Stock Markets
Wall Street ends lower after two-day rally
Wall Street stocks followed European and Asian bourses lower. Wall Street indices didn’t continue the rally and closed lower on Wednesday after the release of the statistics, which showed a strong demand for labor force in the US, due to which the Federal Reserve might keep the interest rates at a high level for a longer period.
Why does Wall Street end lower?
Fed officials are pushing to aggressively tighten policy to fight inflation, which the market fears could lead to a sharp slowdown and a possible recession.
Private employers stepped up hiring in September, ADP data showed Wednesday. The statistics indicate that labor demand is still strong despite rising rates and tighter financial conditions.
The Fed is expected to raise borrowing costs by 75 basis points for the fourth time in a row at its Nov. 1-2 meeting, according to rate futures prices, data from the CME FedWatch tool showed.
Earlier, we reported that Wall Street’s top bulls listed reasons for the U.S. stock market rally.
New York, New York–(Newsfile Corp. – December 28, 2024) – Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Riot Platforms, Inc. (NASDAQ: NASDAQ:) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.
If you are a long-term RIOT stockholder please contact Justin Kuehn, Esq. here, by email at justin@kuehn.law, or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
For additional information, please visit Shareholder Derivative Litigation – Kuehn Law.
Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235430
New York, New York–(Newsfile Corp. – December 28, 2024) – Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Krystal Biotech , Inc. (NASDAQ: NASDAQ:) breached their fiduciary duties to shareholders. The investigation concerns potential self-dealing. Shareholders may be entitled to damages and corporate governance reforms.
If you are a long-term KRYS stockholder please contact Justin Kuehn, Esq. here, by email at justin@kuehn.law, or call (833) 672-0814. The consultation and case are free with no obligation to you. Kuehn Law pays all case costs and does not charge its investor clients. Shareholders should contact the firm immediately as there may be limited time to enforce your rights.
Why Your Participation Matters:
As a shareholder your voice matters, and by getting involved, you contribute to the integrity and fairness of the financial markets. Your investment. Your voice. Your future.™
For additional information, please visit Shareholder Derivative Litigation – Kuehn Law.
Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235429
U.Today – American ETP issuer ProShares has made another decisive move to expand its ETF products suite. The asset manager has applied to list three new Bitcoin-linked ETF products, with stock market native products as reserves. These filings come amid growing consideration of more leniency in U.S. SEC approvals next year with a new Chairman set to take office.
ProShares Bitcoin ETF filings
Per an update from ETF Store President Nate Geraci, the three filings from ProShares include the S&P 500 Bitcoin ETF, the Nasdaq-100 Bitcoin ETF and the Gold Bitcoin ETF, respectively.
Nate Geraci states these products are long in the underlying stocks or gold. These would now feature a short USD and long Bitcoin position using offerings. The dual-faced model of these new ETFs made him call the prospective offerings “BTC hedged ETFs.”
Since spot Bitcoin and ETF products secured approval from the U.S. SEC, there has been no slowing down in the number of filings.
While the number of crypto ETFs like , Hedera, and ETF products has grown, asset managers are also intensifying how these offerings target traditional finance products more closely.
Geraci aptly observed that “Bitcoin is starting to eat tradfi.”
Year of crypto Wall Street takeover
The timing of the current filing has triggered commentary from market experts on how unrelenting ETF issuers are in driving more reach for the product. Beyond the $5,500 Ethereum price forecast from Galaxy Digital (TSX:), the firm also issued a major ETF adoption prediction.
As noted, at least one big asset manager will allocate 2% of its Assets Under Management (AuM) to Bitcoin, underscoring the potential for the asset to go mainstream on Wall Street.
Already, many traditional firms are buying Bitcoin through ETFs, complementing the unrelenting acquisitions from spot buyers like MicroStrategy.
Forex2 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
How is the Australian dollar doing today?
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex2 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency2 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities2 years ago
Copper continues to fall in price on expectations of lower demand in China
- Forex2 years ago
The dollar is down again against major world currencies
