ADDX Go Morning Market Wrap- 2024 Sep 30
Market Key Focus
Equities: Chinese markets experienced their strongest week in 16 years, surging by 15.7%.
Crypto: Bitget wallet introduces 'OmniConnect,' a software development kit facilitating the linkage of Telegram Mini-Apps to Solana, TON, and EVM-Compatible Chains.
US Treasury Bonds: The Treasury yield curve displays a bullish steepening trend.
FX: The Japanese yen sees a surge as Ishiba secures nomination as ruling party leader.
Gold: After reaching a record high of $2,672 in the previous session, gold prices dipped by 0.53% to approximately $2,658 on Friday as investors seized profits.
U.S. Oil: Oil prices experienced a 4% decline last week due to developments in Libya and Saudi Arabia easing OPEC+ restrictions.
Smart Money Tracking
ARKK Investment Holdings Update:
- Increased Tesla holdings by 8,454 shares, a 0.25% increase from the previous period, now accounting for 15.47% of total holdings.
- Reduced Palantir Technologies Inc. holdings by 44,983 shares, a 0.62% decrease from the previous period, now accounting for 4.67% of total holdings.
- Increased Roku Inc. holdings by 20,214 shares, a 0.25% increase from the previous period, now accounting for 10.66% of total holdings.
Stocks to Focus
- Spotify restores service after a brief Sunday outage.
- Misinformation running rampant on Meta has officials concerned about election disruptions.
- Major CVS shareholder plans activist push, will meet with management, sources say.
- Inside Domino's quest to revive sales with 'emergency pizza'.
Market events
U.S. Chicago PMI in September
Previous: 46.1
Forecast: 46.3
U.S. Dallas Fed Business Activity Index in September
Previous: -9.7
Forecast: –
Macros
- Key Fed inflation gauge at 2.2% in August, lower than expected
- Swiss central bank cuts rates by a quarter point in third trim this year.
Earnings
Before Open: Carnival
US Equities
The S&P 500 closed down 7.2 points, or 0.13%, at 5,738.17.
The Dow Jones Industrial Average, closely related to the economic cycle, closed up 137.89 points, or 0.33%, at 42,313.
The Nasdaq, dominated by tech stocks, closed up 137.89 points, or 0.6%, at 18,199.59.
The Nasdaq 100 closed down 0.53%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed down 106.91 points.
The Russell 2000 Index, more sensitive to the economic cycle, closed up 0.67%.
The VIX index of fear closed down 10.34% at 16.96.
Crypto Market Insight
Binance Founder Changpeng ‘CZ’ Zhao Is a Free Man
Mango Markets Agrees to Destroy MNGO Tokens in SEC Settlement
Bitget Wallet's 'OmniConnect' Expands Telegram Mini-Apps Beyond TON
Celestia's TIA Posts Biggest Monthly Gain This Year Even as Impending $1.13B Token Unlock Spurs Hedging
Bitcoin Prices Show Positive 30-Day Correlation With China's Central Bank Balance Sheet