNSOL’s ecosystem with additional airdrops and protocol integrations, reflecting a growing demand for accessible staking solutions.
David Roche, strategist at Quantum Strategy, analyzes the Bank of Japan's recent decision to maintain unchanged interest rates. He also shares insights on the bank's outlook for 2025, highlighting the implications of this monetary policy stance.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.