You can listen to this Money Monday Podcast on YouTube and Spotify. Today is Monday, June 10th, 2024 and here’s what you need to know for the week ahead. Over the weekend, the crypto market experienced a significant downturn. Bitcoin saw a decrease of 3%, and many major altcoins were down by 10% or more.
Historically, these patterns have resulted in significant losses Today we’re looking into techincals on the S&P 500’s $SPY ETF. Techincal analysis tells us that these head and shoulder patterns are bearish. Learn more about H&S patterns on investopedia. Historically, these topping patterns have resulted in price drops around the neckline. Although these price structures are
Listen to this Mid-Week Market Review on YouTube and Spotify Top Headlines From The Economist: Is America’s economy heading for a consumer crunch? Predictions made by bank bosses last summer suggested that households would be squeezed by inflation, but these have been confounded. Instead, consumer spending has powered American GDP to grow faster than that
Iron & Steel Manufacturing The Producer Price Index for iron and steel has dropped over 26% after peaking in 2022. Also noteworthy is Total Highway and Street Construction Spending dropping over 2% since December 2023. You can find charts, data, tables, and much more on the Fraywire Market Portal for free Sign up for our
Top News From CNBC. “F.A.A. won’t clear Boeing to increase seven-thirty-seven Max production for several months, agency head says.”This is a significant setback for Boeing, which has been trying to ramp up production following previous issues with the 737 Max. The F.A.A.’s decision indicates ongoing concerns about the aircraft’s safety, which could have a substantial
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In this Newsletter: Upcoming Events: These events were found using the Economic Calendar Widget on Fraywire.com Found on Fraywire: Weekly jobless claims jump to 231,000, the highest since August Gold is overvalued now and won’t help you beat inflation in coming years Federal Reserve holds rates steady. Here’s the financial impact Nvidia stands to benefit
What You Missed: Boeing’s stock heads for 17-month low as the bad news keeps coming https://www.marketwatch.com/story/boeings-stock-heads-for-17-month-low-as-the-bad-news-keeps-coming-b7e1a715?mod=mw_rss_topstories ‘What Are We Waiting for’? SEC Commissioner Hester Peirce Discusses Moving Crypto Regulation Foward https://www.coindesk.com/consensus-magazine/2024/04/10/what-are-we-waiting-for-sec-commissioner-hester-peirce-discusses-moving-crypto-regulation-foward/ U.S. oil prices fall, with weekly crude supplies up by nearly 6 million barrels https://www.marketwatch.com/story/oil-prices-edge-higher-ahead-of-official-u-s-inventory-data-1afdf709?mod=mw_rss_topstories US inflation jumps as fuel and housing costs rise
Markets were closed yesterday for the holiday, so our normal “Money Mondays” is being released today on Tuesday this week.