35 Burst results for "Marketwatch"
The Bitboy Crypto Podcast
A highlight from Crypto Market Dip NOT OVER? (J. Powell Hints More Rate Hikes)
"We are here in the Bahamas working to make it right. If you can't have a millionaire, would you keep working? The commander is here. What's going on right now is California's trying to figure out if they can defeat the government that popped the pot. Yeah. Oh, I can. Welcome to BitBoy Crypto! Home of the BitSquad, the largest and greatest crypto community in all the Interwebs. No channel works harder to keep you in the know about crypto than this one right here. My name is Ben. Come to you live every single day at 11 .30am Eastern Standard Time. Exactly. Also known as 9 .40pm MST, is that what you call it? Mountain Time Zone. Anyways, regardless, I digress. We are here at RARE EVO. We've got our Bencoin booth. I don't know if you saw pictures of it on Twitter. Super exciting. And, you know, it really made me think when we got here about what was going on last year at this time. And I think that's really where I want to start before we get into the show is really thinking about last year, this event was in October. And it was very interesting. I just talked to Charles. Charles just gave a speech on stage. Charles Hoskinson, founder of Cardano, of course. And last year, him and I did an interview on stage. And the interesting thing that really occurred was not what people got to see. It's what people didn't get to see. The behind the scenes was so interesting. Because if you remember, I made my famous Sam Bankman -Fried rant around the middle of October. This event was towards the back half of October, if I remember correctly. And the thing is, I had already marked the enemy territory with Sam. And our bill was progressing. And I had sent my bill to Charles. And I sent everything that, oh, there's crypto India. She looks like a monkey. She's got a banana. The fact is that we're spending all of our time and our resources and, you know, really trying to put things into this bill, and I asked Charles if he would support it. Same reason we sent the bill originally to FTX. And, you know, there's different stuff going on, but the point is the conversation went kind of like this. Charles, I don't understand. Why do you not want to support our bill? Like either financially or kind of giving it a vote of confidence? And he said, well, you know, I don't think the CFTC is going to like it, is what he said. He's been, you know, on Capitol Hill on the behalf of the Department of Agriculture, which, you know, all crypto falls under. And he said, you know, but here's the thing. I've dug into what you've been saying about Sam. And he said, it's true. Sam is doing all the things that you said he was doing. And here's the line. He said, but, you know, in the end, he's Sam Bankman -Fried. He's going to mess up. He's incompetent. That's what he does. And let me tell you, you want to talk about an accurate statement. Look how everything played out last year. Like being here and talking to Charles a second ago, it just really reminded me of that event. But here's the thing. You've got bad actors, okay? And there's a lot of bad actors in crypto. We know that. But the bad actors, they almost, in a roundabout way, it's like one of those circular staircases where you can't ever find where it, you know, enters and exits. Where are the good actors? And where are the bad actors? And the thing is, is that the bad actors, they almost force the good actors to be shown and to be present. And I think that's what you've seen over this last year is with the contagion and with the Alex Wyshinsky and Sam Bankman -Fried, you know, you really start to see who the good guys are, and they're not who they told you they were. And, to me, being here at Rare Evo again and seeing where we've gone in the last year, of course, you got a lot of bad stuff, but there's something like Bitcoin that now, you know, we're running. We've got our booth here. Super exciting. And it's all about crypto adoption. It's about taking those things that, you know, aren't quite right with crypto, whether it's the public perception, whether it's the education about crypto, whether it's the government, the policies, regulations, or whether it's the media, you know, we've got a lot of stuff to fix. And this technology can be used for the good. And that's ultimately what's going to happen. It's just a matter of the good guys, I guess, outshine the bad guys. So, we're going to get started here. There's Wendy. Wendy, you want to come, just come be on the stage? Do you want a banana, you hungry? I must ask you a question. Where is Bitcoin going to? We're going to go to do our show later today, I think. Tomorrow. Tomorrow, yeah. Our show's tomorrow. We're going to film lots of episodes tomorrow. Yeah, we're going to do four. So, we're going to have four for you guys. And you're going to be wearing something, aren't you? Oh, yes, I bought an apron. Do you want me to wear a muumuu? I draw the line that started to look like a woman. It was a cat muumuu, but they had one in blue. Yeah, they did have one in blue. It is true. It's not the color. It's like a dress. I know, but you could have worn pants. You can't do it. It could have been like ATL shorty. Shoddy. It's shoddy. It's not shoddy. It's shoddy shoddy. Well, from the west side. I can tell. I can tell. ATL. Shoddy shorty. Okay, well, here's orange you glad that you brought that banana? Bye, guys. Okay, guys, let's go get started with MarketWatch here. As you do know, we did officially switch to CoinGecko from CoinMarketCap. Now, I can't really see the chat, I don't think. So, yeah. So, guys, I love you a lot. I can't see you today, but you get to see me. And we're probably going to, guys, we're probably going to plan on ending it about probably 12 .30 today. So we're going to go through the show kind of quick. Okay, so here we go. We are on CoinMarketCap. Okay, there we go. Is BJ manually switching this? He's in here. Okay, looking at the overall markets. By the way, CoinMarketCap did actually start fixing some stuff. So they did email me after my big tirade the other day. So we'll see what happens there. The market cap almost at $1 .1 trillion. You know, we were just barely over a trillion a couple of days ago. Volume, $36 billion. Bitcoin dominance, 46 .4%. ETH dominance, 18 .2%. I'm going to get a little more used to these CoinGecko numbers to know whether that's up or down. I don't even remember. Gas, 15 .0 Paraguay to send you an ETH transaction. And I hope you guys enjoyed us going live from this, thank you, we're going live from rare evo today. This is one of these things where, you know, the more we travel, the more we go to events, you know, we can have BJ with me. He's an animal with the tech. And there he is. There's BJ, ladies and gentlemen. So, you know, we want to be able to bring you guys more live shows even when I'm on the road instead of, you know, look, we love Deezy. He's great. He's here. But I know you guys don't necessarily want to fill in. And all my Deezy fans, I guess y 'all like around the blockchain anyway, so he's going to be going live or going to be doing a show from here as well. Bitcoin coming in at $26 ,000 approximately. Ethereum coming in at $16 ,400. Uh -oh. Scam. BJ, Scam Likely is calling you. Scam Likely is calling you. $16 .48. Let's see. Where is the old XRP coming in at $0 .51? Yeah, I mean, we pretty much wiped out the entire gain from the lawsuit. And I wasn't expecting it to retrace all the way, but I guess it kind of depended on how high that it went. If it had gone $3X, then it shouldn't have. It just doubled. $0 .50 to $1 and then, or whatever it was, $0 .45 to $0 .90, and now it's crashed back down. But, of course, that's a reaction to the overall market. A lot of people are really expecting a big drop here. And I'm just not. Like, I just don't see it. I try not to get too caught up in the narratives. And, yes, there are some things about the 4 -year cycle that do indicate that there should be more down action, especially compared to Ethereum to Bitcoin. You can chart it doesn't look good. But I almost feel like everybody talking about it, you know, it seems to sometimes negate that. When everybody's expecting a big drop, it doesn't really happen. That's the thing. When we got our big drop from $70K at the top, nobody was expecting that. When we got the FTX collapse, right? Out of nowhere, nobody was expecting that. And so right now, everybody's telling you a big drop is coming, and it's like Bitcoin just loves to defy the narrative. It fits within the fundamentals of the 4 -year cycle, but in the micro, Bitcoin likes to defy. So, or defies, I may say. Let's see. Albert Condi with Superchat. I actually have the chat now. Yobin, you guys have lawyers on your payroll, right? Of course, with all the legal attacks from the US government, I want to watch some streams of discussions with lawyers who know crypto. Okay. That might be something we could, you know, might be better for maybe pre -recorded video rather than live streaming. Live streaming would be good too. But, yeah, thank you for the Superchat. Turn noise cancelling off. What does that mean? Is that us? Okay. One. What are you doing, BJ? No. BJ says no. BJ says no. We can only do the best, guys. What do we got? So next time, BJ says we're going to be a little bit even better prepared, so. We got RollBit coming in, 19 .7 % gains. If you guys did not know, RollBit is kind of a competitor to Stake in a sense, so we can't be covering RollBit really too much on this channel other than to say, look, the price went up, went up 20%, nice pump, and it's one of these things that's been running in the bear market, and it's obvious because people just want to gamble in the bear market because there's not a lot of gains to be had in the crypto world, so unless you're shorting or leverage trading, so RollBit's one to watch. Now, you know, Stake doesn't have its own coin, which is very interesting. I doubt they would ever do that. I don't think it's somewhere they want to get it, something they want to get into. But, you know, are we seeing a decentralized version kind of pop up? We'll have to see how RollBit goes. We have some coins up, barely. Big Ed token, Quant, Mantle, Polkadot, DYDX. So, alright, so let's go ahead and move on. Don't forget, guys, in here at the booth over here, we have a ton of Bitcoin merch. You guys, don't forget to check out hitmerch .com. We got an entire Bitcoin collection. So, you know, it's some really cool merch. Hope you guys check it out. I'm going to be in a dunk tank later, and I guess I'm probably going to see if we have some Bitcoin tank tops and shorts for me to get in the dunk tank with. It'll be everywhere now for charity. Alright, guys, moving on here. US Fed's Jerome Powell and Jackson Hole prepare for more rate hikes, so kind of serious, kind of, kind of not necessarily unexpected news, but they are really committed to, you know, lowering these rates and getting inflation under control, at least making it appear that it's under control. It's kind of like this. It's like, you think of quantum easing or quantitative easing, you can kind of think of it as like a superpower for the Fed, I guess, right? Like, what happens is, you know, I used to remember this game we used to play, right? All the boys, the boys, we go to the arcade. There are two games, really three games, that were four -player games that people just loved when I was a kid. You had The Simpsons. Simpsons was a four -player arcade game. It's pretty cool. Whatever. One of my favorite one, but I did beat it because that's what I do. I'm a winner. You also had Ninja Turtles. Ninja Turtles, man, what a great game that was in the arcade. Man, 4x4 action, you and your buddies, birthday party, you know, go to a big place like, you know. We used to go to a place called American Adventures, but there's other places, Dave and Buster's. And so what happens on this X -Men game? They had this X -Men game. And that was the game we all loved more than any of the other ones because it had this cool superpower. You kind of like store the superpower up, and you are willing to go all the way down to like one bar of your energy. You just take the hits, take the hits, take the hits, because you knew the maximum value of when you use your special power that will blow up everything on the screen was worth it. The appeal to use the quantitative easing for the federal government and Jerome Powell for the Federal Reserve is more appealing than the temporary hits that the economy is taking. They know as soon as they turn the quantitative easing back on, that they're going to be able to fix everything just to mess everything up again. But that kicks the can down the road, right? So they're willing to take the hits going down to no energy, your economy not do well, there's tons of stats showing our economy is actually worse than the Great Depression right now. It's all fake, and it's all smoke and mirrors. That's what the government's learned to do better over time is create the optical illusion that everything's fine when it's clearly not. So, Jerome Powell is, you know, basically saying like, hey, here's the thing. Let's see if this is all part of the optics. We're going to keep raising rates. It's what has to happen for us to get inflation under control. There's no such thing as getting inflation under control, guys. Our money is worthless. There's nothing behind it. It's going to happen again. Powell revealed that the Fed staff intends to hold the interest rates at a restrictive level until they are confident that inflation is moving sustainably towards a 2 % target. They made their remarks at the Economic Policy Symposium, also popularly called Jackson Hole Symposium, or Jackson Hole Meeting, posted by the Federal Reserve of Kansas City. I actually took a picture outside that one time when I was there for a Chiefs Finals game. Prior to the speech, traders were anticipating the Fed chairs' comments on the long -term economic scenario amid the ongoing macroeconomic uncertainty. So, there we go. And, of course, Bitcoin price hasn't, doesn't seem like it's really done that much for the Bitcoin price one way or the other. Okay. So, also, guys, we have IRS spares, crypto miners and validators and new broker reporting requirements. And, you know, here's the thing, guys. I told you that this thing about who's a broker in crypto, right? It was in some language of the big Digital Currency Act that got, you know, implemented a couple years ago, and everybody was worried about this broker language because it was going to affect miners. I told you the whole time, guys, the system has a lot of different fail -safes in it, okay? And so when you see one of these stories like China banning Bitcoin, like, okay, cool, you know, it's not that big of a deal. I knew this broker stuff in the United States. I knew it was going to end up not being a big deal. The language was not clarified in the bill, but I said it would get clarified later. And here, you have the IRS saying basically exactly what I just told you, is that even though the bill said one thing, this is what the IRS is going to do and how they're actually going to legislate and regulate this, or I guess the IRS just keeps up with the money. How are they going to hold it financially accountable? The Department of Treasury released its highly anticipated proposed regulations for crypto currency brokers. Notably, it's chosen to exempt individual validators and miners under the proposed rules. And this is big for DAOs, too, guys. Under the proposed rules, crypto brokers will have to adhere to the same rules as securities brokers, including filing information returns and furnishing pay statements for all customers and traders. The Treasury stated that the proposed changes aimed to curb crypto tax evasion and prevent crypto investors and businesses from getting an unfair advantage. Biden said there's as much as $18 billion left on the table. We all know he wanted that so he could give it to Ukraine or his son could squirt it up his nose. The rules that passed would go into effect 2026 for the 2025 tax year, which is absolutely huge because the 2025 tax year is the year to harvest the gains, right? That's when the bull market is going to be thriving, probably ending somewhere around the summer of that year. So, let's see. Yup. You guys, we're in a big room here. This is what happens when you're live at a conference, is what it is. Okay. Alright. Let's move on here to the XRP trial here. And you guys know our XRP section is always brought to you by stake. You know, in my opinion, some of the best bread that exists is a golden crown. Golden crown has got these rolls there. Now, they don't have anything else that's good, but they've got these rolls. They're immaculate. They're so good. They're buttered. They're fantastic. And it really makes every other roll that you've ever had just taste mid. So, BJ, please play the mid roll. Thank you to our sponsor, Stake. Thank you to our sponsor, Stake. Also, thank you to Rare Evo as well. Okay. Why the SEC vs. Ripple trial may never happen. Insights crypto from lawyer Fred Rispoli. Talked to Fred a few times. Good guy. The SEC vs. Ripple Labs lawsuit has been a significant battle in the crypto world. On July 13, Annalisa Torres, the judge, delivered a complex ruling. It wasn't really that complex. Prominent crypto lawyer Fred Rispoli took to microblogging platform X. It's like calling Bitcoin the flagship cryptocurrency. Like, the microblogging platform X. Is that really what we're saying now? Come on. Ryder, I know you get paid for word, but come on. I can do better. Desiria's belief that the trial between the two Ripple Labs executives may never take place. Here's why Rispoli thinks so. Pressure tactics. He argues at Garlinghouse that suing Garlinghouse and Larson was a strategy to pressure Ripple into a weak settlement position agree 100%. Witness challenges. Imagining key SEC figures on the witness stand. Rispoli believes figures such as William Hinman and Jay Clayton could be tied to their roles in the Trump administration, which might not sit well with a New York City jury. Proving reckless. Rispoli questions about how the SEC could prove recklessness regarding institutional sales when the defendants can point to programmatic sales as being acceptable. Weak evidence. Of course, the evidence concerning domestic vs. international sales is considered weak. Reorganization of the SEC's trial team. They've already been making some internal changes to their trial team in this case. Back -to -back trials with the SEC's tight trial schedule may hinder its ability to focus on this case. It's one of these situations where Gary Gensler does not want to let go. He does not want to let go of this. But he's going to in the end see that this is a losing battle for him, and he's got to make the choice to move on. It's a hard decision because it basically means that everything he's been talking about, his entire stint at the SEC, is nullified. And what does that mean? That means that he himself becomes replaceable because he's been in charge forever and he's done nothing. That's the whole point. It's why we need someone to replace him. And the writing is on the wall for him, and he is going to fight until the last second, but at some point, he's going to have to give up the ghost because he's going to start getting pressure from people outside of him. When he starts feeling that pressure, that's when this is going to be over. The lack of bargaining chips. He's just as he has no bargaining chips left if the judge denies the motion for the appeal. So the Interlocutory Appeal, definitely something to watch, something to pay attention to. We had to find out and see, you know, where Judge Suarez rules on that. Alright, guys. Moving on here to Robinhood. And where do we have charts on there at all? Are we going to do charts at all today, BJ? We have it. It's on there, Ben. Did I go by? Where is it? It's after this. Okay. Okay. Perfect. Yeah. Okay. I got it. Okay. Oh, I see it. There it is. It's on my screen. I missed it. Can $1 .9 billion in expiring options shake the markets? You know, guys, we're getting to a place of decision point for the market. We're getting to a decision point. Bitcoin options expiry days come around again. And, guys, the end of Quarter 3 is going to be the end of September. That's going to be a, like I said, a decision point. Where is Bitcoin going to go? Are we going to continue upwards? And are we going to see things slowly ramp up to the halving? Do we need another bloodbath, another dump? Certainly don't see new lows come into play anywhere. But are we going to see a dump down to 20 before we have our resurrection point? It's all very interesting things to think about here. And if you look at traditionally when we were in the bull market, man, the end of those quarters would be absolutely brutal. They would destroy some of the pumps that we had. Now, we're on the backside. Now, we're in the bear market. Will the options within everyone's bearish attitude, will these actually counteract and go the opposite direction and cause a big pump? I certainly think it's possible. We could see that. Now, what does that mean? Well, the pain point for bulls and bears, the middle ground is $28 ,000. So at some point, it's going to either push up above $28 ,000 or it's got to show that $28 ,000 seems to be unachievable in the moment. Right now, with Bitcoin at $26 ,000, of course, it seems achievable. But are we going to dump down lower and make $28 ,000 kind of out of the picture again? We'd have to go below $25 .2K and hold below that. Here's some of the options. You guys can see here what this looks like right now. We are, you know, heading into the 1st of September. This is the 25th of August here on the left side. That, of course, is, yeah, the 25th of August. That's Friday. That's today. That's actually today. Today is, no, no, sorry, today's Thursday, right? No, it's Friday. It's Thursday. It's Friday. It is Friday. I forgot what day it is. We didn't do the show yesterday, so it got really turned off. It is Friday. Today's the day they expire. So, guys, we'll be watching for some interesting action. You know, see, you know, if Bitcoin is going to pumper down based on all this. Right now, it's holding strong. The overall market cap around $1 .1 trillion. So it doesn't seem to have that big of an effect so far. Okay, so let's go and move on to the charts.
Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
A highlight from 1381: Bitcoin Will Touch $100 Million By This Date - Fidelity
"In today's episode, I'll be breaking down the latest technical analysis, as well as breaking news. This just in, BRICs to officially abandon the US dollar for trade settlements, quitting Max Kaiser. This is what happens. The BRICs following up on Russia's big win in the Ukraine will launch a gold -backed currency. The reaction from NATO countries will be fatally panic print fiat money. Also in today's show, analysts issues a dire warning for Bitcoin and says Bitcoin price can plunge below the 2022 lows. I'll be breaking down these targets. As well as Glassnode founders predict Bitcoin will soar to new highs sooner than expected. And I'll be giving you a hint, it's a six -figure target. Send it and let's go. As well as ex -Goldman Sachs executive Raoul Pal predicts crypto hits $10 trillion valuation after family offices and institutions arrive. We'll also be discussing breaking news the Bitcoin halving can take the Bitcoin price action to $148 ,000 per coin by July 2025. According Petterra to Capital, we'll also be discussing our main story of the day and that's Fidelity, one of the largest asset managers in the world. They're predicting the Bitcoin price to touch $100 million. I'll be sharing their date as well as their latest analysis. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show. Yo, what's good crypto fam? This is first and foremost, a video show. So if you want the full premium experience with video, visit my YouTube channel at cryptonewsalerts .net. Again that's cryptonewsalerts .net. Welcome everyone. Just tuning in. This is pod episode number 1381. I'm your host JV and today is August 24th, 2023. Checking out our market watch, which you can see here on the screen. Unfortunately, we didn't hit 27 ,000 though. We got quite close yesterday. Today we corrected back in the red with Bitcoin barely holding on to 26 ,000 as support down two and a half percent for the day. We also have Ether down two and a half percent trading at roughly $1 ,650 and checking out coinmarketcap .com, the current crypto market cap sit just above that trillion dollar milestone with roughly 30 billion in volume in the past 24 hours with a Bitcoin dominance at 48 .3 % and the Ether dominance at 18 .9%. And checking out the top 100 crypto gainers in the past 24 hours, we have Bone leading the pack, no pun intended, up 12 and a half percent trading at $1 .43, followed by Render up two and a half percent trading at $1 .46, followed by Immutable up just 1 % trading at 58 cents as virtually all the major alts are currently correcting and in the red as we can see here on Crypto Bubbles. And checking out the Crypto Greed in Fear Index, one of my favorite indicators, shows we're currently rated a 41 in fear. Yesterday was a 37, last week a 50 and last month a 50 in neutral. So there you have it. Welcome to everyone just joining us for our live stream today. I appreciate all the live support as we receive here each and every day. Without further ado, let's now break down our Bitcoin technical analysis and check out the charts and what's popping with the King Crypto in the markets after last week's massacre that brought Bitcoin from about that $29 ,000 level to $25 ,300, which is a new two month low within a single day. The asset started to show enhanced signs of stagnation. Now the next several days, including the typically less volatile weekend, were quite boring with the Bitcoin price standing at around $26 ,000, which is precisely where we're at at the time of this recording. Now the only more notable move came yesterday when Bitcoin fell by over $500 ,000, but recovered those losses almost immediately. And as such, it had calmed at around $26 ,000 before the bulls stepped in on the gas pedal and pushed it north $800, which resulted in a six day high, which sits at $26 ,800. So as of right now, Bitcoin has lost some steam, but it's still practically broke even for the day. We're down 2 .5 % at this time. And also we can see the altcoins obviously getting wrecked as well. So the altcoins suffered just as badly and even worse than Bitcoin plummeting last week, and they failed to produce any substantial gains for the following days. And I'm actually curious, which altcoins are you currently bullish on, if any? Let me know your honest thoughts in the comments right down below. And now let's actually check out this tweet from Watcher Guru, who points out just then the BRICS to officially abandon the US dollar for trade settlements. And Max Keiser wrote, this is what happens. The BRICS following up on Russia's big win in the Ukraine will launch a goldback currency. The reaction from NATO countries will be fatally panic print fiat money as that money printer continue to go. He also said that this is announcement number one, abandon the US dollar. Next they'll announce a common gold backed currency. And he quoting himself here from Najee Bokele, Nax is always right. So preach and shout out to Max Keiser and Stacey Herbert of the Kaiser report. Now how many of you have been following BRICS? We have been covering this story here on the show. Now, many nations all united together for the de -dollarization of the US dollar and introducing a new currency, which is allegedly going to be gold back. So it'll be interesting to see how all this plays out. All I know is this only keep in fiat what you're willing to lose. Take that to the bank, pun intended. Now let's break down our next story of the day and discuss new lows, which could be incoming as per crypto analysts. I'm going to be sharing some of these targets and then we'll get into some of our bullish price predictions. So I like to cover the lows as well as the highs. Here we go. Bennett tells his 111 ,000 followers on X that Bitcoin can plunge by nearly 50 % from the current price. Holy moly. Wouldn't that take us like, what, south of 13 ,000? Using a chart showing Bitcoin had fallen out of the ascending channel that it has been stuck in for about a decade, Bennett says Bitcoin could plunge to slightly below that support level of $14 ,000, acting as a strong resistance zone between 2018 and 2020. Now, I'd like to point out, as you all should know, the current low for this cycle is 15 ,700 we hit in the fourth quarter of last year. So this analyst is ultimately saying we could potentially expect a new low of $14 ,000. Let me know if you agree or disagree with the analyst, quoting him here. I posted this Bitcoin chart showing macro resistance at 29 ,000 to 33 ,000 back in March. 31 ,800 was the recent swing high. That's right. It's the annual high for this year's 31 ,800. And he goes on to share, guess what comes next? Well, according to Bennett, a Bitcoin plunge could be set off by the S &P 500 falling by double digit figures, quoting him here. What could trigger it? The SPX doing this, correcting by over a quarter of its value. It'll be interesting to see if August finishes as a bearish engulfing month. Now earlier in the month, it's also worth noting, Bennett predicted that the S &P 500 stock index would plummet if it failed to go above 4610 points reached in July. Now the 4610 level is SPX lowest relative high to the 4820 points recorded back in January of last year. Quoting the analyst again, a 27 % dump from the SPX is more than possible if this confirms as a lower high. We have already seen significant breakdowns from other indices and big names like Apple. So don't rule it out. Imagine the carnage in the crypto market if this materializes. So there you have it. Let me know if you agree or disagree with the analyst. I like to keep all scenarios open for a possibility or probability. I think it is less probable to happen than to happen. But even if there is a 10 or 15 or 20 % chance of that playing out, you should be prepared. Now with Bitcoin, it's great because when the market drops, you seize the moment. Keep stacking them stats, BTFD, DCA, dollar cost average. And when the price goes up, you just count your blessings and you're grateful that you were stacking stats during the bear market. So either way, whatever comes ahead, we're going to capitalize and continue winning because that's what we do here on Crypto News Alerts. Now let's discuss this $144 ,000 price prediction by Glassnode founder in 2024, which is right around the corner. We also have the Bitcoin halving right around the corner. So let's break this down, shall we? The co -founders of the crypto analytics firm Glassnode think Bitcoin can soar towards a new all -time high faster than many analysts and traders expect full send it. Let's go. Glassnode co -founders who share the Nijentropic Trop, whatever you pronounce that word, handle on X, predict that the US dollar index will peak at 106. The US dollar index is a measure of the value of the US dollar against a basket of six major currencies valued at 103 at this time, according to MarketWatch. Now the founders of Glassnode predict that the US dollar index hitting its peak will set the stage for the prime Bitcoin environment. Send it. A peaking US dollar index suggests that investors are starting to make their capital work and risk assets such as cryptocurrency, quoting them here. Up next, Bitcoin aiming for $37 ,000 before soaring higher in the autumn as outlined right here in this chart. I sure do hope they're right. Now the Glassnode co -founders also share a chart that projects Bitcoin will surge more than $144 ,000 per coin by early 2024. As outlined right here in this chart, you can see that top peak is hitting $144 ,000. Wouldn't you love to see that? They also go on to share that oversold indicators hint at potential short -term gains. However, keep an eye out for the risk signal plateauing at 100, suggesting a consolidation phase until the demand dynamic shift, which is outlined again here in this chart. Now with Bitcoin currently trading at 26 thou, the top ranked crypto asset is roughly 62 % down from its all -time high of more than 69 ,000, which it achieved back in November of 2021. That's right. So great time to be stacking stats at a 60 % discount, I'd say. Wouldn't you agree? Let me know. And how many of you have been doing just that and buying the dips? Holla at your boy in the live chat. Like I said, at the end of the show, we'll be reading everyone's comments out loud. Now let's talk about the latest from the ex Goldman Sachs executive, the one and only Raoul Pal. He's predicting a $10 trillion market cap. As you know, the current crypto market cap sits just above $1 trillion. So he's ultimately saying the entire crypto market is to 10x. Then we'll break down Pantera Capital's latest $148 ,000 price prediction and followed by Fidelity, one of the largest asset managers in the world, predicting the Bitcoin price to hit $100 million per coin. Then we'll dive into our live Q &A. Former Goldman Sachs exec Raoul Pal predicts that the total market cap for cryptos will soon soar to $10 trillion as institutions pour into the digital asset space. In a new interview with Binance's sales manager, the macro expert says financial institutions are likely to follow family offices, which typically take on higher than average risks into crypto investing. Quitting the analysts here, I think in this next phase, the next bull market or the next business cycle, we'll see a mass onboarding of institutions. I have seen this space before. Usually it's the family offices that are first to take the risk. And we have all seen that in this space. Many family offices were the first to invest because they are freer to do what they wanted with their own capital. As I have said, most of the institutions have done work, including the investment banks. And so now they just need price confirmation and then they'll be in. So I think we'll see a lot of that. Paul believes that institutional investment in crypto will be large enough to drive the total market cap of digital assets to more than $10 trillion. More than triple its $3 trillion market cap peak, which was hit back in 2021. Quitting him again here, the asset class at peak was $3 trillion in 2021, the same year we hit the all time high of $69 ,000, just FYI. It's almost impossible for the retail investors to continue this pace of adoption. It needs institutional capital as well, which drives out the ongoing adoption curve. So my view is still by the end of this cycle, this space is probably $10 trillion plus. And that happens because of the institutions coming into the space, offering more products to their clients. And he continues. So institutions coming into the space tends to mean that BlackRock, the world's largest asset manager, offers a product to their network of advisors. So it allows more money to come into the space via different mechanisms. An example, aggregated mechanisms of funds as opposed to individual accounts being open on Binance, for example. So there you have it. Let me know if you agree or disagree with the macro guru that were likely to see a $10 trillion crypto market cap, more than 3X the peak that we reached in 2021. Let me know in the comments below. And to watch this video he did entitled Binance VIP Voices, episode one with Raoul Pal from Real Vision. Check the show notes below the video in the description. And now for our next story of the day. And that's Pantera Capital predicting the Bitcoin price to soar above $140 ,000 in the coming times ahead. Let's break down this outlook and then we'll cover the latest from Fidelity. And their $100 million Bitcoin price prediction. Here we go. And if you'd love to see a $150 ,000 Bitcoin price for the cycle peak, let me know. In its latest blockchain letter released on August 22nd, executives at the crypto asset manager doubled down on their Bitcoin bullish price forecast for 2024 and beyond. Now the Bitcoin price performance depends heavily on its halving cycles. Pantera Capital argues with the next due within the coming 12 months. In fact, the next halving is scheduled to be in April of 2024, less than nine months. Take that. The firm is betting that historical trends shall continue. Bitcoin, it notes, tends to put in a cycle bottom and top roughly equal lengths of time from each block subsidy halving. Facts, which cuts the number of Bitcoin paid to miners per block by 50%, quoting the firm here. Bitcoin has historically bottomed 477 days prior to the halving climb leading into it and then exploded to the upside. Afterward, the post halving rallies have averaged 480 days from the halving to the peak of that next bull cycle. That same theory suggests that the 2022 bear market bottom marked the current Bitcoin price cycle bottom, quoting them here. If history were to repeat itself, the price of Bitcoin should have trough December 30th, 2022. And looking forward by the halving date in April of 2024, Bitcoin could be trading at around 35 ,000, something that is still on track to accomplish. I'd say that's quite conservative considering that's just a few more thousand from where we're currently at. However, what happens in the 480 days afterward involves not only a new all time high, but so much more. Quitting Pantera here, the 2016 halving decreased the supply of new Bitcoins, only one third as much as the first. But interestingly, it had exactly one third the price impact. The 2020 halving reduced the supply of new Bitcoins by 43 % relative to the previous halving. It had a 23 % as a big impact on price, Pantera stated. The next halving is expected to occur April 20th, 2024, roughly, what is that, eight months out. Since most Bitcoiners are now in circulation or Bitcoins, each halving will be almost exactly half as a big reduction in the new supply. If history were to repeat, the next halving would see Bitcoin rising to 35 ,000 per coin before the halving and 148 ,000 after the halving. Now, 480 days from the April 2024 halving makes Bitcoin scheduled to hit its next all time high by July of 2025. Let me know if you agree or disagree with Pantera. Now, Pantera is far from alone in predicting a six figure Bitcoin price high beyond next year. We also have optimistic forecasts, including those based on Bitcoin's so -called lowest price forward metric, which this month showed Bitcoin passing the $100 ,000 mark by 2026. And naturally, there are a lot of bullish metrics predicting six figures plus, including the stock, the flow. Others also believe that $100 ,000 is possible not before the next year's halving, but some analysts are saying we can hit $100 ,000 before the halving. So I'd love to know your thoughts. Let me know in the comments right down below. Welcome, everyone, just tuning in to the live show. Now let's break down our final breaking story of the day. And that's a $100 million price prediction per coin for Bitcoin as per Fidelity, one of the world's largest asset management companies. They control currently over $4 trillion in assets under management. The other year, they were maybe as high as $8 trillion. So you know, it fluctuates. But again, one of the largest asset managers in the world. Let's break this down, shall we? While several retail analysts have been given some crazy targets for Bitcoin, this time investment giant Fidelity has made some mind blowing predictions in its recently held very special webinar. Just FYI, this prediction was made back in September of 2021 on $100 million by the year 2035. And a few months later, he ultimately said, I think we're a little bearish. Let's raise it 10x to $1 billion per coin by the year 2038. So I'm going to be breaking both of these predictions down for you here in just a moment. Now Fidelity has been in the crypto space for a while. The financial giant has its own crypto subsidiary offering enterprise grade Bitcoin custodial services to institutions, drawing inferences through the stock to flow model by Plan B. Fidelity has put forward a $100 million price target for Bitcoin by the year 2035. And furthermore, it sees Bitcoin touching a $1 million price target in a decade's time. Bitcoin's exchange guide was the first to report about it. Shout out to the Bitcoin exchange guide. Now Jarian Timmer, director of Global Macro, was the host of the webinar, and he shared several charts helping the audience understand Bitcoin. Now, is it even a realistic expectation for Bitcoin to touch that $100 million mark? Although we have 15 years of the time horizon to touch these targets, it seems unrealistic at this point, one of the crypto analysts on Reddit noted. And furthermore, Timmer also shared charts showing the Bitcoin adoption curve based on its active address count. He also showed an interesting comparison with internet users, broadband subscriptions, as well as mobile phone users. And interestingly, the webinar put some light on the purchasing power of different asset classes. Stocks were the clear winner, followed by bonds and cash. The purchasing power of the US dollar stood the least. The yellow metal, aka physical gold, isn't even doing better at $94, whereas the inflation index has skyrocketed to $65. And after staying under pressure for the past two days, Bitcoin ends on another attempt for $50 ,000. And again, this was going all the way back to 2021. So a few months later, Jarian Timmer, head of Global Macro at Fidelity, makes another very prediction interesting that the Bitcoin price is not going to $100 million no more. It's going to a billion dollars per coin by the year 2038. So let's talk about how realistic this could be. To support his forecast, Timmer employed a combination of models and charts with a particular focus of the stock to flow model and his own demand model. These analytical tools form the foundation for his primary prediction. And you could actually see in this chart brought to you by Fidelity, the above demand model employs Metcalfe's law. And according to this, the number of its users grows linearly, a network's value or by inference, the Bitcoin price grows geometrically. This means that the utility and the adoption of Bitcoin are expected to grow more rapidly compared to its network of users, exchanges, ATMs and participating retailers. Therefore, this model predicted the Bitcoin price to reach $1 million by 2030. And let's talk about that really quick, because we also have other major, major influencers in the space, including ARK Invest's Cathy Wood, also predicting a $1 million Bitcoin price. We have Michael Saylor, we have Max Kaiser, we have Plan B of the stock to flow model, and the list goes on and on. But anyways, back to this prediction. In contrast, Timmer stock to flow supply model noted the event of significant price surges during each halving event. Consequently, when considering this model in conjunction to other factors, it foresees a price range of $1 million to $10 million for Bitcoin by the year 2030, virtually the same prediction as the stock to flow model. Timmer's demand model is more inclined towards reflecting the bottom of the Bitcoin price. But on the other hand, the stock to flow model seems to provide a better approximation for the peak of the king coin. However, it's worth noting that the disparity between these two models widened significantly beyond the year 2030. The reason behind the gap is expected to be the changing value of the dollar. Can anyone say hyperinflation coming to the USD? Timmer proposes that the value of the dollar undergoes fluctuations over time when compared to other assets. For instance, if $1 was invested in stocks during the 18th century, its present day value would be about $4 billion. That's crazy, right? And similarly, Timmer implied that if $1 million is invested today, it can grow to $1 billion in a span of 20 years. So he's virtually saying, want to become a billionaire? Just invest $1 million into Bitcoin and HODL be thy name. This further revealed that the purchasing power of the dollar has significantly reduced due to the factors like inflation as well as depreciation. Thus Timmer's statement implied that keeping a fixed amount of dollars for many years may lead to a reduced purchasing power due to the assets changing value. And I think he makes a great point as Michael Saylor called it. It's like a melting ice cube keeping fiat currency in the bank. It just makes no sense whatsoever. Now check it, over the last few years, an increasing number of companies are taking over the $1 trillion market cap mark. As a result, it is foreseeable that in the next two decades, 20 years, the concept of a trillion dollar valuation will become more common so much that individuals themselves could be worth a trillion dollars or even more. The scale of numbers may even reach the quadrillion range. I already know for a fact people like Michael Saylor and CZ, the Binance CEO, will become trillionaires. Mark my words. And despite Bitcoin's historical growth, it has recently faced a significant setback. Bitcoin's network activity had diminished. Well again, this is tracing that back. Higher network activity likely increased transaction volume. Well something I have to point out, yesterday as I covered in the show, we just reached a new difficulty adjustment, the highest it's ever been. The hash rate continues to go up and as Max Keiser commonly says, the Bitcoin price follows the hash rate. So we'll likely see how the Bitcoin price will likely play out, you know, by the time of the next halving, which again is what, eight, nine months away in 2024. And then of course, by 2030, will the Bitcoin price be a million dollars or $10 million? Will the US dollar be hyperinflated by that time? And could this be a realistic scenario by the year 2038? One bit, oh shit, one Bitcoin, but we can literally hit an insane $1 billion price value for the king crypto. So, let me know your honest thoughts in the comments right down below. And don't forget to check out cryptonewsalerts .net for the full premium experience with video and to participate in the live Q &A. And I look forward to seeing you on tomorrow's episode, HODL. Actually at the end of the day, in today's show, we'll be breaking down the latest technical analysis as well as breaking news, BRICs to officially abandon the US dollar for trade settlements, Max Keiser's response. This is what happens. The BRICs following up on Russia's big win in the Ukraine will launch a gold -backed currency. The reaction from NATO countries will be to fatally panic print fiat money. We'll also be discussing analysts issuing a dire warning for Bitcoin, says Bitcoin can plunge to new 2022 lows. I'll be sharing all of his targets as well as Glassnode founders predict Bitcoin to soar to new highs. And I'll give you a hint, it's in the six -figure range. We'll also be discussing ex -Goldman Sachs executive Raul Powell predicts the crypto market to hit a $10 trillion valuation after family offices and institutions arrive. We'll also be discussing breaking news the Bitcoin halving can take the Bitcoin price action to $148 ,000 by July of 2025, according to Pantera Capital. We'll also be discussing our breaking story of the day, Fidelity expects the Bitcoin price to soar to $100 million per coin by the year 2035. We'll also be taking a look at the overall crypto market, all this plus so much more in today's show.
The Bitboy Crypto Podcast
A highlight from SBF's Election FRAUD (Dark Donations EXPOSED!)
"We are, uh, here in the Bahamas, we are going to make it right. If you became a millionaire, would you keep working? The commander is here. What's going on right now? California's trying to figure out this thing. Don't think I got a pop in my butt. Yeah. Oh, I can. Welcome to BitBoy Crypto! Home of the BitSquad, the largest and greatest crypto community in all of the Interwebs. I just propelled from the ceiling, folks. I actually jumped off the monkey's shoulders there. Today is August 15th. It's the middle of the month. Wake up, wake up. It's the middle of the month. It is 11 .32 a .m. because we meant to start at that time. How are you doing today? We have on the boards today. Ah, it's me. Drew, we got the truth back. Where's Tim? Tim, I think they're offside at like some manager meeting or something like that. Probably at Applebee's, you know? Okay, yeah, I'm just the talking face, man. I'm just the talking face in the white hoodie. How are we all doing? Davenport's in the house. Alexandra G Studio, 388 Manawak, John Redman, Jay, Arth Vader, great name right there. We also got some junkies in the house. How are we all doing? Ben is in Dubai. We might cover that a little bit on X minute, but I think it's just time for us to get right into MarketWatch. How are we all doing? Crypto is doing okay. It looks like it ballooned a little bit early this morning. If we hit refresh, we're now down 0 .2. Okay, so we flipped into the negative here. 24 -hour volume. Still pretty low coming in at 31 billion. Bitcoin dominance unchanged at 46 .9. Gas might actually be unchanged at 31 Gwei. I think it might have been 31 yesterday if not really, really close. Alright, Bitcoin is now down 0 .5 % along with Ethereum. Let's see, we have BNB down 0 .6%. Nothing's really moving. If we go to finally find something in the single digits, it's Doge. Doge is down a little bit. Polygon is down 2 .2. And then we have our first real gainer of the day. That's TonCoin. TonCoin now up to 16 in coin market cap. I don't recall it being that high that long ago, so they're now up 4 .6%. Keep scrolling. Chainlink peeled back a lot of the gains there, so maybe I could be able to get some cheap Chainlink again. Let's see, we go to the top gainers. Hedera still gaining, still making moves. I think yesterday at this time, it was up 16%. Now, it is up 11%. So really like seeing that pump right there. Flexcoin up 10%. Radix up 6 .8%. And ThorChain, look at that. Weekly folks up 51%. RollBit up 3 .5%. But look at that. Weekly folks up 6 .5 % or 65%. So RollBit having some pretty good gains. Have you been getting any of these major movers lately? I was lucky enough to be in RollBit for months. I saw one person he posted. His last two trades was RollBit and ThorChain. What about you? Any of these major movers? Okay. It says Mike muted. Is your mic muted? Are they trolling you? Oh, no, it was muted. Oh, man. Guys, he just gave you the secret to the universe and gave you KFC's 11 herbs and spices. Secret stuff. But yeah, XDC was the last bump I had, and then I didn't get back in HBAR after its 8 -cent hump that it had previous to what it's got going on right now. Watching HBAR to get back into it, but then also seeing CASPA pull back a little bit. So I'm watching CASPA looking for my entry point. Well, speaking of CASPA, the number one coin in the top 100 that lost value today actually was CASPA. CASPA is down 8 .8%. Pepe is down 6 .3 % and Injective is down 4 .2%. Chainlink down 3 .7%. I was joking about buying some more Chainlink. Guys, I don't have any CASPA. I have zero CASPA. It is now down 20 % for the week. It's now below 4 cents. I said, you know, I like that little support at that, I think it was 3 .9, and now we maybe even potentially going below that. Yeah, it was the high here. So we're below the high here. We're below the high here. Does that mean we have another leg to go down? I'm not going to wait for 2 cents. I might go ahead and start scaling it now now that we're in the 3's there. Let's see. We hit max. It got as high. Yeah, that was just the recent relative high there. How high do you think it can go? There's no price memory. So there's no 2021 level to look at. I mean, I think CASPA is going to be a major mover in this next bull run. I think that DAGs, Constellation DAG and CASPA are going to have their own little narrative driven, you know, season in the market. It's nothing that, you know, I'm necessarily getting married to, like Metagraphs or taking over blockchain or anything like that. You know, a lot of people in this, in the DAG space think that way. I think it's just going to have a good moment of notice and notoriety in the bull run. And all you need is your time to shine and the lights to be on in an actual speculative bull run to really have good moves. So that's why I'm watching that one. Yeah. And we're still a ways away, folks. You know, we could still be two years from the high. We could be two years and two months from the high. I don't think it'd be much higher than 26 months. But guys, we still got a long road ahead of us before we have this blow off topper. Maybe not blow off top, but the top. All right. Well, speaking of... Not going to do that segue. Not going to do that segue. Oh. Let's talk about SBF. Let's get into the main story here. I'm glad I didn't do that segue. U .S. Grand Jury files new seven -count charges against Sam Bankman -Fried, files new seven -count charges. This is a little odd way of saying it, but seven new counts have just been filed against Sammy Boy here. Of course, bail was revoked last week after he leaked private conversations of Caroline Ellison. Also, you know, used the VPN. Judge did not like those actions. Well, the Grand Jury filed a superseding indictment against Sam Bankman -Fried, the founder of FTX. Among the indictment was that he covered, he cornered over $100 million in customer funds for political reasons. Another way of saying that is he used customers' funds to bribe politicians. Sorry, not bribe, to donate, to donate to politicians. It's not bribing, folks. It is not bribing. The Grand Jury argued that SBF knowingly used FTX's investors and customers' funds to enrich himself. It also claimed he sponsored campaign contributions to U .S. political parties to seek to influence cryptocurrency regulation. Now we have the U .S. Criminal Division is charging him with conspiring to commit wired fraud. Notably, the seven -count charge comes after the U .S. court revoked his bail, sending him to jail last week. His bail was revoked after he leaked the diary of Caroline Ellison with the New York Times. Meanwhile, his lawyer has contested the court decision. We looked into that jail. MDC Brooklyn, not a good jail. It is not a good jail where he is at. There's lots of allegations of bugs in the food, plastic in the food, feces everywhere. Just not a great jail that you want to be at. Owen, you don't want to end up there. Is that not the effect of altruism he was looking for? No, no. Wrong kind of cucumber. I mean, he's learning about liquidity pools. There's so many jokes we could say, but let's not go there. Sam Bankman -Fried's dark donations to the GOP came back to haunt him. He was accused of funneling $100 million towards political donations. They said they mostly hid the Republican donations there, but he was charged with seven counts there. He was accused of funneling $100 million towards political donations in the 2022 election cycle. Guys, and that's just the midterm elections. Can you imagine if that was a presidential election? I'm not saying it's a two -to -one, but they probably would have spent more money. Yeah, well, SBF was only outdone by Soros in the presidential election in 2020. It's something that I've been looking at for this entire three years. We're almost into the next election cycle, and this is just now being looked at. That's probably the most aggravating thing. And then the cut of GOP to Dem, of course, he did donate to both sides, but it's very, very weighted towards the blue side where his donations went to, I above 90%. think that number may have been changed a little bit. We're going to see some more details here. Let's get into it. I want to find out more. The indictment said he failed to disclose to the FEC that his donations came from customer deposits via Alameda. He did this by directing Gary Wang to alter FTX's code, which gave Alameda improper access to customer deposits. The court finally read, over time, he directed that Alameda's credit limit be raised so high that in practice, they were permitted to draw on FTX accounts funded by customer assets on an unlimited basis. He was also one of the GOP's largest donators there. Yeah, this is the number I was looking for. Among various donations, he gave $27 million to Protect Our Future PAC, a group advocating for pandemic preparedness. This was 95 % of the $28 million raised by that group, which spent $24 million on Dem House candidates. Other executives made donations in their own names. Ryan Solomay donated, here's the number, Drew, $24 .5 million to Republican candidates through the WinRed platform. So while 90 % might be or 95 % might be SPF's number, when you look at FTX, all their employees, it's a little bit more nuanced than that. But it's still leaning Democrat, but I think roughly around close to a quarter, close to a quarter has gone to Republicans as well. But I found it interesting that he didn't use his own name to donate to Republicans. He used someone else and he hid the salami there. I guess he didn't want to piss off his parents' friends. I was talking about this in the Morning Stream ATB. His parents were California university professors at an elite school hanging out in Palo Alto. How many of those people at their wine and cheese party have a MAGA hat on? Probably not that many. They have appearances to keep up here. Do you own DWAC stock, Truth Social Growing Fast? I did learn that the VEC was a principal investor in rumble. Is he currently still in on rumble? He was basically one of the big funders in the beginning. Rumble's an interesting thing to watch because it's really gaining what seems to be steam. Ahead of this next election cycle, a lot of people have looked for alternative places and platforms other than YouTube. Obviously, YouTube is still the most powerful, but it's seeming to grab a small portion of viewers and its interface is becoming more usable, so it'll be interesting to see if it actually has a play. Who's one of the main people on there? Russell Brand. Shout out to Russell Brand and a shout out to anybody who smokes Jeffries. All right, back to FTX here. FTX exec Salome depleted the fifth about campaign finance schemes. This is a persuasion technique. Campaign finance violation schemes is kind of setting the table before we get there. He plans not to testify at the criminal trial regarding the illegal campaign donations. He said he'll be unavailable to testify as a witness. He's unavailable, the filing states. His attorney has represented that if subpoenaed, he would invoke his Fifth Amendment right against self -incrimination. According to prosecutors, he told a family member in November of 21, which is the month of Bitcoin's high, that Bankman wanted to weed out anti -crypto lawmakers through political donations and that Salome himself would help to distribute. Salome, he's the right hand. Then Bankman, he was the left hand. He's going to go to prison and never mind there. All right, well, what are your thoughts on... Now it's coming out that Republicans got some money too. I mean, I don't think it really changes the narrative. I mean, sure, he's cozy with politicians on the left. I think he's just cozy with regulators and is trying to create a moat. And those who don't know what a moat is, once you're a tech company or any kind of company, say a billion dollars in revenue, you can then make a moat in your industry where if anyone tries to compete against you, they would need billions of dollars and you effectively create a moat from new competition. A good example is, is it the FDA that does drug approval? It's my understanding it can take 10 years and over a billion dollars to launch a drug. So what does that do? It creates a moat for the handful of pharmaceutical companies. And I think we're seeing the same thing here. FTX, he wanted to create a moat and be the only American crypto provider.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Crypto Market Remains Tepid as Broader Economy Holds Its Breath
"This episode of Markets Daily is sponsored by Kraken. It's Tuesday, August 8th, 2023, and this is Markets Daily from Coindesk. George Kaloudis here again with your daily news roundup. On today's show, we're talking Bitcoin, the macro economy, the latest headlines and more. And just a reminder, Coindesk is a news source and does not provide financial advice. Bitcoin and Ether remained little changed over the past 24 hours, another sign of just how tepid the market is. Even the entry of payment giant PayPal into the stablecoin market failed to move the needle in any meaningful way. Both Bitcoin and Ether haven't moved much in price on the day and have had low trading volumes over the past few weeks. Yet another day of Bitcoin and Ether, the stablecoins. Bitcoin is currently trading at $29 ,482, while Ether is trading at $1 ,840 per token, according to the Coindesk market index. And shifting to the traditional markets and the broader economy, there are lots of things happening in the world economy. For one, the world's largest export economy in China has seen its export volume drop big time. Compared with those of a year earlier, China's exports to the U .S. and European Union plunged by more than 20 percent each last month. 20 percent. Geopolitical tensions between the U .S. and China have led to manufacturers from the West reducing their dependence on China. Not to mention, Covid induced supply chain scares have led to companies rationalizing their supply chain strategy. What's more, as the rest of the world faces inflation head on, the latest data shows that China actually could be in for some deflation for an economy that is predicated on explosive growth. If deflation takes hold in China, we could expect some serious stimulus packages. In that vein, China will release monthly inflation data tomorrow. Sticking with China, a headline from the Wall Street Journal reads, Country Garden, China's largest surviving developer, sinks into debt crisis. Country Garden Holdings, a property developer that has been lauded by China's authorities as a model for others, missed interest payments on two U .S. dollar bonds this week, marking a new stage of distress for the country's real estate market. So China is looking at falling exports, a potential deflation crisis and a deteriorating real estate market. Doesn't look so great for one of the world's largest economies. Moving stateside, last week, the U .S.'s credit rating was downgraded by rating agency Fitch. The downgrade was not matched by other rating agencies, else we'd be in a pretty scary place. But another ratings agency, Moody's, did cut the credit ratings of 10 U .S. regional banks. The moves suggest that Moody's believes, as do many, that the U .S. banking sector remains vulnerable. Higher interest rates and a potential recession in 2024 are the biggest threats to the banking industry at large. And lastly, moving underground, oil. Oil prices have ticked up over the last month and are at the highest level in three months. This comes as oil producers in Saudi Arabia and Russia have extended voluntary supply cuts recently as we approach a period of expected oil deficits. There is speculation that crude oil prices will move up as demand increases this summer and supply doesn't follow suit. Cartel economies with artificially controlled supply are fascinating. In any event, there is a lot going on in our macro economy, despite it being the sleepy part of summer. And there's plenty to keep our eyes on going forward. Moving on to the price of things with the indexes in the U .S., the Dow Jones Industrial Average is flat. The S &P 500 is down 0 .2 percent and the Nasdaq Composite lost 0 .6 percent. In Europe, the regional stock 600 and London's FTSE 100 decreased 0 .5 percent. Germany's Stacks, meanwhile, fell 1 .2 percent. In Asia, Hong Kong's Hang Seng Index is down 1 .8 percent. Shanghai Composite lost 0 .3 percent. And Japan's Nikkei 225 added 0 .4 percent. In commodities markets, Brent Crude, that's the international benchmark for oil, is down 1 .9 percent, trading at 84 dollars and 21 cents. Gold is down three quarters of a percentage point, trading at 1960 dollars per troy ounce. And First Republic Bank is trading slightly down at 32 cents per share. Today's traditional market coverage draws from The Wall Street Journal and MarketWatch.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Crypto Market Remains Tepid as Broader Economy Holds Its Breath
"This episode of Markets Daily is sponsored by Kraken. It's Tuesday, August 8th, 2023, and this is Markets Daily from Coindesk. George Kaloudis here again with your daily news roundup. On today's show, we're talking Bitcoin, the macro economy, the latest headlines and more. And just a reminder, Coindesk is a news source and does not provide financial advice. Bitcoin and Ether remained little changed over the past 24 hours, another sign of just how tepid the market is. Even the entry of payment giant PayPal into the stablecoin market failed to move the needle in any meaningful way. Both Bitcoin and Ether haven't moved much in price on the day and have had low trading volumes over the past few weeks. Yet another day of Bitcoin and Ether, the stablecoins. Bitcoin is currently trading at $29 ,482, while Ether is trading at $1 ,840 per token, according to the Coindesk market index. And shifting to the traditional markets and the broader economy, there are lots of things happening in the world economy. For one, the world's largest export economy in China has seen its export volume drop big time. Compared with those of a year earlier, China's exports to the U .S. and European Union plunged by more than 20 percent each last month. 20 percent. Geopolitical tensions between the U .S. and China have led to manufacturers from the West reducing their dependence on China. Not to mention, Covid induced supply chain scares have led to companies rationalizing their supply chain strategy. What's more, as the rest of the world faces inflation head on, the latest data shows that China actually could be in for some deflation for an economy that is predicated on explosive growth. If deflation takes hold in China, we could expect some serious stimulus packages. In that vein, China will release monthly inflation data tomorrow. Sticking with China, a headline from the Wall Street Journal reads, Country Garden, China's largest surviving developer, sinks into debt crisis. Country Garden Holdings, a property developer that has been lauded by China's authorities as a model for others, missed interest payments on two U .S. dollar bonds this week, marking a new stage of distress for the country's real estate market. So China is looking at falling exports, a potential deflation crisis and a deteriorating real estate market. Doesn't look so great for one of the world's largest economies. Moving stateside, last week, the U .S.'s credit rating was downgraded by rating agency Fitch. The downgrade was not matched by other rating agencies, else we'd be in a pretty scary place. But another ratings agency, Moody's, did cut the credit ratings of 10 U .S. regional banks. The moves suggest that Moody's believes, as do many, that the U .S. banking sector remains vulnerable. Higher interest rates and a potential recession in 2024 are the biggest threats to the banking industry at large. And lastly, moving underground, oil. Oil prices have ticked up over the last month and are at the highest level in three months. This comes as oil producers in Saudi Arabia and Russia have extended voluntary supply cuts recently as we approach a period of expected oil deficits. There is speculation that crude oil prices will move up as demand increases this summer and supply doesn't follow suit. Cartel economies with artificially controlled supply are fascinating. In any event, there is a lot going on in our macro economy, despite it being the sleepy part of summer. And there's plenty to keep our eyes on going forward. Moving on to the price of things with the indexes in the U .S., the Dow Jones Industrial Average is flat. The S &P 500 is down 0 .2 percent and the Nasdaq Composite lost 0 .6 percent. In Europe, the regional stock 600 and London's FTSE 100 decreased 0 .5 percent. Germany's Stacks, meanwhile, fell 1 .2 percent. In Asia, Hong Kong's Hang Seng Index is down 1 .8 percent. Shanghai Composite lost 0 .3 percent. And Japan's Nikkei 225 added 0 .4 percent. In commodities markets, Brent Crude, that's the international benchmark for oil, is down 1 .9 percent, trading at 84 dollars and 21 cents. Gold is down three quarters of a percentage point, trading at 1960 dollars per troy ounce. And First Republic Bank is trading slightly down at 32 cents per share. Today's traditional market coverage draws from The Wall Street Journal and MarketWatch.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Crypto Traders Short Volatility; PayPal Announces U.S. Dollar Pegged Stablecoin
"This episode of Markets Daily is sponsored by Kraken. It's Monday, August 7th, 2023, and this is Markets Daily from Coindesk. George Kaloudis here again with your daily news roundup. On today's show, we're talking Bitcoin, the latest headlines and more. And just a reminder, Coindesk is a news source and does not provide financial advice. Bitcoin and Ether are still rock solid. Both have proved remarkably non -volatile in otherwise volatile times. They're basically stablecoins. Bitcoin hasn't risen more than 4 % in a single day since June 21st. The lack of volatility has, of course, sparked market chatter about an impending volatility explosion in Bitcoin. But to that, traders, analysts and market participants remain unconvinced that volatility to the upside will come from anything except the approval of the Spot Bitcoin ETF. And so, yet again, we turn our eyes and ears to the institutions and the Spot Bitcoin ETF for some potential price movement. On the topic of institutions, MicroStrategy, the public company that holds 152 ,000 Bitcoin on its balance sheet, is nearly back in the black with its Bitcoin bet after racking up a paper loss of roughly $1 billion. That is genuinely impressive, given MicroStrategy was buying Bitcoin through the height of the bull market when Bitcoin was around $69 ,000. There were, of course, back then, silly articles and suggestions that MicroStrategy would have to sell its Bitcoin into the open market as the price of Bitcoin fell from its all -time highs, leading to a death spiral in price. But that fear seems to be overblown, at least for now. It's a sleepy, sleepy summer in the markets at the moment. Today's crypto market coverage comes courtesy of Coindesk Markets analyst Lilo Ledesma, and I'm cargoed with Bolle. Bitcoin is currently trading at $29 ,019, while Ether is trading at $1 ,827 per token, according to the Coindesk Market Index. And shifting to the traditional markets in the U .S., the Dow Jones Industrial Average is down 0 .1%, the S &P 500 Law 0 .6%, and the Nasdaq Composite decreased 0 .9%. In Europe, the Regional Stocks 600 added 0 .6%, and London's FTSE 100 in Germany's DAX increased 0 .5%. In Asia, Hong Kong's Hang Seng Index is flat, the Shanghai Composite is down 0 .6%, and Japan's Nikkei 225 increased 0 .2%. In commodities markets, Brent crude, the international benchmark for oil, is up 0 .4%, trading at $85 .80. Gold, meanwhile, is flat at $1 ,975 per troy ounce. First Republic Bank versus trouble is also flat, trading at $0 .33. Today's traditional market coverage draws for MarketWatch. Stay tuned for after the break when we'll take a look at some stablecoin news. Back in a minute. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, may be subject to capital gains tax. And welcome back. Here are some headlines for you. PayPal to issue dollar pegged crypto stablecoin based on Ethereum. Global payments giant PayPal is launching its own U .S. dollar pegged stablecoin, PayPal USD or PYUSD. The Ethereum based token will soon be available to PayPal users in the U .S. and marks the first time a major financial company is issuing its own stablecoin. Users can transfer PYUSD between PayPal and supported external wallets, fund goods and services purchases, or convert any of PayPal supported cryptocurrencies to and from PYUSD. PYUSD will first be made available on PayPal's popular payments app Venmo. Meanwhile, PayPal said it would provide a tested reports of the funds backing the stablecoin in an effort to thwart concerns about unbacked tokens. Elsewhere, WorldCoins Nairobi warehouse raided by Kenyan police, according to local reports. Kenyan police raided the Nairobi warehouse of identity and cryptocurrency protocol WorldCoin on Saturday, confiscating documents and machines. This comes after Kenya's Ministry of the Interior suspended the project's operations in the country last week. The raid was reportedly conducted under the supervision of the Office of the Data Protection Commissioner, who said Tools for Humanity, the parent company of WorldCoin, failed to disclose its true intentions during registration of its operations. Moving on to our last update on CRV. Curve recouped 73 % of hacked funds, bolstering CRV sentiment. Curve Finance, which recently suffered an exploit, has recouped some 73 % of funds stolen during that hack. The hack saw the platform lose over $73 million worth of various tokens, causing contagion effects in the broader ecosystem. Over the past week, all $22 million in Ether and Ether derivatives stolen from lending protocol Alchemax -Fi, which is part of curve, were returned. Still though, over $18 million in stolen funds are still remaining. And on Sunday night, Curve opened up a bounty to the public. The protocol itself added, quote, if the exploiter chooses to return the funds in full, we will not pursue this any further, end quote. So unless something drastic happens, this will likely be the end of this particular CRV saga. Today's stories come courtesy of Coindesk's Shari Amalwa, Amitash Singh, and Aliza Gritski. And that's our show for today. Thank you for listening. For those of you still with us, we'd love to hear what you think. You can email podcasts at coindesk .com with the subject line markets daily. I'm George Kaloudis and this episode was produced and edited by Eleanor Paul with executive production by Jared Schwartz. And just a reminder, Coindesk is a news source and does not provide investment advice. I'll see y 'all tomorrow.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Crypto Traders Short Volatility; PayPal Announces U.S. Dollar Pegged Stablecoin
"This episode of Markets Daily is sponsored by Kraken. It's Monday, August 7th, 2023, and this is Markets Daily from Coindesk. George Kaloudis here again with your daily news roundup. On today's show, we're talking Bitcoin, the latest headlines and more. And just a reminder, Coindesk is a news source and does not provide financial advice. Bitcoin and Ether are still rock solid. Both have proved remarkably non -volatile in otherwise volatile times. They're basically stablecoins. Bitcoin hasn't risen more than 4 % in a single day since June 21st. The lack of volatility has, of course, sparked market chatter about an impending volatility explosion in Bitcoin. But to that, traders, analysts and market participants remain unconvinced that volatility to the upside will come from anything except the approval of the Spot Bitcoin ETF. And so, yet again, we turn our eyes and ears to the institutions and the Spot Bitcoin ETF for some potential price movement. On the topic of institutions, MicroStrategy, the public company that holds 152 ,000 Bitcoin on its balance sheet, is nearly back in the black with its Bitcoin bet after racking up a paper loss of roughly $1 billion. That is genuinely impressive, given MicroStrategy was buying Bitcoin through the height of the bull market when Bitcoin was around $69 ,000. There were, of course, back then, silly articles and suggestions that MicroStrategy would have to sell its Bitcoin into the open market as the price of Bitcoin fell from its all -time highs, leading to a death spiral in price. But that fear seems to be overblown, at least for now. It's a sleepy, sleepy summer in the markets at the moment. Today's crypto market coverage comes courtesy of Coindesk Markets analyst Lilo Ledesma, and I'm cargoed with Bolle. Bitcoin is currently trading at $29 ,019, while Ether is trading at $1 ,827 per token, according to the Coindesk Market Index. And shifting to the traditional markets in the U .S., the Dow Jones Industrial Average is down 0 .1%, the S &P 500 Law 0 .6%, and the Nasdaq Composite decreased 0 .9%. In Europe, the Regional Stocks 600 added 0 .6%, and London's FTSE 100 in Germany's DAX increased 0 .5%. In Asia, Hong Kong's Hang Seng Index is flat, the Shanghai Composite is down 0 .6%, and Japan's Nikkei 225 increased 0 .2%. In commodities markets, Brent crude, the international benchmark for oil, is up 0 .4%, trading at $85 .80. Gold, meanwhile, is flat at $1 ,975 per troy ounce. First Republic Bank versus trouble is also flat, trading at $0 .33. Today's traditional market coverage draws for MarketWatch. Stay tuned for after the break when we'll take a look at some stablecoin news. Back in a minute. Meet the all -new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned, modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, may be subject to capital gains tax. And welcome back. Here are some headlines for you. PayPal to issue dollar pegged crypto stablecoin based on Ethereum. Global payments giant PayPal is launching its own U .S. dollar pegged stablecoin, PayPal USD or PYUSD. The Ethereum based token will soon be available to PayPal users in the U .S. and marks the first time a major financial company is issuing its own stablecoin. Users can transfer PYUSD between PayPal and supported external wallets, fund goods and services purchases, or convert any of PayPal supported cryptocurrencies to and from PYUSD. PYUSD will first be made available on PayPal's popular payments app Venmo. Meanwhile, PayPal said it would provide a tested reports of the funds backing the stablecoin in an effort to thwart concerns about unbacked tokens. Elsewhere, WorldCoins Nairobi warehouse raided by Kenyan police, according to local reports. Kenyan police raided the Nairobi warehouse of identity and cryptocurrency protocol WorldCoin on Saturday, confiscating documents and machines. This comes after Kenya's Ministry of the Interior suspended the project's operations in the country last week. The raid was reportedly conducted under the supervision of the Office of the Data Protection Commissioner, who said Tools for Humanity, the parent company of WorldCoin, failed to disclose its true intentions during registration of its operations. Moving on to our last update on CRV. Curve recouped 73 % of hacked funds, bolstering CRV sentiment. Curve Finance, which recently suffered an exploit, has recouped some 73 % of funds stolen during that hack. The hack saw the platform lose over $73 million worth of various tokens, causing contagion effects in the broader ecosystem. Over the past week, all $22 million in Ether and Ether derivatives stolen from lending protocol Alchemax -Fi, which is part of curve, were returned. Still though, over $18 million in stolen funds are still remaining. And on Sunday night, Curve opened up a bounty to the public. The protocol itself added, quote, if the exploiter chooses to return the funds in full, we will not pursue this any further, end quote. So unless something drastic happens, this will likely be the end of this particular CRV saga. Today's stories come courtesy of Coindesk's Shari Amalwa, Amitash Singh, and Aliza Gritski. And that's our show for today. Thank you for listening. For those of you still with us, we'd love to hear what you think. You can email podcasts at coindesk .com with the subject line markets daily. I'm George Kaloudis and this episode was produced and edited by Eleanor Paul with executive production by Jared Schwartz. And just a reminder, Coindesk is a news source and does not provide investment advice. I'll see y 'all tomorrow.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Markets Steady and Binance Could Face U.S. Department of Justice Fraud Charges
"This episode of Markets Daily is sponsored by Kraken. It's Thursday, August 3rd, 2023, and this is Markets Daily from Coindesk. George Knud is here again for your daily news roundup. On today's show, we're talking Bitcoin, the latest headlines and more. And just a reminder, Coindesk is a news source and does not provide financial advice. Bitcoin and Ether have slipped in the last 24 hours, but they still remain range -bound. If you're just looking at price charts and nothing else, the last month has been a snooze fest for the big cryptocurrencies. With all that is happening in the macro economy, with a not -recession looming, and in the world of DeFi, which in the words of Coindesk's Dan Coon died and we didn't even notice with the behavior around the Curve financial hack, it is quite honestly surprising that the market has done basically nothing for the last month. Still, though, there is some news in the world of the Spot Bitcoin ETF. ETF analysts at Bloomberg Intelligence raised their estimates for the launch of a U .S. Spot Bitcoin exchange -traded fund, or ETF, to 65 percent from 50 percent. The analysts said the SEC's seeming approval of Coinbase's Bitcoin trading platform is one positive indication, and another is SEC Chairman Gary Gensler downplaying his role in a recent interview. The potential approval of the many Spot Bitcoin ETFs is a bullish event waiting on the sidelines. For now, though, the market crickets continue. Bitcoin is currently trading at $29 ,110, while Ether is trading at $1 ,833 per token, according to the Coindesk Market Index. And shifting to the traditional markets, in the U .S., the Dow Industrial Average lost 0 .8 percent, the S &P 500 fell 1 percent, and the NASDAQ Composite decreased 1 .5 percent. In Europe, the regional Stoxx 600 and Mundensfutze 100 lost 0 .9 percent, and Germany's DAX fell 1 .1 percent. In Asia, Hong Kong's Hang Seng Index decreased 0 .5 percent, the Shanghai Composite increased 0 .6 percent, and Japan's Nikkei 225 lost 1 .7 percent. In commodities markets, Brent crude, that's the international benchmark for oil, fell to .65. $83 Gold, meanwhile, fell to $1 ,969 per troy ounce, and First Republic Bank, our regional banking crisis indicator, is basically flat at 32 cents. Today's traditional market coverage draws from MarketWatch. Stay tuned for after the break when we'll take a look at some quick headlines. Back in a minute. Meet the all new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice, some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Markets Steady and Binance Could Face U.S. Department of Justice Fraud Charges
"This episode of Markets Daily is sponsored by Kraken. It's Thursday, August 3rd, 2023, and this is Markets Daily from Coindesk. George Knud is here again for your daily news roundup. On today's show, we're talking Bitcoin, the latest headlines and more. And just a reminder, Coindesk is a news source and does not provide financial advice. Bitcoin and Ether have slipped in the last 24 hours, but they still remain range -bound. If you're just looking at price charts and nothing else, the last month has been a snooze fest for the big cryptocurrencies. With all that is happening in the macro economy, with a not -recession looming, and in the world of DeFi, which in the words of Coindesk's Dan Coon died and we didn't even notice with the behavior around the Curve financial hack, it is quite honestly surprising that the market has done basically nothing for the last month. Still, though, there is some news in the world of the Spot Bitcoin ETF. ETF analysts at Bloomberg Intelligence raised their estimates for the launch of a U .S. Spot Bitcoin exchange -traded fund, or ETF, to 65 percent from 50 percent. The analysts said the SEC's seeming approval of Coinbase's Bitcoin trading platform is one positive indication, and another is SEC Chairman Gary Gensler downplaying his role in a recent interview. The potential approval of the many Spot Bitcoin ETFs is a bullish event waiting on the sidelines. For now, though, the market crickets continue. Bitcoin is currently trading at $29 ,110, while Ether is trading at $1 ,833 per token, according to the Coindesk Market Index. And shifting to the traditional markets, in the U .S., the Dow Industrial Average lost 0 .8 percent, the S &P 500 fell 1 percent, and the NASDAQ Composite decreased 1 .5 percent. In Europe, the regional Stoxx 600 and Mundensfutze 100 lost 0 .9 percent, and Germany's DAX fell 1 .1 percent. In Asia, Hong Kong's Hang Seng Index decreased 0 .5 percent, the Shanghai Composite increased 0 .6 percent, and Japan's Nikkei 225 lost 1 .7 percent. In commodities markets, Brent crude, that's the international benchmark for oil, fell to .65. $83 Gold, meanwhile, fell to $1 ,969 per troy ounce, and First Republic Bank, our regional banking crisis indicator, is basically flat at 32 cents. Today's traditional market coverage draws from MarketWatch. Stay tuned for after the break when we'll take a look at some quick headlines. Back in a minute. Meet the all new Kraken Pro, the powerful, customizable, beautiful way to trade crypto. It's Kraken's most powerful trading platform ever, packed with trading features like advanced order management and analytics tools, all in a redesigned modular trading interface. So head to pro .kraken .com and trade like a pro. Not investment advice, some crypto products and markets are unregulated. The unpredictable nature of the crypto assets market can lead to loss of funds and profits, maybe subject to capital gains tax.
Markets Daily Crypto Roundup
"marketwatch" Discussed on Markets Daily Crypto Roundup
"Excellent. Well, thank you so much, Adam. And shifting over to traditional markets, shares and first republic in several other U.S. regional banks plunged on Monday as investors worried that regulators had not done enough to stem deposit outflows following the collapse of Silicon Valley bank. Comparing against our last markets update on Friday in the U.S., the Dow Jones Industrial Average dropped over half of a percent, while the S&P 500 fell four tenths of a percent. The tech heavy NASDAQ, meanwhile, gained four tenths of a percent. In Europe, stocks were down across the board. The German two year government bond yield suffered the largest drop on record, signifying increased safe haven buying and investors trimming expectations for European Central Bank rate hikes. The regional stock 600 and London's FTSE 100 both dropped 2.4%, while Germany's tax dropped just under 3%. Over in Asia, stocks were mixed, Hong Kong sang sang index gained two tenths of a percent while China Shanghai composite index gained 1.2%. Japan's nikkei two two 5 bucked the trend and fell 1.1%. In commodities markets, Brent crude, the global benchmark for oil, fell 1.2%, trading at $80 and 61 cents per barrel, gold meanwhile, gained 3% over the weekend, training in $1914 per Troy ounce. Today's traditional market coverage draws some coin esque and MarketWatch. And that's our show for today. Thank you very much for listening. If you have any questions or comments, send the show an email at podcast at coin desk dot com or you can email me directly at Adam Levine at coin desk dot com. If you like what we're doing, we always appreciate reviews on Apple podcasts or your preferred listening platform. This episode was produced by Adrian blust and myself with further support from the podcast team over at coindesk dot com. Have a great rest of your day and we'll be back tomorrow with another episode of markets daily.
Bloomberg Radio New York
"marketwatch" Discussed on Bloomberg Radio New York
"Have delivered another blow to downtown areas and shopping malls. They're following Americans to the suburbs, the folks that have left city centers such as San Francisco and Chicago and move to more suburban areas. Bloomberg retail reporter, Olivia rockman. We thought first more with restaurants like sweetgreen and now we're seeing it more so with traditional retail like apparel. Physical stores that are closer to customers also complement retailers ecommerce operations, making returns more convenient. There's also been more of an interest in the more boutique style store where customers can come in and return something and maybe they make another purchase. Reports from some of the first chains to begin the suburban migration suggest it's a winning strategy that will likely continue. We've heard from brands like Macy's and abercrombie that have sort of already started this process that they're pilot programs to move stores into more suburban areas have done well. And so because of that, we think that we'll see more of this in the coming year. Jeff Bellinger, Bloomberg radio. And I'm Susanna Palmer in the Bloomberg newsroom. We continue to watch the fallout from the collapse of Silicon Valley bank, SVB chief executive officer Greg Becker sold $3.6 million worth of company stock under a trading plan, less than two weeks before the firm disclosed to the extensive losses that led to its collapse, regulatory filings show the sale of over 12,000 shares on February 27th, was the first time in more than a year that Becker had sold shares in parent company SVB financial group. He filed the plan that allowed him to sell the shares January 26th. The Biden administration yesterday reacted to the largest failure by our U.S. lender and more than a decade, offering its assurance that the U.S. financial system would weather fallout from the collapse of SVB and the regulators were closely monitoring developments. Treasury secretary Janet Yellen says that she has full confidence in banking regulators to take appropriate actions in response, adding that regulators have effective tools to address the situation. Their recent developments that concern a few banks that I'm monitoring very carefully Yellen spoke during a House ways and means committee hearing yesterday. Fior rattled Wall Street on Friday and stocks tumbled on worries about what's next to break under the weight of rising interest rates following the collapse of SVB. Stocks fell even as the February jobs report helped to show inflation may be cooling off. Some of the biggest drops were in the financial sector. Christopher zook is chief investment officer at CA Z investments. The fed is in a box. They're going to have to raise rates more. They're going to have to do it probably longer. And so as a result, it's going to make it much more difficult for investors to just ignore that. For the week, the S&P 500 fell 4.5%. The Dow was down 4.4% the NASDAQ dropped 4.7% this week. The Biden administration is working to further tighten restrictions on the export of semiconductor manufacturing gear to China. That same to throwing another monkey wrench into China's development of an advanced ship industry. We're hearing the government has briefed U.S. companies about the plan, telling them that it expects to announce the new restrictions as early as next month. Facebook parent met a platforms is planning additional layoffs to be announced in multiple rounds over the coming months. That, according to The Wall Street Journal, citing people familiar with the company. In total, it would be roughly of the same magnitude as the 13% cut to its workforce last year. The report says the new cuts, the first wave of which is expected to be announced next week, are likely to hit non engineering roles, especially hard. The company is also expected to shut down some projects and teams in conjunction with these cuts. Global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. I'm Susanna Palmer. This is Bloomberg. Adopt you. With one of the best savings rates in America, banking with Capital One is the easiest decision in the history of decisions. Even easier than choosing slash to be in your band. The next stop for lead guitar. You're in. Cool
WTOP
"marketwatch" Discussed on WTOP
"I am rolling out for now. As the Warren Ukraine moves into year two, president zelensky is pledging victory this year over Russia, Paul brandis of Dow Jones MarketWatch says there are new concerns. The danger according to some analyses is that Ukraine's use of artillery exceeds western resupply capability. This is something, by the way, that China is watching closely. We are pouring everything we can into helping Ukraine, but at what cost to the defense of American interests elsewhere that is a major concern. The White House and the EU have both recently placed new sanctions on Russia as well. An emergency meeting yesterday by House Democrats to talk about security concerns after House speaker McCarthy handed over more than 40,000 hours of video from the attacks on January 6th to Tucker Carlson and Fox News. There are two big unknowns, was anybody chaperoning this Fox News team as they watched all this video did they log in or log out and were they able to record any of it while they were viewing it? No hard drives were given. It was all viewed in person. Democrats are wondering how much of it might have been recorded or kept. Scott McFarland of CBS News reporting there Tucker Carlson's team is expected to have been pouring through the footage this week and then reveal it to his viewers. Supreme Court Justice clarence Thomas has written about his struggles with student loans, but that may not impact his ruling and a challenge to a White House debt relief program that goes before the high court Tuesday. In his memoir, my grandfather's son, Supreme Court Justice clarence Thomas writes that a friend suggested declaring bankruptcy to get out from under the crushing weight of all my student loans. Thomas rejected that idea. And as the staunchest conservative on the court, he's expected to oppose The White House effort to relieve $20,000 in outstanding student loans. Of the 7 justices on the court who are parents, the investment records of four showed that they have piled money into tax free college savings accounts. Well, you may be noticing more security around synagogues and Jewish community centers today. Montgomery county, Arlington, D.C., and fairfax county have all announced plans to monitor and increase security at religious institutions after a call for a national day of hate the nationwide extremist campaign is being denounced by the anti defamation league. Police in our area until WTO, they are not aware of any credible threats at this time. People came together to remember the life of a young reporter killed on duty in Florida this week. A candlelight vigil was held Friday night at the university of Central Florida
WTOP
"marketwatch" Discussed on WTOP
"Rolling out for now. As the war in Ukraine moves into year two, president zelensky is pledging victory over Russia. But Paul brandis of Dow Jones MarketWatch says there are some new concerns. The danger according to some analyses is that Ukraine's use of artillery exceeds western resupply capability. This is something, by the way, that China is watching closely. We are pouring everything we can and helping Ukraine, but at what cost to the defense of American interests elsewhere that is a major concern. The White House and the EU, both recently placed new sanctions on Russia as well. An emergency meeting yesterday by House Democrats to talk about security concerns after House speaker McCarthy handed over more than 40,000 hours of video from the attacks on January 6th to conservative commentator Tucker Carlson. There are two big unknowns, was anybody chaperoning this Fox News team as they watched all this video did they log in or log out and were they able to record any of it while they were viewing it? No hard drives were given. It was all viewed in person. Democrats are wondering is how much of it might have been recorded or kept. Scott mcfarlane of CBS News reporting there, Tucker Carlson's team is expected to have been pouring through the footage this week, and then reveal it to his viewers. Supreme Court Justice clarence Thomas has written about his struggles with student loans, but that may not impact his ruling in a challenge to a White House debt relief program that goes before the high court Tuesday. In his memoir, my grandfather's son, Supreme Court Justice clarence Thomas writes that a friend suggested declaring bankruptcy to get out from under the crushing weight of all my student loans Thomas rejected that idea. And as the staunchest conservative on the court, he's expected to oppose The White House effort to relieve $20,000 in outstanding student loans. Of the 7 justices on the court who are parents. The investment records of four show that they have piled money into tax free, college savings accounts. While you may be noticing more security around synagogues and Jewish community centers today, police Montgomery county Arlington D.C. and fairfax county have all announced plans to monitor and increase security at religious institutions after a call for a national day of hate. The nationwide extremist campaign is being denounced by the anti defamation league. Police in the area tell WTO P, they are not aware of any credible threats at this time. Well, they came together to remember the life of a young reporter killed on duty in Florida this week. A candlelight vigil was held Friday night at the university of Central Florida to
WTOP
"marketwatch" Discussed on WTOP
"Good morning, I'm Anne Kramer Acacia James is our producer and the top stories we're following for you this morning. Ukraine's president vowed yesterday to do everything to defeat Russia this year. CBS Willie James inman tells us more help is coming to Ukraine. The U.S. announced a new $2 billion security assistance package. That includes more ammunition and small high-tech drones, as well as another round of sanctions on Russian companies, banks, and people. For more immediate help, Poland delivered the first batch of German made leopard tanks. While Russia's ally, China called for a ceasefire and laid out a 12 point peace plan. Zelensky was receptive to Beijing's possible diplomatic role in city eventually plans on meeting with China's president. As we mentioned, it's officially a year two of the war in Ukraine, the Biden administration pledging more military aid, Paul brandis of Dow Jones MarketWatch says there were some new concerns in this second year of the war. The danger according to some analyses is that Ukraine's use of artillery exceeds western resupply capability. This is something, by the way, that China is watching closely. We are pouring everything we can to help think Ukraine, but at what cost to the defense of American interests elsewhere that is a major concern. The White House and the EU have both recently placed new sanctions on Russia as well. Meantime, there is a silent toll being taken on the millions of Ukrainians impacted by the war now going into its second year as we've said. Axios reporter Lauren Whitney got rath tells us the World Health Organization estimates nearly 10 million of them may be suffering from mental health issues. One hope sort of coming out of this is that it's okay to seek help. And I think that's what the government is trying to tell people in Ukraine and all of these other organizations that are working on this issue are sort of trying to let me know as well that it's okay and there is support. Ukraine's health ministry has launched new initiatives to bolster mental health support, including integrating mental health services into the country's primary healthcare system. There's flooding, blizzards and avalanches as a powerful winter storm slams California today. The add in some of the coldest temperatures in that area as well early running lows dropping below freezing in some areas while downtown San Francisco could see record breaking cold temperatures today. National weather service forecast temperatures there as low as 38°. There are flash flood warnings issued earlier south of there
Bloomberg Radio New York
"marketwatch" Discussed on Bloomberg Radio New York
"Hit again and stocks too. You're absolutely right and I think that's where you have to begin Brian with yields across the treasury curve spiking today. We actually reached new highs for the year. I think it's fair to say that Marco are now convinced that the fed is nowhere near at the end of its tightening cycle. We'll get minutes from the last fed meeting they are due tomorrow. Today, markets ramped up the expectation for rate hikes may be another three, 25 basis point rate hikes between now and June, so 75 basis points in total. Look at the yield on the two year, we were up about ten basis points today. That's a pretty good move to four 72, the ten year adding 13 basis points to three 95. And then you look at what those higher rates did for stocks. A lot of trouble, and on top of that, we had the leading retailers Walmart and Home Depot with dire outlooks will have more on that momentarily. But the sell off in equities engulfed every major group within the S&P 500. Over 90% of the members within the S&P were down today. We had the industrial average giving back a little bit of ground, not the big decline that we were looking for earlier, but we were off 2% nonetheless, S&P down a similar amount and the NASDAQ comp off about two and a half percent. The dollar interestingly halting two days of weakness, we had the Bloomberg dollar spot index rising about three tenths of 1%. The yen much weaker here were just on the strong side of one 35, we also Brian have a weaker offshore Chinese currency. Yeah, it's a really interesting environment here. Let's take a closer look at what could be driving a lot of it. Traders will be looking to Wednesday's fed minutes for clues on the Central Bank's rate hiking path. Let's get that story from Bloomberg's Michael McKee. The surprise is gone now that the presidents of the Cleveland and St. Louis fed banks have said they saw a case for a half percentage point increase at the February 1st meeting. If there were a significant number of others who felt the same way, that could influence views of the fed's next move given the strong data we've seen since then. Moreover, at his post meeting news conference, fed chair Jay Powell teased a discussion on the path forward for rates that we'd learn about when the minutes were released. What might have been said about how high rates will need to go, how fast, and for how long. A lot of that will depend on how fed officials felt about the prospects for inflation, another discussion to watch in the minutes. Michael McKee Bloomberg daybreak Asia, so on to the big retailers we begin with Walmart, the company reported sales and profit above expectations for the last quarter. Shoppers appeared to flock to those stores during the holiday season to take advantage of Walmart's low prices even so the retail giant warned of tougher times ahead Walmart is now forecasting a second straight decline in annual profit. Here is the company's chief financial officer John David Rainey. You're seeing that our value proposition is certainly resonating with consumers right now. But there's a lot of macro uncertainty. Again, as we, as we look across the consumers across the globe, but certainly here in the U.S., balance sheets are getting thinner, you're seeing savings rates decline, and we really haven't been in a position where we've seen the fed tighten at this rate. And so as we look forward and give guidance for the full year, we're adopting a cautious outlook and we want to make sure that we're responsive to whatever environment that we're going to find ourselves. John David Rainey there, the CFO of Walmart, the news wasn't a lot better for Home Depot, the home improvement retailer is now forecasting a profit decline for the full year. The company cited uncertainty, tied to those higher interest rates, now Home Depot said that could keep Americans from moving and renovating their homes, Brian. Companies in China and around the world have been warned that they will be punished by the U.S. if they keep doing business with Russia. That story from Bloomberg's and Kate. The Treasury Department says the cost of violating the Biden administration's sanctions against Moscow will be steep, and that corporations and banks risk being cut off from the U.S. and its partners financial systems, a year after Vladimir Putin invaded Ukraine, the sanctions have had a devastating impact on Russia's gas exports and imports of high-tech goods, but they have yet to seriously diminish Putin's ability to wage war in Washington and Kate's Bloomberg daybreak Asia. The big tech firms in China appear to be on the verge of a price war. We have that story from Bloomberg's Ivan man. China's Internet and ecommerce firms are beefing up efforts to outdo each other. Media reports suggested JD.com was planning a $1.5 billion subsidy campaign to compete against ping dual door, elsewhere, NetEase and mi hoyo are upping their battle against gaming leader Tencent. As competition rises, concerns over margins grow in equity investors have taken notice. JD and pink door door fell ten to 11% in New York and Alibaba was down nearly 5%. The selling helped push the NASDAQ golden dragon China index down 2.9%. In Hong Kong, I'm Yvonne Mann, Bloomberg, daybreak Asia. Microsoft is promising that Call of Duty will not be collateral damage as it tries to get approval for its planned purchase of Activision Blizzard. The story from Bloomberg's Denise Pellegrini. Britain's antitrust watchdog has suggested Microsoft agreed to divest Call of Duty to deflect criticism that buying its owner Activision would stifle competition, but Call of Duty is one of the most lucrative game franchises in the world and speaking after a European Union hearing, Microsoft president Brad Smith said, no way. We don't see a viable path to sell off the part of this company Activision Blizzard that makes Call of Duty. Microsoft did manage to flying two more opponents of the merger today. It cut deals sharing Call of Duty with Nintendo and also Nvidia's GeForce. In addition to the antitrust concerns in Europe, here in the U.S., the FTC has already sued to block Microsoft $69 billion deal. Denise Pellegrini Bloomberg day vacation. I'm Brian Curtis along with Doug christner and Rashad salaman will join us in a few moments. Now it's time for global news. U.S. president Joe Biden marking the one year anniversary of Russia's invasion in Ukraine by saying that Vladimir Putin will never find victory. That Baxter has global news in the 9
Bloomberg Radio New York
"marketwatch" Discussed on Bloomberg Radio New York
"This is Bloomberg, daybreak Europe. So let's go to the markets then where European shares are down 6 tenths of 1% only energy stocks are seeing any gains on the U.S. stock 600 this morning. You've seen the likes of Adidas with big declines because of their warning around earnings Adidas down by ten and a half close to 11% this morning. Stop futures then for the U.S. in this kind of risk off environment are also lower two tenths almost three tenths of 1% for the NASDAQ futures. The surprise name in the ring for BOJ governor has sent the Japanese yen soaring. It's come down a little bit, but it's still up by two tens of 1%. Bit of a dollar spot index is flat and the other big story is do we get 6% fed rates, big yield curve inversion in the U.S., the biggest since the 80s, 360 eight for ten year yields up by two basis points this morning. Okay, let's bring you the details in our top stories of that Japan story then the yen surging as Caroline was saying, although pairing some of those gains, the reports that the government will nominate kazuo ueda as the bank of Japan governor to succeed haruhiko Corona. His Bloomberg's kazunori takada with more detail on ueda's background. He served as one of the board members on the bank of Japan from 1998 to 2005. That was when the BOJ first embarked on negative rates and quantitative easing. So he was a board member then when the bank took those actions, he's also known for voting against lifting of negative rights back when he was on the board. Kazunori takata says government, the Japanese government had initially approached the bank of Japan, deputy governor masayoshi amamiya to take on the role. However, the Nike reports that he refused the role. We have an update now coming through from NHK, the Japanese broadcaster. So this is a report from them saying that kazuo ueda, who, again, according to reports in the Nike has been asked and has accepted to be the next bank of Japan governor is saying that it is an important to keep bank of Japan easing for now and of course that seems to contrast then with the views at least at the start of this session that maybe this was a more hawkish nomination. Again, reporting that the nominee, the reported nominee, pushing back against that hawkish interpretation, at least by saying that it's important to keep the BOJ easing for now. Again, the bankers fan pursuing this extraordinary easing policy with something called yield curve control to continue buying bonds and keep rates low. Yeah, although Ada has declined to comment on those reports around whether he is actually the pick for BOJ governor or not. So that's quite interesting. Again, NHK reporting that lied. Well, let's move on, talk about the UK GDP was unchanged in the last three months of 2022, after a revision to the previous three months of two tenths of 1% down. However, the cost of living crisis and industrial action hit the UK economy hard in December without declining half of 1% in the last month of the year. Now, professor Steven millard, whose deputy director at the National Institute of economic and social research, Nisa says that 2023 will be a tough year for many. And the key points I think I'd like to make is that although we're not forecasting a recession as such, life is certainly not going to be great for a large number of households. We're not expecting the economy to grow that much at all. So that was Nisa there talking about the expectation for 2023. The chance to Jeremy hunt welcomed the figures this morning but noted that the government needs to bear down on inflation. Okay, so a corporate story now added as shares have fallen sharply after the firm said it may report an operating loss of €700 million this year. That as it deals with the fallout from its dispute with rapper Ye formerly known as Kanye West, the German sportswear maker is warning of the losses. If it has to write off all of its existing yeezy inventory after its lucrative partnership ended in October, the company's new CEO says the business is not currently performing the way it should. And a bit of a business of sports news now just to wrap things up British billionaire Jim ratcliffe is said to have lined up banks including Goldman Sachs to bankroll a bid to buy Manchester United sources through the banks are prepared to fund a takeover offer for the English football club with bonds and loans. So that in terms of man united
Bloomberg Radio New York
"marketwatch" Discussed on Bloomberg Radio New York
"The Japanese equity market where the nikkei is down 7 tenths of 1%. Some of this may be tied to relative strength in the Japanese currency where the dollar is concerned, the yen right now at one 38 75 against the greenback, given a little bit of dollar weakness at the moment, but what was exactly the opposite during New York trading where the dollar rallied. Now, some of that may have been tied to a lot of uncertainty around these COVID situation in China, which will be unpacking momentarily here on daybreak, Asia. Also a number of fed officials during the U.S. session stressing the need for more rate hikes as a result we had yields rising slightly at the long end of the treasury curve a ten year now at 360 nine, which is about a basis point higher than we were in the New York session. And a higher yields one of the factors that contributing to weakness in the U.S. equity market, although volume stateside was about 20% below the 20 day average and that can exaggerate some of the price movement. We had the major benchmarks in the U.S. each down by roughly one half of 1%, a size shares in the Tokyo session down nearly 10%, the most since July 2021, the company and its U.S. partner Biogen is suffering really on a report of a second death potentially linked to the company's groundbreaking experimental drug for Alzheimer's. If you look at what's happening in the crude oil market right now, WTI is down about a half of 1%. We popped in New York trading on the view that OPEC plus will consider deeper cuts to output given the faltering crude oil market. We'll be talking about the oil space as well as we continue here on daybreak, Asia, Brian. All right, Dan, thanks very much, Doug. Let's get to that fed commentary, which you alluded to. New York fed president John Williams said there is still more work to be done to get inflation down. He thinks interest rates are heading somewhat higher than he had forecast a few months ago. And we also heard comments a few moments ago from Richmond fed president Thomas barkin. Now our foot is off the gas. I think we're now on the break, real rates are positive across the curve. And when you're driving, you have your foot in the brake, you just drive a little more deliberately, maybe you pump the brakes. You just take a little more caution. And so I'm very supportive of a path that is slower, probably longer and potentially higher than where we were before that. Richmond fed president Thomas barkin in an exclusive interview right here on Bloomberg radio and television. In the meantime, St. Louis fed chief Jim bullard said that markets are underpricing the chance of higher rates. He said that the fed should raise rates to at least 5% to meet its goal of being restrictive enough to stamp out inflation. And Cleveland fed chief Loretta master told the Financial Times that the fed was not near a pause in its rate hiking campaign. And by the way, fed officials will be gathering for their final meeting of the year on December 13th. Well, turmoil at Apple's key manufacturing hub of zhengzhou is likely to resolve in an iPhone production shortfall, we're told the deficit will be close to 6 million iPhone pro units. Apple shares were down about 2.6% following the news, and that marked the biggest one day drop in more than two weeks. We heard earlier from Wedbush's Dan Ives. It's been a gut punch in the most important quarter of the most important period for cooking Cupertino, going into holidays. The clock struck midnight, finally apple is seeing what's really the hurt in terms of production in China. We think it could be 6 to 8 million units. And the situation remains fluid at the zhengzhou plant much will depend on how quickly Foxconn can get workers back to assembly lines after violent protests against COVID restrictions. If lockdowns do continue in the weeks ahead, production could be set even further back. Coming up in a few moments we'll be speaking with Katrina L, senior economist at moody's analytics. Time now for global news
Living to 100 Club
"marketwatch" Discussed on Living to 100 Club
"As these other. Sure. So what are your recommendations? What is, well, it gets into social advocacy and kind of raising our awareness, raising our consciousness about the capabilities of seniors and living on to our 70s, 80s, 90s. So what are some of the steps that we can take to shift this view? I mean, we see it. What can we do? Sure. Well, I like to focus on one part of senior advocacy. And that is understanding that all individuals are entitled to self determination as they age. And where they live. So this includes being empowered with choice, dignity, respect, and living with purpose throughout all your stages of life. So we should have control and the knowledge to decide how we'd like to live through our extended years. So we can all kind of agree on that. But when it comes down to actually doing that, that's when things kind of get a little messed up. So self determination can be violated if an action is taken may be by a family member in their quote unquote best interest of the older adult maybe an older parent without taking their desires into consideration. And this is really common occurrence when maybe an older adult wants to age in place in their home, but the family doesn't feel it's safe. So it's really important to work together to find the best solution. The family members need to listen to the older adult and find out options that are compatible as possible. So, you know, in the end, if the older adult is competent, the final decision should be their choice. And you know, this can be an unpopular opinion, but life is about making risky, uncertain choices, and just as some of you send your children off to make their own choices at 18, knowing they might not always choose the best, safest path, you know, this should also apply to older adults and not end once a person reaches a certain age. So without choice, you can quickly lose your sense of purpose and your quality of life. I have example of one of my friends calling, you know, my father keeps climbing the ladder. How do I get him to stop? It's not safe. He's going to risk for falls. You know, he, I think he was a painter. And I'm like, listen, you know, all you can do is voice your concerns, help create a safe space, you know, talk to him about it. Maybe a way that you both can feel comfortable. And in the end, you know, it should be his choice. I really like that at first, but she understood. Yeah. So you're aging, it's aging with dignity. And feeling empowered to make one's decisions, you know, being treated as a competent human being, making decisions together about your care, and this can really be achieved once we understand all the different aspects of the aging process of a positive and negative. Yeah, so respecting the person's right to make his or her own decisions, allowing them the freedom to make those decisions. And as you say, we can express our opinion. Here's my argument. Here's why I don't think you should be driving anymore. And the person says, well, it was just a mistake. I couldn't find the car. So yeah, you look for some compromises. And frankly, you know, I had someone on my program just a couple of weeks ago. She was talking about a family often make the decisions for their parent. Or sibling. And when the older adult goes along with it, my guest said, well, that's another example of ageism. We're letting other people make our decisions for us, even though we there might be reasons for that. But it's up to us too as an older adult to dig our heels in and not be so willing to yield. I mean, we want to listen to reason, of course, and other arguments. But we should view ourselves as still being capable and still having a degree of functional performance and a lot of that. So it's our own shift too, right? It's our own attitude about aging, staying independent, as independent as possible. Exactly. And that goes back to yourself perceptions of these ageist views of even yourself. And how ingrained it is. And you know, nowadays there are so many wonderful resources out there that can help you through all these different situations, even starting a conversation. How to do that. You know, it's difficult. And people are at different stages and lives. So just knowing that there's ways to work through it, and people that you can connect with, that can help you in those situations. Yeah, I'm an aging in place as one of the big ones, right? Because most of us want to live in our own homes and we don't want to go to a sister living facility, but at the same time, we have to look at what are the risks and what are the options, what are the opportunities? And you're right, this conversation is indispensable. We really need to have it because when we put it off, then we're making crisis mode decisions. And they're usually not the right ones because we're acting just on impulse off the cuff. And we need to think through what the options are and take the plans and preparation to say, okay, down the road, if and when such and such happens, here's what we consider. Yeah. Okay. I can see that. Yeah. Yeah, it is a lot about educating and staying informed ourselves and making informed decisions. And letting our family members know, look, I respect your opinion, I respect your desire to keep me off the ladder or keep me out of the car, but here's where I am. And these conversations are indispensable, as I said. Well, tell us about senior life stores. What do you do? What's the mission of this organization? What
Bloomberg Radio New York
"marketwatch" Discussed on Bloomberg Radio New York
"So in the markets this morning MSCI Asia Pacific index is up four tenths of 1% Chinese tech stocks down after the recent rally, 3100 futures also down half of 1%. S&P 500 Emily features down two tenths. So that's the broad picture in stocks. As for the bond markets, treasury yields are heading higher, Ozzy and kiwi government bonds also gained more than ten basis points this morning. And we've got really crucially for the UK very heavy bond supplies, so that has led to higher yields in the UK. Let's see what happens later on this morning, but a big dollar spot index is actually little changes up about a tenth of 1% after the recent declines in the dollar, but those are the markets right now, Stephen. Our top stories this morning, Joe Biden and the Democrats face an uphill climb to retain control of both chambers of Congress in today's midterm elections, the Republicans are solid favorites to take the house and have at least a 50 50 chance for the Senate. Speaking at a rally on Monday, President Biden said the country's democratic integrity is on the ballot. We know in our bones that our democracy is at risk and we know that this is your moment to defend it, preserve or protect the choose it. And I want you to know, we'll meet this moment. Remember, the power in America lies where it always does, in your hands, the hands of the people. President Biden says he intends to run for reelection and will announce a final decision after the midterms. Meanwhile, his predecessor, Donald Trump says he'll make a big announcement next week, all but confirming a widely anticipated White House run. We'll be going live to the United States get more in the midterm elections in just a moment, but firstly, Elon Musk is telling his more than 100 million Twitter followers to vote Republican in the U.S. midterm elections, the Twitter owner says that he recommends a Republican Congress to balance a democratic presidency. Bruce daisley, who is a former vice president of Twitter, told us here on Bloomberg radio that the best move for the billionaire now would be to put his phone down. He's conducted himself in a slightly crass way and I think one of the challenges he's going to find is that he needs to bring some comment stability. I would say if he brings in a tech veteran to run it, saying they've got full autonomy, that would be one of the ways to steady the ship. But the next thing you need to do is just to reign in his own, his own unpredictability, really. He just needs to try and stay off the platform and a suspect some of the people who invested in the product with him will be advising him the same. Well, daisy left the tech giant in 2020 and says that there aren't really any credible alternatives to the Musk owned platform will bring you more of that interview later on this hour. South Africa is spearheading a new plan at the cop 27 climate summit to shift from coal to green energy, the 8 and a half $1 billion proposal backed by the European Union United States and the UK would help middle income nations to move away from the dirtiest fossil fuel. Meanwhile, prime minister Rishi sunak has promised more overseas climate investment by the UK in the coming years. We will now triple our funding on adaptation to 1.5 billion pounds by 2025. I profoundly believe it is the right thing to do. Soon access Britain is already delivering on its existing commitment of 11.6 billion pounds, including investing money in green projects in Kenya, Egypt and other nations. Meanwhile, the EU commission has signaled that it does not see a price cap on imported natural gas as the best tool to rein in the unprecedented energy crisis. The European Union's executive arm is instead suggesting a plan to spread the soaring costs over time, while the analysis was criticized by countries including Italy and Belgium, who have been calling for a price cap. It was endorsed by the likes of the Netherlands and Germany. EU energy ministers are scheduled to meet later this month to try and iron out a deal. UK boardrooms are increasingly frustrated with London's institutional investors and the proxy agencies that guide them. That's according to a new survey of FTSE 100 shares, Bloomberg is doing parts as the details. The survey of FTSE 100 shares found that many say their companies are spending too much time on governance and regulation instead of running their businesses. PR firm token communication spoke to high profile bosses including Mark Tucker of HSBC and Stuart rose of asda, whose quotations were anonymized one chair likened ESG reporting to the wild west due to differing standards and a lack of clarity. In London, I'm in parts Bloomberg day by Europe. Okay, those are our top stories this morning. That is some fascinating detail in that survey as well of a FTSE 100 shares that I think currently saw a couple of them. Yeah, well, they were anonymized quotes on this survey of FTSE 100 bosses. Which was from a PR firm, but it was nonetheless fascinating. There is no surprise that the UK market has become something of a backwater was one quote that stood out to me. Anyway, we can put some of those ideas to some of our guests later on. Our wonderful Adam Higgins of coots and co makes of that. Also, let's talk about the U.S. midterms because that's also very, very interesting. So you've got 435 seats in the House that are up for grabs. 35 seats in the Senate. I don't know if you've been following it closely, but of course, the main issue is the economy inflation we know about those. They're really worrying. Americans, gas prices, although they've come down a little bit. Also roe V wade, but also the ongoing idea of the kind of allegations around election fraud and even intimidation. That has become a real issue. Religious fervor, too, in terms of the people running from it seems like another extremely divisive election in the U.S.. I've been actually looking at the turnout figures because 2018 the midtown turnout was the highest since 1914, so that was to be interesting to see how that plays into because as politics gets more divisive as it drawing people to the polls are people voting more or are they going to turn away from it because 2018 stood out because there were particularly high number of young people of women that voted, so how will that change when it comes to 2022 and how much has changed in politics since then and whether or not voters are turned on or turned off by? The answer to that may be not very much if this big announcement from Donald Trump is that he's running again he's 76, you basically and Joe Biden probably is going to run again for the president and he's so again you could have two elderly white men running for the U.S. presidency and they're both actually unpopular amongst Americans according to the polling. Yes, well that is let's get more on this story and we speak to Bloomberg's Madison mills his live in Miami forest, this morning, good morning, good night. I suppose to you Madison, thanks so much for being with us on Bloomberg radio. What are the key races to watch then when polls close later? Yeah, it
Mark Levin
MarketWatch: Hedge-Fund Giant Elliott Warns of Global Collapse
"Hedge fund giant Elliott warns looming hyperinflation could lead to global societal collapse By end visca Patel Want to hear this That's two depressing No we got to hear it Investors should not assume they have seen everything That's executives at leading hedge fund firm Elliott management corporation Warning that the world is heading towards the worst financial crisis since World War II In a letter sent to investors and reportedly seen by the Financial Times The Florida headquartered firm told clients it believes the global economy is an extremely challenging situation That could lead to hyperinflation This is from MarketWatch which is a reputable news site The firm led by billionaire Paul singer and Jonathan Pollack told its clients that investors should not assume they've seen everything because they've been through the peaks and the troughs of the 1987 crash the dot com boom and bust the 2008 global financial crisis and previous bear and bull markets
The Dan Bongino Show
MarketWatch: 40% of Households Will Pay No Federal Income Tax This Year
"Here's the article I was talking about Market watch Andrew Kershaw kesner 40% of households will pay no federal income tax this year That's 72.5 million So 72.5 million households will pay nothing in federal income taxes I want to be specific They're still paying an obviously State taxes and sales taxes and payroll taxes in many cases But the largest chunk of taxes most people are going to pay our federal income taxes Now do you see why we have this growing illusion in this company or delusion I should say that government is free and at no cost to you I mean it's no wonder why people consistently vote for bigger more expansive government in their lives despite the fact that besides picking up your garbage and an occasional visit maybe from the police if you had a burglar in your house the government does almost nothing for you Nothing Well they pay my social security Yeah they're just because they're taking it from someone else It's not an investment system folks It's a pay go system Well I paid Yeah you paid someone else too The problem is a lot of people paid you and fewer people are going to pay us later Gosh that sounds like a Ponzi scheme That's because it is
Mark Levin
MarketWatch: Inflation Puts Pressure on Families With Young Children
"Market watch this won't receive the headlines and the follow-up And the endless stories that I remember when Ronald Reagan came into office It's ridiculous inflation puts pressure on families with the young children who are struggling to keep up with the weekly food Bill And in many of these areas that this article and others talk about not articles but people are represented by Democrats who voted to put their constituents in this position This is what people need to understand Inflation as they say hurts the poorest the most But this inflation is so staggering It's raging It's hurting everybody And again I want to be able to tell you and I told you we have stagflation that's what we have and after stagflation comes depression And if this keeps up if we don't turn on our energy spigots if we don't turn back government spending and get it under control we're going to have a depression Then everything's up for grabs That's what history tells us And it's not that long ago It's 90 years ago It's not a thousand 2003 years 30,000 years ago It's 90 years ago That's it And the same ideologues are in charge today who are in charge back then
Bloomberg Radio New York
"marketwatch" Discussed on Bloomberg Radio New York
"Rabbid Sam Jonathan farrow futures down a third of 1% on the S&P TK. This move in the long bond in the UK, we're down 53 basis points on a UK ten year. Let's go back 30 years right now. You talk about a 30 year bond, John, this goes back to 1992, what John Major faced with a fractured United Kingdom, but it is global as well. I love love love with the great Cameron Christ, just published moments ago at Bloomberg, mister Christ says this was necessary, but probably not sufficient. John, that out of the textbooks about fits the moment. The thank you of England announcing a guilt market operation coming in and buying long bonds, Tommen are limited manner for a limited time. It begs the question what the next policy shift is here to obviously big rate hikes expected from the Bank of England. And the central banks blinked, does the government. I'm going to call it Wimbledon. They talked in tennis ball over the net to the government who will have to see what the trust government does here, John, you're way more familiar with this than any of us are, but this is the independence of a Central Bank, and now what for a government that affected what many call reaganomics too. Still and get Lacey picked up on this quickly. One O 6 53 had the initial pop, then we snapped back lower. We're negative three quarters of 1%. A lack of conviction that the Bank of England will actually follow through on tighter policy to counteract loose or fiscal policy. This really raises an issue, though, because if you end up with, let's say, a hundred basis point rate hike by the Bank of England, right? Then basically they're pushing and pulling at the same time. They're going to be trying to lower rates on the long end while still hiking rates in the short end. And basically tying themselves into knots, which raises the question, what happens when market pricing is inconvenient? Do you just squelch it? Has that become the new policy? A policies in conflict, domestically in the UK, it's in conflict goblin globally around the world between the Federal Reserve, the Bank of England and the ECB and the BOJ Lisa in a big, big way. And that's the reason why you have these pressure points that are coming out and unpredictable and followed away. Like the treasury sell off that we saw accelerate yesterday, hitting that 4% level for the first time going back two decades almost. The idea here in the U.S. of what happens when Japan tries to control its currency, and then that's to sell treasuries. In order to do that, I mean, this is a confusing and very volatile market. Stunning now down 1%. One zero 6 27. Guy chance is going to be joining us shortly looking forward to that. Right now, here's your rapid markets. We're down a third of 1% on the S&P, we're off the lows of the session. We run change briefly and snap lower again on the NASDAQ with down 8 tenths of 1%. Yields turning around in a monster way in the UK in the U.S. as well briefly. We were through 4%. Now we're back down to 92 and 90. Yields are lower by a couple of basis points there. Euro dollar still 95 66, still some weakness there too, Lisa, you're a dollar negative, a third of 1%. And we haven't even talked about Nord stream one and the potential sabotage that we heard accused of yesterday. We will get to that eventually. So with all of this, we have the room with flames and we have the Bank of England sipping on its tea as Tom put out there. As John put out there, I should say. And so today perhaps it's the fire. The fed speakers. They've continued to come out and give some conversation about where they're thinking and perhaps how they view the overseas turmoil. Atlanta fed president Raphael bostic, St. Louis fed president James bullard, fed chair Jay Powell, fed governor Michelle Bowman. Richard Richmond fed president Thomas barkin. I can't even get it out there just so many of them. It's just like Chicago for a president. Charlie Evans, who's next, right? I mean, the parade of people coming out, what can they say at a time when they have to fight inflation and their policies are exacerbating turmoil that is erupting around the world. We also get today potentially a meeting between British Chancellor quasi quartan and Wall Street executives. We talked about what potentially could be rumored to be discussed, but this meeting will occur reportedly with Bank of America, Citigroup, JPMorgan, and Morgan Stanley. What's the message? How do you involve people in a market that is doing its own thing when they say the market will do what they do? And then they come out in the other side and they're trying to engage with some sort of policy that relies on market pricing that relies in inflationary inputs like the value of a currency. And at 1 p.m., really important to watch John, the U.S. is selling 7 year debt. And these auctions have been messy. There was one messy auction after another. Is this enough yield to get people involved? Is there enough conviction at a time when you get whipsawing yields at levels that we have not seen before a volatility? Is there enough conviction to come in and buy with yields north of 4% on a 7 year? You get slapped around by bond market volatility at the moment you touch this stuff, which is contributed to the nervousness around these issues. I'm sure Lisa, thank you. Guy Johnson in the City of London wasn't expected to start his day this early. He joins us right now, guy usually on TV and radio a little bit later. Guy, let's start here in a moment where we expected the Bank of England to step up and rate hikes. They're buying bonds. Guy makes sense of it all for us. I'm struggling to see what this is fixed John other than sorting out the pension funds. This is a real struggle to see what has actually been achieved here. So as you've been pointing out, at least it's been pointing out the pound is down. We're now trading on the cable rate of one O 5 91. If you take a look at two, three, 5 year swaps, which is what mortgages are priced off. They've barely budged. So the impact into the mortgage market is not changing here. So the pension funds which carry long duration debt are the ones that are going to benefit from this. But even there, we're only back to where we were at the beginning of yesterday, John. So yes, we are getting a monster move. But it comes on the other side of a symmetrical move that we've seen. So that chart says it all, look at what look at what is happening here. Actually, that's just the two year. But what we're seeing here is basically just a reversal from yesterday's position. And it's incredible to watch. The currency is down. John, this is so let's just run through the mechanics of this briefly if we can. Wow. This is an FPC decision, not an NPC decision. Effectively, it's a recommendation. So this is stability financial stability that they're effectively trying to deal with here. So it's not a monetary decision, which comes later. That's all we need to talk about in terms of the rate hikes. Tom
Bloomberg Radio New York
"marketwatch" Discussed on Bloomberg Radio New York
"Bloomberg quick take This is a Bloomberg business lash And I'm Karen Moscow and the S&P 500 is little change the NASDAQ is lower weighed down by big tech names after some disappointing corporate earnings We check the markets every 15 minutes throughout the trading day On Bloomberg the S&P again that'll change at 45 49 The Dow Jones Industrial Average up three towns percent or a 108 points at 35,712 and then Aztec is down half percent or 71 points at 15,143 ten year treasury at 8 30 seconds He had 1.67% They yield on the two year .45% Nymex screwed oil up 1.2% or 99 cents at $83 49 cents a barrel Comics gold is up 1.4% or 25.3 at 1807 20 announce The Euro on .1643 against the dollar at the end of one 13.80 watching snap down more than 23% after it issued a warning on ad to spending and yet dragging down its peers and of course you said you'll be talking more about this on Bloomberg surveillance but watching Facebook gets down more than 5% at Google owner alphabet is also lower down more than 3% Pinterest being dragged down about four and a half percent and Twitter is down almost 4% And as a Bloomberg business flash Tom and Paul Karen thinks so much You're going to the Bloomberg right now Kaylee Lyons teaching me about the Bloomberg today Yeah She's just a genius Apple up Yep The power of Cupertino discuss with our next guest expert Like all this mumbo jumbo folks where we go what We have to all we know is we have to buy more AirPods to get lost Right Okay mind deep is like actually adult about the ad thing The ad thing And the power of Apple apple is all over the place And I think they're disrupting a little bit the operations of some of these social media companies snap last night had some weaker than expected numbers weaker guidance Let's bring in mandeep Singh He's Bloomberg intelligence covers all this tech stuff for us All right mandeep the company cited snap sighted okay we've got supply chains that may be some of our advertisers aren't advertising I guess I kind of buy that But they also cited Apple and some changes apple is making about whether you and I and everybody else wants to see ads on some of these websites and apps Talk to us about what's going on there Well so clearly you know the IDSA changes that Apple made are having an impact and the market underestimated that What are those changes Well so what Apple is in allowing any more is tracking off users outside the app So SnapChat in this case can track user activity outside its own app And previously that was the default setting Now you have to opt into it And most of the people aren't opting into it So that is reducing the add effectiveness Basically the asset users are seeing on targeted very well And some of the advertisers are pulling back now because they attributed it to supply chain issues And whatnot But yeah that is the crux of it So the identifier for advertisers IDF a if I spent 42 hours a day on a Red Sox blog site they used to be able to know that but now they don't know it Absolutely Tom In fact not only SnapChat Facebook was able to track it all social media apps were tracking what you were doing outside their app So now they can do it with apple's changes Facebook can do it across Facebook and Instagram and WhatsApp because it is the parent of all these apps But since SnapChat just has one app it can track you know it doesn't have that family option that Facebook has All right so this sounds like a big big deal for me because I think about the valuation proposition that all these tech advertise digital advertising platforms said is hey we know more about your customers than fox or ABC or NBC or The New York Times because we track them all over the place This is a fundamental change How big of a long-term impact could this have on digital advertising Mandy Absolutely I think the ad effectiveness goes down for all of these players more so the smaller ones like the snap Twitter and Pinterest Google and Facebook won't get as affected because like I said they have a family of apps and they can track user activity across those apps The big winner could be Apple I mean guess what Right now they're at Apple's ad revenues around 2 billion We are thinking it could easily surpass $5 billion if they start showing more ads in the Apple news feed and also in the App Store.
The Takeaway
"marketwatch" Discussed on The Takeaway
"I think that the past year and a half has brought a lot of issues to light about the way that we live and supply chain and how we treat workers has definitely been things that has a. I think impacted some consumers over the past year. We've seen combined with kobe issues with climate change. That have come up. And that's also impacting the types of choices that people are making. And when you're making these kinds of choices under the pressure of a supply chain that's being stretched thin. You might find yourself thinking well. Do i need to eat this. Do i need to buy this. What sort of habits do people develop over the past year and which ones are going to be sticky as they say which ones are going to stick around wants things you eventually get back to normal and what's going to revert back to pre cova consumption habit. Listen i have a seven year old. She was actually asking philosophical questions about the age of santa claus the other day. Even though it's july can you help with parents out and tell us how this might affect the holiday supply chain so toys unfortunately for for your daughter toys r. might be an issue this year so The supply chain is also Really time sensitive for a lot of categories and so while we may not be thinking of christmas in july a lot of companies already are under normal circumstances and so with the supply chain still Having its issues and challenges of we're already seeing from analysts that toys could be an issue. The holiday season the time line has been thrown off by the pandemic and I'm sure that there is a big scramble. Happening to keep those challenges and those disruptions to a minimum tanya garcia news editor and consumer retail reporter at marketwatch. Thank you so much for joining us this morning. thank you. This is laurence fishburne as dr larabee. The heart warming family phil from two thousand six akilah and the be spelled krista digitization i'm sorry sir but this girl is only eleven and she has already won. Mr welsh what does this press did digitization can you spell it. A pig narcotic st adding on g eighteen at all press to digitization back in two thousand six..
hopnology: Hop Growing and Brewing for Craft Beer
"marketwatch" Discussed on hopnology: Hop Growing and Brewing for Craft Beer
"My heart. Hurt a toke and declaw with tito's topper pizza and a true crime. Show that yet. Yeah what what happened. What's wrong with these young people when young people and so that was kind of the. I don't know why the articles ended with that. But i just. I saw that went. Aw man that not not not good not good. so that. so that's the state of the market in a in a nutshell there again. This is a lot more to it. You can read it if you want to. But we read it so you don't have to read it. And by the way bruce association. Get your paper copies out at a decent speed. I used to get that paper. Copy the day of the online release. And now it's like i still don't have my paper copy of this one. I like my paper. Because i'm old. I can put on my reading glasses. Get out my highlighter. So there was an with whether with your pies actually sit there with mine. You're smoking jacket or your your your leather elbow patched jacket. You're smoking exactly how i do it. It's like you've got cameras in my house which yeah anyway. We won't go there. I didn't think there so there was another very short article that i wanted to bring up here That i didn't tell you. I was going to bring up because i thought it was interesting with a lot of other stuff going on and it was just a you know. They've got all kinds of people on staff at at the ba and they have legal people and there was an article titled warning against marketing. Beer with health and wellness cues and. I thought this was so interesting. There's a there's a current case going on i think it's an indiana against molson coors specifically at their vizi hard seltzer because they claim that it has antioxidant properties accident vitamin c yes. I saw that. I talked about that day where i saw it on a bill. I call on and the they got into. It was very short like a one pager in the middle of the issue in between other stuff going on but it came from two consumer groups. That was the center for science in the public interest and the consumer federation of america. I know nothing either one of these consumer groups. But they're you know they're saying that it's misleading. They're trying to promote an alcoholic beverage as a healthy trink which cracks me up. And it's probably the kind of thing that's going to end up getting dismissed but it's still gonna cost molson coors a ton of money to defend it and deal with it and of course negative negative pr. That goes along with it. But i just thought it was so interesting and you see that more and more on anything with fruit in it from a from a beer or a seltzer or a cider perspective..
hopnology: Hop Growing and Brewing for Craft Beer
"marketwatch" Discussed on hopnology: Hop Growing and Brewing for Craft Beer
"Chump i. I'm assuming that trump is this brewer. And that you're gonna you know. Put some light around this okay. So yes with an f. No of the button. Yes he's correct ish if there's no other form of pasteurization occurring however i would say that at the let's say five percent alcohol concentration that might be in want as opposed to two point four or lower that alcohol concentration isn't high enough to prevent microbial contamination. Otherwise we wouldn't see bad beer on shelves in stores. Okay i think. I think the there's a sliver of truth in there because he's probably thinking. Yeah while less alcohol means you know it's is more likely to have microbial contamination because all culinary to kill him off. No I i i call bullshit on that but the the fact that does lower alcohol concentration in a liquid allow for more microbial proliferation. Yes it does. In this case. I would say that if you have to be worried about microbial contamination between two and a half percent and five percent alcohol. You have brewing problems. You've got serious problems in your house. Because that level of contamination Is going to cause bad things to happen in near beer regardless of your alcohol concentration unless you're doing imperials So yeah i call bullshit on.
hopnology: Hop Growing and Brewing for Craft Beer
"marketwatch" Discussed on hopnology: Hop Growing and Brewing for Craft Beer
"Reason planning already you. Didn't you didn't stop right. The there's the second the second brewery in my town opened in april of two thousand twenty six or eight months later than they had planned to but they weren't gonna not open that point. What they they open. They had curbside pickup. And you couldn't have a beer and per it actually give them more time to get the inside working. I suppose they. I think they probably went live sooner than they would have. Because like you know what as long as we got the beer and it's only got to pick up window we can continue working on the actual taproom. There's no one's coming in here for at least six months so let's you know wasn't a drive thru but it might as well have been. It was a drive up situation right so so tap. Room's again didn't you had a flat volume year-over-year but again a fuzzy numbers there and then you're microbrews. Were down about twelve percent and regionals down about nine percent. So you know quite a downgrade from i think last year we were up overall. Something like like eight or ten percent. So it's a huge dip. But an understandable one of it was less about demand and more about being able to to distribute hands. So i want to talk about the regionals for a bit. Because i think that they have an interesting dynamic in what happened here and it's something that i told you before. You mentioned that they really did. All there was a comment from from one brewery odor. Who said when you go into a store with your mask on your topic. You're not shopping. You're going to pivot towards the tried and true and grab it and get out. And i think there's a lot to be said for that that you we talked before about my ridiculous shopping trips in the kansas. I saw you go in you get what you need. Get a lot of it in you leave. So it wasn't so much the regional breweries but the distributors. They reduce their skews. They tried to make this as easy on themselves as possible and they went to their larger accounts which were the regionals and they said okay. What can i get in volume. And what can i get it. All as we're watching toilet paper disappear and whatever else as like. Oh you put before you run out of that. I want them. We didn't know imagined there have been you know a a corona shortage during all this time. Oh my god that i mean. I mean disaster. So distributors did this. They kind of backed off on on on distributing at the same time as these tiny little craft brewers. Were trying to start up distribution. You had your large distributors. That were saying nope. I'm sticking with the guys i know..
hopnology: Hop Growing and Brewing for Craft Beer
"marketwatch" Discussed on hopnology: Hop Growing and Brewing for Craft Beer
"Of all the assistance. They've been getting and all of the pantry. Stocking people have been doing in. Go back to normal. Are these breweries. That started relying on new ways of distribution. That may be are not going to be as profitable anymore because people are back out and about again not entry stocking. They're not getting extra funding. They're getting the paycheck protection anymore. Are we going to see more closings in twenty one as a result of of folks trying just too hard to keep things afloat and twenty and not having those resources anymore. So that's a question. I think that it requires you to pivot back it again right so you pivot every time. There's a change in your system so you you pivot to evolve and to sustain what's going on given the the the stimulus stimuli around you so i'm saying okay. Yeah you had to pivot to get through the pandemic. You put a new normal in place. Now it's changing again so therefore you will pivot again if you pivot back to what you were doing exactly before. You're losing an opportunity to to adjust to address. What is new now right. So what what worked. Before quote worked in the cases some of these breweries that may end up closing due to the fact. They're not getting handout anymore. Pige shouldn't be back to that pivot to something new because what was working before wasn't working very true and you're absolutely right. Their delivery being one example so they started allowing delivery here in connecticut. Are these tap. room's that had. I'll say a desperate need geared people's hands and they had time on their hands to a degree because they didn't have anyone to serve in the taproom they were doing delivery runs. Are they gonna continue doing that now. I mean it's a nice service but is it really necessary for their business model anymore. I'm going to say probably not probably not so things like that are gonna change the. That's not that's something you do one you.
Airplane Geeks Podcast
Learjet, the private plane synonymous with the jet-set, nears end of runway
"Very well. Kick it off with an item from cnn says learjet once the goto private plane for celebrities is ending production. How their jetty courses owned by bombard. Aa they say that they will stop production later. This year bombarded said that they will concentrate on the challenger and global aircraft which are more profitable but The company's gotta interesting history David started in one thousand nine hundred sixty two by bill. Lear and i think entry into service was nineteen sixty three for the longest time. It was the ultimate status symbol. Business jet i mean it. It's been shows up in song. Like carly simon song and it was flown by the stars and it looked good. I mean it. it's kind of. It's kind of unfortunate that we're going to lose an aircraft that looked fast and and represented the elite all those years but it. It's been around a long time. Originally goes back to a company that lear formed called swiss american aircraft corporation located in in switzerland but that That didn't last too long and were were moved but i understand that the first learjet was actually adapted from a nineteen fifties swiss ground attack fighter. Aircraft the ffa p sixteen so. I wasn't aware that origin till a little bit of research today. It's a class of aircraft that most as this article points out that most people don't want it's holds five to seven And it you know anybody who wants a fast business jet once more people so there. We're talking about globals and challengers so I guess it's just it's time has come on for and just unfortunate 'cause it's always been one of my favorite aircraft up including my nineteen seventy-two matchbox sky busters earlier jet bright little yellow and white body. So they will be missed. So i'm sure they'll be flying around for a long time well. And there's another factor as well to and you're talking about the five to six place said jet market and that is that the non three hundred of which they've sold about five hundred now is lower price so i think they just got Undercut by the competition also the fbi non one hundred which is even less expensive. So that's part of the changing market Now we've talked on the show years about the restructuring of bombay and they've been selling off in a low performing units. They've had a huge amount of debt to pay down. Which is why they've been selling them off. We talked here about when they sold the series their airliner which was sold off to airbus. And this is going to be Job cuts all over the place in a separate article. I saw that. I think about three hundred people will lose their jobs in wichita allow the production is based another arrest. Seven hundred i think are being lost in either quebec or ontario of because there's some being lost in both provinces i forget which one was the most but one was seven hundred and the other was a one hundred so big impact All the way around it does really make party a instead of the cult conglomerate that it was with all kinds of different things including a railcar business very much a single business entity and we've talked in the past how feel a lot of the business jet companies. They've gotten multiple businesses Textron's a great example And so this is really gonna make them highly subject to the you know the ups and downs of the market and fortunately the markets in an upturn business jets are selling well but boy. This'll be a real challenge for them. The future i think when there's a downturn in the market bill. Lear william powell. Lear was also an interesting guy course. he's He died longtime ago in one thousand. Nine hundred seventy eight. So it's been it's been quite a while and we've mentioned before that he actually invented the eight track Which many of our Younger listeners are not gonna know what that is. Tell us what is that. Because i don't know what an eight track is. I had one of those In my truck. Back in the let's see would have been in the Early seventies but he was a self taught engineer. But you know what. I didn't realize is that he was actually a call. Your trophy winner. But not for the learjet. Do you know what he won the collier trophy for david. No i didn't know he won a collier trophy. He did for the f. five autopilot. The autopilot was for the lear jet. Not for an f five. That was a test david. You passed double checking very good man. So yeah now bombarded says that they're going to continue to to support the aircraft ecorse encouraging and really to be expected But yeah it's kind of sad to see an old name like that disappear all right we have From marketwatch archer aviation gets one billion dollar order from united airlines on the same day announces. A deal to go public Max united airlines united is getting interested in vitale aircraft.
WTOP 24 Hour News
How the live music industry is adapting to the pandemic
"Don't live concert sector has taken it on the chin during the pandemic. So how is the industry shifting to meet the needs of music lovers unfortunate to be able to do online concerts. We've been able to spend more time writing collaborating over, you know, platforms like this. Harvey Mason Jr is interim president and CEO of the record. Industry, which hosts the Grammys, and he tells MarketWatch they were going to be really creative on how we move forward how we do concerts. Virtually there's now driving concerts and things like that other Benson safety bubbles that have been prepared where the smaller groups of people being able to come together and then use and he's optimistic. Ongoing tech innovation will help connect performers and fans. Music is something that really It's Suze. It's medicine. It's also an expression outlets. I think finding ways for music and tech to come together is very important, I think is happening more now than ever. Brennan Hazleton w. T o P News 11
WTOP 24 Hour News
Apple's changes to its App Store could hamper some game-streaming services
"Apple revised its APP store guidelines today ahead of the release of IOS 14, the latest version of the iPhone operating system, Microsoft and Facebook of complained publicly in recent months that Apple's rules restrict with their gaming APS Khun do on iPhones and ipads. MARKETWATCH reports. The changes announced by Apple today could hamper game streaming
Business Wars Daily
Why a California Ruling Against Uber and Lyft Could Have a National Impact
"New legislation could put the brakes on the GIG economy last Monday a California Superior Court judge ruled that rideshare companies Uber and Lyft must reclassify drivers from independent contractors to employees. The companies are appealing that decision but if the ruling stands Uber and lift would have to add thousands of drivers to their payrolls and offer them benefits like healthcare paid sick leave vacation the companies say the additional cost would jeopardize their businesses. The ruling is the result of California's a B five law a b five, which took effect in January. It was the first of a series of labor bills that have cropped up around the country in states like. New York New Jersey Illinois and others, and there's a proposed federal version to the laws are well intentioned ms classified workers are a big problem. Nationwide some companies pay fulltime workers as independent contractors to avoid the cost of payroll taxes, health insurance, sick leave, or vacation time so-called ten, ninety, nine workers named for the irs form businesses file to report the income they paid aren't covered by most labor laws. So these workers don't get minimum wage overtime, medical leave or other protections but how do you determine which category you fall into a b five uses the so-called ABC. Test to determine whether an individual is an independent contractor or employee. Basically if the company controls most of how you work or provide your equipment or office, you're an employee, and if you work in the company's quote primary business like say being a driver for a ride share company urine employees to. But pushback on ABC test legislation strong critics like the US Chamber of Commerce say the test is antiquated. It was developed in the nineteen thirties when people were offices or factories. The ABC test also doesn't consider the increase in freelance and independent work that technology has enabled as result. The vague language could also apply to workers like freelance writers, musicians, and even lawyers who work independently and from task rabbit to Insta- cart virtually no GIG worker platform would be spared from the laws. There's another issue too many people choose to work as independent contractors and GIG workers. They like being their own bosses they can turn down work when they feel like it take medications when they want to and create their own dress code try doing that with typical employer for Uber and live. The ruling is just the latest batch of bad news. Both companies have been struggling during the pandemic people are staying home more. So they need fewer rights, which means the rideshare companies need drivers in. February Uber announced that it would lay off roughly thirty five. Hundred employees. The workers got the news during a zoom call according to Forbes. Oh, the irony in April lift laid off about one thousand employees and furloughed about three hundred more even Uber's news. The expansion of its food delivery Business Uber eats isn't all that great as food deliveries have grown uber eats has surged more than double the size of Obama's ride business but overeat still isn't profitable. Uber is attempting to boost its margins through consolidation according to a Yahoo Finance report last year it acquired food delivery company post meets to bolster its delivery business. Last Wednesday. Both companies announced that the California ruling could force them to suspend operations in the Golden State at least for a few months, California makes up more than ten percent of each company's gross bookings marketwatch reports. That revenue loss would be yet another speed bump for the rideshare companies during an already rocky year for now uber and left we'll wait for the results of their appeal. Hoping another judge will shift gears on the ruling.
The Joe Piscopo Morning
Visa: 13 million Latin Americans made first-ever online purchases in March quarter
"Related shutdowns have pushed more people to buy things online for the first time visa says all mind spending for the month of April was up eighteen percent in Latin America thirteen million visa card holders may be E. commerce purchases for the first time ever during the recent quarter that's about two of every ten active visa card holders in the region visit chief product officer Jack for still tells marketwatch the company seeing a massive acceleration toward E. commerce these is also predicting more customers will be switching to new cards that allow you to touch to pay and for still says the company's created a special dispute monitoring programs to help resolve issues when card payments get reversed
Business Wars Daily
Banks are Cutting Their Risk By Cutting Your Credit Card Limits
"On this Wednesday may twentieth. Hey have you applied for a new credit card in the last couple of months if so and if you've had trouble getting approved well you're in good company? Given all the financial uncertainty were experiencing right. Now banks are nervous so they're making it much tougher to qualify for new cards to avoid taking on customers. Who may not be able to pay their bills. According to the Saint Louis Federal Reserve forty percent of. Us Bank say. They're getting choosier about who they lend money to. Where that's issuing credit cards or personal loans? That's the biggest pull back in lending since two thousand nine. According to see net among the biggest lenders to play defense this way discover financial services apply for a discover card. And you'll find the company verifying your employment not just your credit score and if you are approved your credit limit may well be less than you'd hope for on recent earnings called discover CEO. Roger Hawks Trial said the company's taking these and other steps to quote curtail risk to put it more plainly discover and other financial institutions. WanNa make sure they don't get saddled with too much. Unpaid debt pre pandemic discover had been growing steadily and profitably twenty. Nineteen was a good year and the company was expecting twenty twenty to be even better instead. Discover lost about sixty million dollars in the first quarter of this year and its future like the future of so many other businesses is clearly uncertain which is to say things may not be any easier at the other major credit card companies both city and capital. One say they are also tightening up credit requirements C net reports. Okay so maybe you can't get a new card and you haven't seen one of those zero balanced transfer offers that to flood your mailbox in months but that's not all. Some companies are reducing credit limits for existing customers. It's happening a lot one out of four American credit card users. That's fifty million. People have had their credit limits slashed on at least one card in the previous thirty days some have even had an account closed. That's according to a survey by compare cards a service owned by lending tree. Those changes are hitting Gen Z. Millennials and Gen xers equally according to see net. Apparently baby boomers are being spared so far. This is a tough thing to have happened. If you've just lost your job or you expect to and it often comes as a rather ugly surprise credit cards dot com analysts had rosman told Marketwatch. Most people don't realize how much freedom credit card issuers have to cut limits or even cancel cards without warning companies that acknowledged they're assessing credit limits. Include Wells Fargo. Us Bank in American Express and American Express spokesperson told Marketwatch that the company is based in credit limits on quote real time. Evaluations of a person's financial help so too is synchrony financial which issue store credit cards including JC Penney. Gap and American Eagle outfitters discovers. Roger Hawks child however is expressly said the company is not slashing credit limits or closing inactive accounts given the millions of Americans who are now jobless hawks trial call those actions challenging according to Bloomberg. Pulling away credit. When they need it most can have tremendously adverse impacts hawks trial set indeed. Many people rely on credit cards as emergency funds in April about a month into lockdowns about forty seven percent of Americans had credit card debt. That's up four points from March. According to a survey by CREDIT CARDS DOT COM and having your credit limit reduced or a card cancelled can hurt your credit score. Even as news rolls out about the new challenges of getting and keeping credit banks are also enrolling people in programs intended to help almost half a million discover account holders signed up for its skip a payment program. Those account holders have balances of more than three and a half billion dollars altogether. Yes you heard that right. Billion WITH A B. Other issuers are also