S&P
57,827 views
31 Posts
Hot
Latest
#S&P 500 ANALYSIS
The S&P 500 is currently trading within an ascending triangle pattern, a formation often indicative of potential bullish continuation. At present, the index is rebounding from the Ichimoku Cloud, which is acting as a key support level, reinforcing the current bullish momentum.
However, it's crucial to await a decisive breakout above the patternâs resistance or a breakdown below its support to confirm the S&P 500âs next direction. A breakout would signal a strong upward trend, while a breakdown could imply bearish pressure.
Additionally, the S&P 500âs movement often aligns with trends in the crypto market, as broader market sentiment can influence risk assets across different sectors. Therefore, monitoring this index closely could provide valuable insights into potential shifts in both traditional markets and cryptocurrencies.
#binance #crypto #btc #salmankhanwazir @Salman Khan Wazir
The S&P 500 is currently trading within an ascending triangle pattern, a formation often indicative of potential bullish continuation. At present, the index is rebounding from the Ichimoku Cloud, which is acting as a key support level, reinforcing the current bullish momentum.
However, it's crucial to await a decisive breakout above the patternâs resistance or a breakdown below its support to confirm the S&P 500âs next direction. A breakout would signal a strong upward trend, while a breakdown could imply bearish pressure.
Additionally, the S&P 500âs movement often aligns with trends in the crypto market, as broader market sentiment can influence risk assets across different sectors. Therefore, monitoring this index closely could provide valuable insights into potential shifts in both traditional markets and cryptocurrencies.
#binance #crypto #btc #salmankhanwazir @Salman Khan Wazir
#S&P 500 ANALYSIS
The S&P 500 has continued its bullish momentum following the channel and horizontal resistance breakout. With increasing bullish volume and consecutive bullish candle closes, the index is displaying strong momentum.
This suggests a likelihood of further bullish movement. Additionally, this trend bodes well for the crypto market, as it typically exhibits a direct correlation with stock market performance.
#TrendingTopic #Write2Earn
The S&P 500 has continued its bullish momentum following the channel and horizontal resistance breakout. With increasing bullish volume and consecutive bullish candle closes, the index is displaying strong momentum.
This suggests a likelihood of further bullish movement. Additionally, this trend bodes well for the crypto market, as it typically exhibits a direct correlation with stock market performance.
#TrendingTopic #Write2Earn
đ„đ„This is not an altcoin.
This is a 1-minute chart of the S&P 500 index after the Fed signaled they may cut interest rates next year.
#S&P
This is a 1-minute chart of the S&P 500 index after the Fed signaled they may cut interest rates next year.
#S&P
Moody's and Fitch Assessments on Turkey's Economy. đčđ·â ïž
In recent updates from credit rating agencies Moody's and Fitch, positive sentiments are expressed regarding Turkey's economic situation. Here's a summary of their key points:
đ Fitch's Perspective:
Fitch Ratings' Country Ratings Director, Paul Gamble, finds the normalization steps in Turkey reassuring for foreign investors.
Despite positive trends, Gamble emphasizes the need for time and acknowledges significant challenges.
The policy changes post-election are seen to reduce short-term macro-financial stability risks and payment balance pressures.
However, he highlights the importance of continued confidence in the sustainability of these policy adjustments.
đ Moody's Analysis:
Moody's acknowledges the potential for a positive outlook if the tight monetary stance is maintained, and wage agreements align with the Central Bank's inflation reduction goal.
Positive indicators include a decrease in the current account deficit and an increase in foreign exchange reserves, especially if tied to improved external competitiveness and sustained capital inflows.
Moody's suggests a return to orthodox monetary policy is a positive move and notes the substantial tightening by the Central Bank.
Concerns are raised about imminent inflationary pressures, especially with potential excessive wage increases, and the importance of broader economic stability.
â© General Observations:
Moody's has not issued a specific rating update but maintains Turkey's credit rating at B3 with a stable outlook.
Standard & Poor's (S&P) recently shifted its credit rating outlook for Turkey from stable to positive, citing evidence of the country's economic rebalancing.
đ Factors for Positive Outlook:
- Improvement in payment balance results.
- Increase in domestic savings.
- Strengthening of the Turkish Lira.
- Rise in available foreign exchange reserves.
#Moody's #Standard&Poor's #Fitch #S&P #Turkey
In recent updates from credit rating agencies Moody's and Fitch, positive sentiments are expressed regarding Turkey's economic situation. Here's a summary of their key points:
đ Fitch's Perspective:
Fitch Ratings' Country Ratings Director, Paul Gamble, finds the normalization steps in Turkey reassuring for foreign investors.
Despite positive trends, Gamble emphasizes the need for time and acknowledges significant challenges.
The policy changes post-election are seen to reduce short-term macro-financial stability risks and payment balance pressures.
However, he highlights the importance of continued confidence in the sustainability of these policy adjustments.
đ Moody's Analysis:
Moody's acknowledges the potential for a positive outlook if the tight monetary stance is maintained, and wage agreements align with the Central Bank's inflation reduction goal.
Positive indicators include a decrease in the current account deficit and an increase in foreign exchange reserves, especially if tied to improved external competitiveness and sustained capital inflows.
Moody's suggests a return to orthodox monetary policy is a positive move and notes the substantial tightening by the Central Bank.
Concerns are raised about imminent inflationary pressures, especially with potential excessive wage increases, and the importance of broader economic stability.
â© General Observations:
Moody's has not issued a specific rating update but maintains Turkey's credit rating at B3 with a stable outlook.
Standard & Poor's (S&P) recently shifted its credit rating outlook for Turkey from stable to positive, citing evidence of the country's economic rebalancing.
đ Factors for Positive Outlook:
- Improvement in payment balance results.
- Increase in domestic savings.
- Strengthening of the Turkish Lira.
- Rise in available foreign exchange reserves.
#Moody's #Standard&Poor's #Fitch #S&P #Turkey
#S&P 500 ANALYSIS
S&P 500 continued its bullish move after the breakout of the ascending triangle. Currently, it retested successfully above the previous high.
A bullish move is expected and that would also be a bullish sign for the crypto market #crypto2023 #BTC #crypto
S&P 500 continued its bullish move after the breakout of the ascending triangle. Currently, it retested successfully above the previous high.
A bullish move is expected and that would also be a bullish sign for the crypto market #crypto2023 #BTC #crypto
S&P Global Affirms China's Credit Rating Amidst Moody's Negative Outlook. đšđłđ
In a recent statement, S&P Global Ratings addressed the stability of China's credit rating and outlook following Moody's decision to downgrade the country's credit rating outlook to "negative."
- Contrary to Moody's recent move, S&P Global has maintained the status quo for China's credit rating.
- S&P confirmed its A+ long-term rating for China in June with a stable outlook, and there have been no changes since then.
- The current assessment by S&P Global reflects a 'stable' outlook for the creditworthiness of the Chinese government.
It's worth noting that the global financial landscape remains dynamic, and credit rating agencies play a crucial role in assessing and communicating the economic health of nations. Investors and policymakers often closely monitor such developments to make informed decisions in the financial markets.
#China #S&P #Standard&Poor's #Moody's
In a recent statement, S&P Global Ratings addressed the stability of China's credit rating and outlook following Moody's decision to downgrade the country's credit rating outlook to "negative."
- Contrary to Moody's recent move, S&P Global has maintained the status quo for China's credit rating.
- S&P confirmed its A+ long-term rating for China in June with a stable outlook, and there have been no changes since then.
- The current assessment by S&P Global reflects a 'stable' outlook for the creditworthiness of the Chinese government.
It's worth noting that the global financial landscape remains dynamic, and credit rating agencies play a crucial role in assessing and communicating the economic health of nations. Investors and policymakers often closely monitor such developments to make informed decisions in the financial markets.
#China #S&P #Standard&Poor's #Moody's
An ATH Bitcoin DCA strategy would have generated profit, beating the S&P 500
Bitcoin, the world's leading cryptocurrency, has proven to be a lucrative investment opportunity for those who have embraced a Dollar-Cost Averaging (DCA) strategy. A recent analysis indicates that employing an "All-Time High" (ATH) Bitcoin DCA approach would have generated significant profits, surpassing the returns of the S&P 500. In this article, we explore the concept of the ATH Bitcoin DCA strategy, its potential advantages over traditional investment options, and its ability to generate long-term profits.
Understanding the ATH Bitcoin DCA Strategy: The ATH Bitcoin DCA strategy involves consistently investing a fixed amount of money into Bitcoin at regular intervals, regardless of its price, starting from the highest price point it has ever reached. This approach aims to minimize the impact of market volatility and capitalize on potential price downturns.
Bitcoin's Historical Performance: Bitcoin has experienced remarkable growth since its inception, despite enduring occasional market corrections. By adopting the ATH Bitcoin DCA strategy, investors would have accumulated Bitcoin at various price levels over time, benefiting from both price dips and subsequent recoveries.
Outperforming the S&P 500: Comparisons with the S&P 500, a widely recognized stock market index, reveal that the ATH Bitcoin DCA strategy has proven to be more profitable. This finding underscores the potential advantages of investing in Bitcoin, particularly when employing a long-term DCA approach.
Capitalizing on Bitcoin's Potential: Bitcoin's limited supply, increasing institutional adoption, and expanding mainstream acceptance contribute to its allure as a long-term investment option. The ATH Bitcoin DCA strategy allows investors to accumulate Bitcoin over time, regardless of short-term market fluctuations. This approach positions them to benefit from the potential for significant returns as Bitcoin continues to evolve and gain wider recognition.
Risks and Considerations: While the ATH Bitcoin DCA strategy has demonstrated historical advantages, it is essential to acknowledge the inherent risks associated with investing in cryptocurrencies. Bitcoin remains a highly volatile asset, susceptible to market fluctuations and regulatory developments. Investors should carefully assess their risk tolerance, diversify their portfolios, and conduct thorough research before engaging in any investment strategy, including ATH Bitcoin DCA.
Taking a Long-Term Perspective: The ATH Bitcoin DCA strategy embraces a long-term investment mindset, prioritizing the accumulation of Bitcoin over attempting to time the market. This approach helps mitigate the impact of short-term price volatility and enables investors to participate in Bitcoin's long-term growth potential. By consistently accumulating Bitcoin throughout various market cycles, investors can potentially realize significant profits over time.
Conclusion:
The ATH Bitcoin DCA strategy has emerged as a profitable and reliable method for investing in Bitcoin, surpassing the returns of the S&P 500 over the long term. This strategy allows investors to take advantage of market volatility and accumulate Bitcoin at different price levels. However, it is crucial to recognize that investing in Bitcoin and cryptocurrencies carries inherent risks, and past performance is not indicative of future results. Investors should exercise caution, conduct thorough research, and seek professional advice before making any investment decisions. As Bitcoin continues to mature as an asset class, the ATH Bitcoin DCA strategy presents an enticing option for long-term investors seeking exposure to the potential growth of the cryptocurrency market.
#bitcoin #BTC #dyor #investors #S&P
Understanding the ATH Bitcoin DCA Strategy: The ATH Bitcoin DCA strategy involves consistently investing a fixed amount of money into Bitcoin at regular intervals, regardless of its price, starting from the highest price point it has ever reached. This approach aims to minimize the impact of market volatility and capitalize on potential price downturns.
Bitcoin's Historical Performance: Bitcoin has experienced remarkable growth since its inception, despite enduring occasional market corrections. By adopting the ATH Bitcoin DCA strategy, investors would have accumulated Bitcoin at various price levels over time, benefiting from both price dips and subsequent recoveries.
Outperforming the S&P 500: Comparisons with the S&P 500, a widely recognized stock market index, reveal that the ATH Bitcoin DCA strategy has proven to be more profitable. This finding underscores the potential advantages of investing in Bitcoin, particularly when employing a long-term DCA approach.
Capitalizing on Bitcoin's Potential: Bitcoin's limited supply, increasing institutional adoption, and expanding mainstream acceptance contribute to its allure as a long-term investment option. The ATH Bitcoin DCA strategy allows investors to accumulate Bitcoin over time, regardless of short-term market fluctuations. This approach positions them to benefit from the potential for significant returns as Bitcoin continues to evolve and gain wider recognition.
Risks and Considerations: While the ATH Bitcoin DCA strategy has demonstrated historical advantages, it is essential to acknowledge the inherent risks associated with investing in cryptocurrencies. Bitcoin remains a highly volatile asset, susceptible to market fluctuations and regulatory developments. Investors should carefully assess their risk tolerance, diversify their portfolios, and conduct thorough research before engaging in any investment strategy, including ATH Bitcoin DCA.
Taking a Long-Term Perspective: The ATH Bitcoin DCA strategy embraces a long-term investment mindset, prioritizing the accumulation of Bitcoin over attempting to time the market. This approach helps mitigate the impact of short-term price volatility and enables investors to participate in Bitcoin's long-term growth potential. By consistently accumulating Bitcoin throughout various market cycles, investors can potentially realize significant profits over time.
Conclusion:
The ATH Bitcoin DCA strategy has emerged as a profitable and reliable method for investing in Bitcoin, surpassing the returns of the S&P 500 over the long term. This strategy allows investors to take advantage of market volatility and accumulate Bitcoin at different price levels. However, it is crucial to recognize that investing in Bitcoin and cryptocurrencies carries inherent risks, and past performance is not indicative of future results. Investors should exercise caution, conduct thorough research, and seek professional advice before making any investment decisions. As Bitcoin continues to mature as an asset class, the ATH Bitcoin DCA strategy presents an enticing option for long-term investors seeking exposure to the potential growth of the cryptocurrency market.
#bitcoin #BTC #dyor #investors #S&P
Market Update Alert:Â
đč NASDAQ: All-time high breached! â
đč S&P 500: Soaring to new heights! â
đč DOW JONES: Record-breaking rally! â
After a game changing #FOMC speech, the financial world is buzzing.
Now, the spotlight shifts to #Bitcoin
Will the crypto giant follow suit and mark its territory with a new all-time high?
#NASDAQ #S&P #DowJones
$BTC $ETH $BNB
đč NASDAQ: All-time high breached! â
đč S&P 500: Soaring to new heights! â
đč DOW JONES: Record-breaking rally! â
After a game changing #FOMC speech, the financial world is buzzing.
Now, the spotlight shifts to #Bitcoin
Will the crypto giant follow suit and mark its territory with a new all-time high?
#NASDAQ #S&P #DowJones
$BTC $ETH $BNB
Wall Street Momentum Stalls After Thursday's Rally, Palantir Jumps To 3-Year Highs, Bonds Rally: What's Driving Markets Friday?
30X Profit Expected from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30, Donât miss this opportunity; join the pre-sale at the official website [PlayAiGames.Online]
Wall Street cooled off on Friday after the S&P 500's strongest session in nearly two years.Long-dated U.S. Treasury bonds saw renewed demand, pushing yields down by 6 basis points.
After a blistering Thursday that saw the S&P 500 close with its best session in nearly two years â up 2.3% â Wall Streetâs price action turned sluggish on a Friday lacking market-moving economic events.
By midday in New York, major indices were slightly positive or hovering around the flat line, signaling a slowdown in the bullish sentiment compared to the previous session.
Since the beginning of the week, the S&P 500 is down 0.5%, with a few hours of trading left to determine whether the U.S. stock market can avoid closing in the red for the fourth consecutive week.
#S&P #US #Wallstreet #Bitcoin #TONonBinance $BTC $ETH $USDC
30X Profit Expected from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 & Exchange Listing Price $0.30, Donât miss this opportunity; join the pre-sale at the official website [PlayAiGames.Online]
Wall Street cooled off on Friday after the S&P 500's strongest session in nearly two years.Long-dated U.S. Treasury bonds saw renewed demand, pushing yields down by 6 basis points.
After a blistering Thursday that saw the S&P 500 close with its best session in nearly two years â up 2.3% â Wall Streetâs price action turned sluggish on a Friday lacking market-moving economic events.
By midday in New York, major indices were slightly positive or hovering around the flat line, signaling a slowdown in the bullish sentiment compared to the previous session.
Since the beginning of the week, the S&P 500 is down 0.5%, with a few hours of trading left to determine whether the U.S. stock market can avoid closing in the red for the fourth consecutive week.
#S&P #US #Wallstreet #Bitcoin #TONonBinance $BTC $ETH $USDC
S&P Global plans decentralized finance push as it looks for DeFi director
S&P Global is on the hunt for a director of DeFi as the business and analytics firm looks to firm up its strategy around decentralized markets.
#S&P #DeFi #crypto2023 #Binance #BTC
S&P Global is on the hunt for a director of DeFi as the business and analytics firm looks to firm up its strategy around decentralized markets.
#S&P #DeFi #crypto2023 #Binance #BTC
S&P Raises Turkey's Credit Rating. đčđ·âĄ
In a significant move, Standard & Poor's (S&P) has upgraded Turkey's credit rating from "B" to "B+", marking a notable milestone in the country's economic journey. This upgrade is not merely a numerical adjustment but a testament to Turkey's resilience in overcoming economic challenges and implementing robust fiscal and monetary policies.
Timothy Ash, Senior Strategist at Bluebay Asset Management, hailed Turkey's progress, highlighting the nation's ability to navigate through turbulent economic waters. Analysts anticipate further upgrades from other credit rating agencies, with Moody's potentially considering a one-notch raise, given the positive trajectory.
The importance of sustainable economic policies cannot be overstated, as emphasized by Prof. Dr. Erhan AslanoÄlu from Istanbul Topkapı University. He underscores the need for consensus on income policies and price adjustments to address inflationary pressures effectively.
S&P's assessment underscores the importance of consistent and well-executed economic strategies for future upgrades. Moody's shift from a "stable" to a "positive" outlook in January and Fitch Ratings' recent upgrade further solidify Turkey's economic prospects.
The upgrade in Turkey's credit rating is more than just a symbolic gesture; it reflects the collective efforts of policymakers and economic stakeholders in steering the country towards a path of sustainable growth and stability. As Turkey continues to implement prudent economic policies, investors and analysts alike are optimistic about the nation's economic trajectory in the years to come.
#S&P #Turkey #tĂŒrkiye #economy #Standard&Poor's
In a significant move, Standard & Poor's (S&P) has upgraded Turkey's credit rating from "B" to "B+", marking a notable milestone in the country's economic journey. This upgrade is not merely a numerical adjustment but a testament to Turkey's resilience in overcoming economic challenges and implementing robust fiscal and monetary policies.
Timothy Ash, Senior Strategist at Bluebay Asset Management, hailed Turkey's progress, highlighting the nation's ability to navigate through turbulent economic waters. Analysts anticipate further upgrades from other credit rating agencies, with Moody's potentially considering a one-notch raise, given the positive trajectory.
The importance of sustainable economic policies cannot be overstated, as emphasized by Prof. Dr. Erhan AslanoÄlu from Istanbul Topkapı University. He underscores the need for consensus on income policies and price adjustments to address inflationary pressures effectively.
S&P's assessment underscores the importance of consistent and well-executed economic strategies for future upgrades. Moody's shift from a "stable" to a "positive" outlook in January and Fitch Ratings' recent upgrade further solidify Turkey's economic prospects.
The upgrade in Turkey's credit rating is more than just a symbolic gesture; it reflects the collective efforts of policymakers and economic stakeholders in steering the country towards a path of sustainable growth and stability. As Turkey continues to implement prudent economic policies, investors and analysts alike are optimistic about the nation's economic trajectory in the years to come.
#S&P #Turkey #tĂŒrkiye #economy #Standard&Poor's
đąđą BREAKING NEWS đąđą
đ¶ïžUS Markets Opened.
S&P 500: +0.25%
Nasdaq: +0.53%
Dow Jones: -0.01%
#S&P #Nasdaq #DownJones #News
đ¶ïžUS Markets Opened.
S&P 500: +0.25%
Nasdaq: +0.53%
Dow Jones: -0.01%
#S&P #Nasdaq #DownJones #News
Nvidia Outperforms Bitcoin on Google Trends Amid Artificial Intelligence Boom.
Nvidia not only overtook Microsoft, but also eclipsed Bitcoin in Google search trends. This development shows that the public's interest in artificial intelligence technologies is greater than its interest in cryptocurrencies. The Santa Clara-based chipmaker currently holds almost 90% of the #GPU market, making it indispensable in an AI-driven world.
As Nvidia's shares rose rapidly, it became one of the most expensive shares in the #S&P 500. But analysts are faced with a dilemma between excitement and caution. According to Bloomberg, Wall Street is having trouble predicting Nvidia's revenues due to unpredictable fluctuations in GPU demand. While this sudden rise signals strong growth potential, it also raises concerns about a possible AI bubble.
Industry observers liken Nvidia's rapid rise to Cisco's situation during the dot-com bubble. In 2000, Cisco briefly overtook Microsoft before declining, and its market capitalization is now less than half its peak value. This comparison serves as a reminder to be careful, pointing out the risks of overvaluations caused by technology hype.
#Nvidia CEO Jensen Huang expressed concerns about the sustainability of the company's AI-driven growth. According to recent reports, Huang is concerned about limited data center space for AI chips, stating that this could create a bottleneck in future installations. This concern has been added to existing speculation about the tech bubble around the company.
Nvidia's unprecedented rise marks a significant shift in technology and financial markets, surpassing even Bitcoin in terms of public interest. The company's future looks promising thanks to dominant market share in #GPUs and #AI technology, but caution is warranted. Historical comparisons and leadership concerns indicate the need for a balanced perspective in assessing its long-term durability. It will be critical to monitor the dynamics between AI and cryptocurrencies in the coming months.
Nvidia not only overtook Microsoft, but also eclipsed Bitcoin in Google search trends. This development shows that the public's interest in artificial intelligence technologies is greater than its interest in cryptocurrencies. The Santa Clara-based chipmaker currently holds almost 90% of the #GPU market, making it indispensable in an AI-driven world.
As Nvidia's shares rose rapidly, it became one of the most expensive shares in the #S&P 500. But analysts are faced with a dilemma between excitement and caution. According to Bloomberg, Wall Street is having trouble predicting Nvidia's revenues due to unpredictable fluctuations in GPU demand. While this sudden rise signals strong growth potential, it also raises concerns about a possible AI bubble.
Industry observers liken Nvidia's rapid rise to Cisco's situation during the dot-com bubble. In 2000, Cisco briefly overtook Microsoft before declining, and its market capitalization is now less than half its peak value. This comparison serves as a reminder to be careful, pointing out the risks of overvaluations caused by technology hype.
#Nvidia CEO Jensen Huang expressed concerns about the sustainability of the company's AI-driven growth. According to recent reports, Huang is concerned about limited data center space for AI chips, stating that this could create a bottleneck in future installations. This concern has been added to existing speculation about the tech bubble around the company.
Nvidia's unprecedented rise marks a significant shift in technology and financial markets, surpassing even Bitcoin in terms of public interest. The company's future looks promising thanks to dominant market share in #GPUs and #AI technology, but caution is warranted. Historical comparisons and leadership concerns indicate the need for a balanced perspective in assessing its long-term durability. It will be critical to monitor the dynamics between AI and cryptocurrencies in the coming months.
đš #BreakingNews
According to the S&P report, the Dollar / TL target by the end of 2024 has been reduced from 40âș to 31.88âș!
#DollarTL #TurkishLira #S&P #tĂŒrkiye
According to the S&P report, the Dollar / TL target by the end of 2024 has been reduced from 40âș to 31.88âș!
#DollarTL #TurkishLira #S&P #tĂŒrkiye
Turkey's Credit Rating Outlook Gets a Boost: Minister ĆimĆek's Response. đčđ·đ°
In a recent development, Standard & Poor's (S&P) raised Turkey's credit rating outlook from "stable" to "positive." Minister of Treasury and Finance Mehmet ĆimĆek expressed confidence in the government's Medium Term Program, stating that the implemented measures are yielding positive responses.
S&P confirmed Turkey's credit rating as "B" and highlighted policy adjustments in response to recent economic challenges. The Central Bank of the Republic of Turkey (CBRT) was noted for rebuilding its foreign exchange reserves, while interest rate hikes since June contributed to a reduction in twin deficits.
The statement also projected a lower-than-targeted 2023 budget deficit and a narrowing current account deficit due to a substantial decrease in imports. Additionally, if the balance of payments improves, foreign exchange reserves increase, and dollarization decreases in the next year, there is potential for a one-level credit score upgrade.
Minister ĆimĆek, in a social media statement, emphasized that the government would persist in implementing the Medium Term Program with patience and determination. The goals include achieving price stability, a permanent decrease in the current account deficit, fiscal discipline, and reserve accumulation to propel the country toward sustainable high growth.
As Turkey navigates economic challenges, this positive outlook from S&P reflects ongoing efforts to address issues and instill confidence in the nation's economic trajectory.
#Standard&Poor's #S&P #Turkey #CBRT
In a recent development, Standard & Poor's (S&P) raised Turkey's credit rating outlook from "stable" to "positive." Minister of Treasury and Finance Mehmet ĆimĆek expressed confidence in the government's Medium Term Program, stating that the implemented measures are yielding positive responses.
S&P confirmed Turkey's credit rating as "B" and highlighted policy adjustments in response to recent economic challenges. The Central Bank of the Republic of Turkey (CBRT) was noted for rebuilding its foreign exchange reserves, while interest rate hikes since June contributed to a reduction in twin deficits.
The statement also projected a lower-than-targeted 2023 budget deficit and a narrowing current account deficit due to a substantial decrease in imports. Additionally, if the balance of payments improves, foreign exchange reserves increase, and dollarization decreases in the next year, there is potential for a one-level credit score upgrade.
Minister ĆimĆek, in a social media statement, emphasized that the government would persist in implementing the Medium Term Program with patience and determination. The goals include achieving price stability, a permanent decrease in the current account deficit, fiscal discipline, and reserve accumulation to propel the country toward sustainable high growth.
As Turkey navigates economic challenges, this positive outlook from S&P reflects ongoing efforts to address issues and instill confidence in the nation's economic trajectory.
#Standard&Poor's #S&P #Turkey #CBRT
Is a Tech Recession Looming After Alphabet's $180 Billion Wipeout? đ°
On October 25, the tech industry experienced a significant #downturn , with Google's parent company, Alphabet, leading the decline, dropping by 9.5%, resulting in a $180 billion loss in market value.
This was the worst day for Google's stock since the COVID-19 pandemic in 2020. The overall tech sector, often referred to as the "magnificent seven," which includes Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla, collectively makes up a quarter of the S&P 500 index.
Amazon, Nvidia, and Meta saw their share prices fall by 5.5%, 4.3%, and 4.2% respectively. Apple and Tesla had more modest decreases at 1.35% and 1.9%, while Microsoft was the exception, with its stock price rising by 3.1% due to strong performance in its Azure business. This broad tech selloff led to a five-month low for the #S&P 500, fueling concerns of a tech recession. Google search trends reflected a 233% increase in searches for "stock market crash."
In contrast, the cryptocurrency market showed resilience, with optimism surrounding potential Bitcoin exchange-traded fund (ETF) approvals in the United States. The cryptocurrency market's total #capitalization increased by 16.3% to reach $1.3 trillion over the past week. Notably, Bitcoin, Ether, BNB, and XRP recorded gains of 23.3%, 16.7%, 8%, and 15.2%, respectively, in the same seven-day period.
#Binance
#crypto2023
On October 25, the tech industry experienced a significant #downturn , with Google's parent company, Alphabet, leading the decline, dropping by 9.5%, resulting in a $180 billion loss in market value.
This was the worst day for Google's stock since the COVID-19 pandemic in 2020. The overall tech sector, often referred to as the "magnificent seven," which includes Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla, collectively makes up a quarter of the S&P 500 index.
Amazon, Nvidia, and Meta saw their share prices fall by 5.5%, 4.3%, and 4.2% respectively. Apple and Tesla had more modest decreases at 1.35% and 1.9%, while Microsoft was the exception, with its stock price rising by 3.1% due to strong performance in its Azure business. This broad tech selloff led to a five-month low for the #S&P 500, fueling concerns of a tech recession. Google search trends reflected a 233% increase in searches for "stock market crash."
In contrast, the cryptocurrency market showed resilience, with optimism surrounding potential Bitcoin exchange-traded fund (ETF) approvals in the United States. The cryptocurrency market's total #capitalization increased by 16.3% to reach $1.3 trillion over the past week. Notably, Bitcoin, Ether, BNB, and XRP recorded gains of 23.3%, 16.7%, 8%, and 15.2%, respectively, in the same seven-day period.
#Binance
#crypto2023
#FOR looking ready to breakout accumulation phase
Forming double bottom on higher timeframe đâïž
Buy it for big gains in short termđ
#S&P 500 ANALYSIS
The S&P 500 pumped following the breakout of the trendline and the Ichimoku cloud. Currently, it is confronting horizontal resistance. The RSI is trending towards the overbought region.
A definitive breakout of the horizontal resistance would serve as confirmation of bullish momentum. Conversely, if faced with rejection, a retest of the Ichimoku cloud is likely. It's important to note that the S&P 500 often exhibits a correlation with the crypto market.
Forming double bottom on higher timeframe đâïž
Buy it for big gains in short termđ
#S&P 500 ANALYSIS
The S&P 500 pumped following the breakout of the trendline and the Ichimoku cloud. Currently, it is confronting horizontal resistance. The RSI is trending towards the overbought region.
A definitive breakout of the horizontal resistance would serve as confirmation of bullish momentum. Conversely, if faced with rejection, a retest of the Ichimoku cloud is likely. It's important to note that the S&P 500 often exhibits a correlation with the crypto market.
