Large technology stocks fell, dragging down the US stock market on Friday, but major indices rose for the week and are expected to achieve strong annual gains. Due to low trading volumes during the holiday season, the market has struggled to find a foothold. Some of the hardest-hit stocks are the so-called 'Seven Giants' of the technology sector that have led the market this year.
Currently, the valuations of major US technology companies are at their highest level since the 2000 internet bubble. The expected price-to-sales ratio of the eight super-cap companies, including Amazon, Apple, Meta, Microsoft, Netflix, NVIDIA, and Tesla, has reached 7.8 times, surpassing levels before the bear market in 2022.
The Bank of Japan released a summary of its December meeting's views, indicating that the possibility of an interest rate hike next month still exists. Friday's overnight swap trends show a 42% probability of a rate hike in January and a 72% probability before the end of March.
Bitcoin is becoming a mainstream investment in 2024, thanks to the explosive issuance of the first cryptocurrency ETFs in the US and Trump's unexpected endorsement of digital assets. To capitalize on this momentum, asset management firms are competing to include smaller, higher-risk tokens in their ETFs.
The Russian government has traditionally opposed Bitcoin, banning its use for domestic payments, but it has recently found that virtual currencies may have benefits in evading US and Western sanctions.
In the past couple of days, Nasdaq traders and operators have been resting. The US has seen a slight pullback, with negative news continuing to emerge. At this moment, with Trump in office, the constant stream of bad news seems to be aimed at tricking retail investors into cutting losses and leaving the market. If you fall for it, then congratulations, you are about to miss out on the gradual warming of the cryptocurrency market in mid to late January and the subsequent one-sided upward trend in February to March. Currently, the Nasdaq's decline or sideways movement is also a way to build momentum for a surge during the early days of Trump's presidency. After taking office, he will release some positive news for technology and the economy, which will directly drive a breakthrough above 20,000 points, showing that his leadership is wise and that the American people's choice is correct, right? At this time, it's a strategy of buying more as prices drop and aggressively buying during a crash. The bull market has not ended, and there should be a new narrative when Trump takes office. The future rise of BTC will exceed the understanding of retail investors. Do you believe it? $BTC #美国加密立法或将重启
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