Market Analysis

While global oil inventories fall at an alarming rate, continuing concerns about China property developer Evergrande are holding prices back.
Powell and committee emphasized conditions to taper their monthly asset purchases are near, but most importantly continued to disassociate those conditions from that of a rate hike.
Goldman Sachs has participated in a USD 41 million raise by crypto fund manager One River Digital Asset Management. We review the bank’s involvement in crypto to date.
Oil prices and the oil industry are battling back from severe challenges, whether it be the aftermath of Hurricane Ida or macroeconomic fears created by the Evergrande crisis in China.
Macro worries about fallout from a possible default in China, fears that the U.S. might not raise the debt ceiling, and uncertainty about the upcoming Fed meeting caused Monday's meltdown.
Last week, SEC Chairman Gary Gensler told crypto news outlet The Block that staking via third parties may qualify as a securities contract. The comments may challenge key concepts related to Ethereum’s PoS system.
Not only did the S&P pare losses by 1%, but there was also more volume in the E-mini S&P in the final 30 minutes than in the opening 30 minutes.
Authorities now examining “insider trading and market manipulation.” Along with Binance, U.S. exchanges are also facing regulatory pressure following SEC Chairman Gary Gensler’s Senate testimony.
There are 3 punches here the market is absorbing: uncertainties and fears of contagion relating to the Evergrande fallout, the S&P’s close below the 50-day moving average on Friday, and deadlock in Washington.
Officials are also said to be readying a “policy framework” for stablecoins, due to be released in the coming weeks.