Bitcoin is stabilizing
US investors are feeling their way forward
January 10, 2024, 10:49 p.m
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On the day before the eagerly awaited publication of the US price data, investors on the US stock exchanges are a little bolder than before. The Nasdaq posted the clearest gains. Bitcoin is up two percent after its nightly roller coaster ride as a result of a false report.
Ahead of US inflation data, investors on Wall Street are moving cautiously. The Dow Jones Index the standard values closed 0.5 percent higher on Wednesday at 37,695 points. The technology-heavy one Nasdaq advanced 0.8 percent to 14,969 points. The broad one S&P 500 gained 0.6 percent to 4783 points. “There is still speculation about when the Fed might cut interest rates,” said Tim Ghriskey, portfolio strategist at Ingalls & Snyder in New York. Investors were now hoping for new information about the US Federal Reserve’s next steps from the price data due on Thursday. “Unless inflation turns out to be higher than expected, which is unlikely, the trend will be to cut rates sooner rather than later,” said Thomas Hayes of Great Hill Capital. The hope of rapid interest rate cuts drove the stock markets in December.
The cyber motto once again caused a stir Bitcoin. The most important cryptocurrency stabilized again on Wednesday and rose by around two percent to $ 46,230. A false report temporarily drove her up to $48,000 that night. In a statement on A short time later, however, a spokesman for the authority made it clear that the report was incorrect. Hackers gained access to the SEC user account and placed the message there.
After the hacker attack, other stocks in the cryptocurrency industry also went on a rollercoaster ride. This is how the crypto exchange paid Coinbase initially fell almost six percent before almost making up for the losses. The blockchain farm operator Bitfarms Initially also fell by six percent, but then increased by almost three percent. U.S. asset managers remained hopeful that securities regulators would allow spot Bitcoin exchange-traded funds to trade despite the intraday hacker attack. According to analysts, this is likely to lead to increased demand for the cyber currency. “Investors would then have access to Bitcoin through regulated providers without having to go through a crypto exchange that they do not trust,” commented Jochen Stanzl, chief analyst at broker CMC Markets. This would also involve large amounts of investment
Meta on the rise
Meanwhile, the individual values climbed Meta by almost four percent to the highest level in more than two years. The brokerage firm Mizuho’s high price target for the stock to $470 from the previous $400 created a buying mood. The brokerage firm expects WhatsApp could increase Meta’s revenue base by a third by using artificial intelligence to automate customer service. The US technology group could also benefit from increased demand from Chinese e-commerce advertising customers.
After the share price fell by more than nine percent in the previous two days, it also went for Boeing up again by almost one percent. CEO Dave Calhoun admitted guilt for the first time after the emergency landing of a 737 MAX because a cabin wall had broken out during the flight and admitted mistakes.
Strong numbers from the Taiwanese chip manufacturer TSMC once again provided Nvidia with tailwind and lifted the US chip company by 2.3 percent. Rapid sales of specialty chips for artificial intelligence (AI) helped TSMC offset otherwise sluggish demand in the fourth quarter of 2023. TSMC thus exceeded its own expectations and those of analysts.