Bitcoin Rises as US Dollar Falls
| Part of  Network | |
 Presented by  |
US Markets U.S. stock futures were flat overnight after a positive day for markets on Tuesday. - Chipotle shares lost nearly 5% after the company missed earnings expectations.
- Fortinet, a cybersecurity company, surged over 15% after beating its earnings per share expectations.
- Under Armour, Yum! Brands, Uber, Disney, and Robinhood are all reporting Q4 results today.
- The current 10 Year U.S. Treasury yield is set at 3.67730%
| Dow Jones | 34,156.69 | 0.78% | | S&P 500 | 4,164.00 | 1.29% | | Nasdaq | 12,113.79 | 1.90% | | Russell 2000 | 1,972.61 | 0.76% | *Stock Market data as of the last closing bell. Data received directly from the reference indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.
| |
 A message from SEGMENT Let engineers + product managers focus on product, not tricky integrations. Collect, clean & act on your customer data with $50K Segment credits! Segment is one of our favourite tools. Why do we love it? Segment: - Simplifies tracking. Instead of needing to log every event with 8 different tools, you instead use Segment to do it once. It then sends it to all the tools you use (Mixpanel, Customer.io, Facebook Ads, Google Ads, Looker, etc).
- Empowers the marketing team. Once you have Segment installed, the marketing team can decide to add a new tool without bugging an engineer to install it. Crazy?
- Pumps data from various tools into others. For example, use Segment to pump data from Intercom and Customer.io into Mixpanel where we then analyze our data.
Qualifying companies get $50,000 in Segment credits for up to 2 years! See if you qualify for our startup program. Apply Now 
| |
Canadian Markets According to a survey by BMO, Canadians estimate that they will need an average of CA$1.7M to retire. - That represents a 20% increase from 2020, when Canadians estimated they would need CA$1.4M.
- The figure is also the highest since BMO began to track the metric in 2010.
- The number is more indicative of declining confidence in the economy than a realistic estimation of the funds required to retire in Canada, BMO said.
- The survey also showed that the average Canadian still plans to retire at 62.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
| |
European Markets Markets in Europe closed slightly up on Tuesday after a volatile day of trading. - The Stoxx 600 rose 0.15% on the day.
- The FTSE 100 was the only major national European index gaining on Tuesday as stocks in France, Spain, Italy, and Germany fell.
- Oil and gas stocks bucked the trend with a 2.8% increase. The FTSE benefited as BP surged 8% after announcing record annual profits.
- Household goods was the worst performing sector, falling by 0.9%.
| Euro STOXX 50 | 4,209.31 | 0.09% | | UK (FTSE 100) | 7,864.71 | 0.36% | | Germany (DAX) | 15,320.88 | -0.16% | | France (CAC 40) | 7,132.35 | -0.07% | *European stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
Asian Markets Stocks in Asia were mixed on Wednesday morning after Fed Chairman Jerome Powell acknowledged that inflation is falling, which led investors to believe that the Fed will continue slowing interest rate hikes that have crushed purchasing power in Asia. - During his State of the Union address, U.S. President Joe Biden said the country is in the "strongest position in decades to compete with China." He said the U.S. will act to protect itself if Beijing threatens the country's sovereignty as it did last week by flying a spy balloon over U.S. soil.
- Shares of South Korea's SM Entertainment rose after Kakao said it plans to increase its stake in the company.
- Stocks in China were down early in the day before recovering following the State of the Union speech.
| S&P Asia 50 | 4,967.48 | 0.91% | | Japan (Nikkei 225) | 27,532.15 | -0.55% | | South Korea (KOSPI) | 2,479.69 | 3.52% | | China (Hang Seng) | 21,331.83 | 0.16% | | India (SENSEX) | 60,286.04 | -0.37% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
| |
Commodities Oil prices were up after Jerome Powell's speech eased concerns about more interest rates, which typically strengthen the U.S. Dollar. - The U.S. Energy Information Administration predicts that the country's oil output will rise in 2023 but that demand will remain flat compared to 2022.
- A Turkish export terminal that ships 1 million barrels per day is closed due to the earthquake in the country.
- Brent crude rose 3.83% on Tuesday and U.S. West Texas Intermediate crude gained 0.44%.
| Oil (NYSEARCA:OIL) | 29.50 | 3.73% | | Gold (NYSEARCA:GLD) | 173.98 | 0.11% | | Silver (NYSEARCA:SLV) | 20.38 | -0.49% | | Corn (NYSEARCA:CORN) | 26.50 | -0.60% | | Lumber (NASDAQ:WOOD) | 78.05 | 0.61% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
| |
Currencies After hitting a one-month high on Tuesday morning, the U.S. Dollar declined, following comments in which Fed Chair Jerome Powell acknowledged that inflation is slowing down. - The Australian Dollar rose after the country's central bank raised interest rates by a quarter point on Tuesday.
- U.S. interest rates are expected to peak at 5.1% before falling.
- The U.S. Dollar Index lost 0.2% on the day.
| UK(GBP) | £0.83 | -0.03% | | Europe (EURO) | €0.93 | 0.55% | | Canada (Canadian Dollar) | $1.34 | -0.03% | | Japan (Yen) | ¥131.24 | -0.59% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
| |
Cryptocurrency Bitcoin was up after Jerome Powell reiterated that inflation appears to be slowing, which fed into the bullish narrative for Bitcoin. - The Bank of England is looking into the possibility of launching a Digital Pound but would only allow citizens to hold up to £10k (US$11,900) in the currency.
- Executives at Fox Sports said that there will be limited advertising by blockchain companies at this year's Super Bowl after many launched expensive campaigns in 2022.
- Data shows that OpenSea and Blur are competitive NFT marketplaces. Blur's trading volume has increased rapidly but OpenSea continues to dominate the space thanks to stronger sales and more interacting wallets.
| Bitcoin | $23,247.80 | 1.36% | | Ethereum | $1,676.74 | 3.79% | | Litecoin | $101.03 | 5.14% | | Bitcoin Cash | $135.26 | 0.61% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
| |
 |  | Liam Gill is a founder, lawyer and investor.
He previously founded Fumarii Technologies, which became a top 20 ranked cloud computing service (Yahoo Finance! 2019) valued at over $30M. He holds an LLB Laws (UK), MSc Management and Master of Laws and currently practices law in Vancouver, Canada.
|   | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
Segment is an API-first analytics solution that empowers 15,000+ startups to scale their data infrastructure. | |
| 767 Bryant St. #203, San Francisco, CA 94107
Copyright © 2023 Inside.com | |
| |
