S2 E22: U.S. Mixed Markets Wrap, ETH Ethereum Rockets, and SFM Safemoon Beware
Episode description
In today's episode of compounding lifestyle, U.S. Mixed Markets Wrap, ETH Etherium Rockets, and Safemooners Beware.
U.S. equity futures retreated and Asian stocks were mixed Tuesday following weakness among the technology giants on Wall Street. The dollar rallied. The poor manufacturing data, or more so scary data, will be the reason the stock market will move if we continue to get more reports like this and similar jobs report at the end of the week.
South Korean shares edged down while Hong Kong and Australia rose modestly. Trading will be limited with Japan and China among markets closed for holidays. U.S. contracts fell after the S&P 500 ended near session lows and shares such as Tesla Inc. and Amazon.com Inc. weighed on the Nasdaq 100. Ten-year Treasury yields dropped back to around 1.6% in U.S. trade amid comments from Federal Reserve Chair Jerome Powell that the economic recovery is patchy.
How concerned should you be that the CAPE for the U.S. stock market is the highest in the world? I am referring to the cyclically adjusted price/earnings ratio (CAPE) made famous by Yale University finance professor (and Nobel laureate) Robert Shiller. It is conceptually similar to the typical P/E ratio, except that instead of using trailing 12-month earnings as the denominator the CAPE uses average inflation-adjusted earnings over the trailing 10 years. The CAPE currently stands at 36.6 for the S&P 500 SPX, +0.27%, according to Shiller’s latest calculations. That’s higher than 98% of monthly readings since 1881, and more than double the 140-year average, suggesting an extremely overvalued market.
The price of Ether is up about 12% over the past 24 hours and up around 350% year to date, according to CoinDesk. With Bitcoin, many people treat it like digital gold, arguing it's a store of value. Others use it to buy and sell things. But with Ethereum, developers use the blockchain for things like building applications and writing smart contracts. Lately, investors have been interested in non-fungible tokens (NFTs). At the risk of oversimplifying things, NFTs allow people to own unique, digital properties like digital art. And many NFTs are built on the Ethereum blockchain. Therefore, with the surging popularity of NFTs (among other things), Ethereum is being used more. Furthermore, Ether tokens make the Ethereum blockchain run, meaning they're in increasing demand. That demand is sending the price of Ether higher EBay says open to accepting cryptocurrencies in the future, exploring NFTs.
I smell another bitconnect alert!! Safemooners beware of burn wallet which the developers admit they will only manually burn. Something smells fishy but I could be wrong... but with 600 trillion in circulation, it will never reach a dollar. Massive pump in dump. Get out of it. no wallet. It would have to be worth 600 trillion dollars.
$ARKX $XOM $TSLA $AAL $BNGO $MARA $O $CRWD $FB $AAPL $FCEL $MGM $GOOGL $EZGO $SHOP $MTCH $DIS $PDD $ $TWTR $AMZN $EBET $PLTR $BFLY $ENZC $GM $ABNB $BUZZ $PTON $TDOC $DDD $U BTC ETH XLM
Control the Cash balance today and position yourself accordingly. Let's GO!!!!!
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