China's recent advancements in AI, chip manufacturing, and robotics are causing significant disruptions in US financial markets and creating divisions among US tech leaders and within the Trump administration regarding how to respond to the competitive threat, leading to actions like the FCC banning Chinese humanoid robots.
US markets surged, with the Dow crossing 53,000 for the first time, driven by chip stock rebounds. Meanwhile, FIFA rejected Belgium's challenge to US striker Folarin Balogun's eligibility, a decision supported by Donald Trump. Alibaba also banned AI tools citing security risks.
A council report indicates Asian markets drove gold price rebounds in H1, while US markets caused pullbacks. Despite a recent drop from record highs, gold is expected to show upside potential in H2 2024, influenced by factors like geopolitical risks and local currency weakness in Asia.
Elon Musk's SpaceX IPO has sparked widespread concern among Americans about their retirement savings being tied to AI-driven companies. Many fear market instability, widening inequality, and a lack of accountability from tech giants.
The CFTC has approved KalshiEX to list a Bitcoin perpetual futures contract (BTCPERP), marking a significant step for crypto derivatives in regulated US markets. This move could change how retail and institutional traders access leveraged Bitcoin exposure, bringing a popular crypto financial tool into the US regulatory framework.
SpaceX's historic IPO on Friday saw its stock debut at $150, valuing the company at over two trillion dollars and surpassing Meta. The Dow Jones, S&P 500, and Nasdaq all closed higher, while new developments in Iran pushed oil prices down.
SpaceX to list on Nasdaq with $75B IPO, valuing the company at nearly $1.8T, surpassing Tesla and Meta, with potential to make Elon Musk a trillionaire.
US consumer inflation surged 0.5% in May, reaching its fastest pace in three years, driven by soaring oil prices and higher energy costs. This puts pressure on the Federal Reserve ahead of its policy meeting.
Remy Cointreau reported a sharp fall in annual profit to €78.7 million, but exceeded analyst expectations. The company's shares rose 12% on the Paris stock exchange following the announcement of a three-year turnaround plan aimed at boosting growth and efficiency.
US markets are buoyed by strong corporate earnings and a stable labor market, overshadowing geopolitical tensions. However, unpredictable political rhetoric and rising oil prices present risks, especially for India.
Canada will become the first non-European nation to attend the European Political Community summit in Yerevan. The meeting focuses on strengthening Armenia's ties with Europe and navigating geopolitical shifts, including US policy changes and Armenia's distancing from Russia.
Bitcoin traded near $76,600 after failing to sustain a push toward $78,000. While the asset initially resisted rising crude oil prices, the opening of US equity markets triggered a pullback, highlighting the ongoing tension between crypto-specific demand and broader macro risks.
Bitcoin fell 2.86% from its intraday high near $79,500, settling around $77,480 as the S&P 500 gapped lower and risk appetite weakened. The analysis attributes the pullback to profit-taking after a rally from mid-$74,000s, combined with reduced risk exposure as equities softened. Oil remains elevated around $93.96, continuing to influence inflation, yields, and Fed cut expectations. Key support lies at $76,400-$77,500, with $8.07 billion in BTC options expiring April 24 and max pain around $71,500-$72,000.
Bitcoin bulls avoided a correction as US markets opened, but analysis warned that Strategy was responsible for much of the latest BTC price strength.
