Spotify trying to excite Wall Street

Spotify will host an investor day for the first time since 2018 today. While the performance of the company has been underwhelming, the technology sector is not doing so great. Spotify stock has lost about 54 % since the start of the year. That might be a reason, why the company is having the investor day. To spark the interest of Wall Street again

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European stock indices tumble

The sell-off on major European markets continues on Friday as investors fear the tightening wave of monetary policy would harm global growth. After dropping below 400 points on Thursday for the first time since January 2021, the STOXX 600 is down approximately 0.7%. DAX 40 is down 0.8%, setting a new two-month low.

MOEX tumbles after Putin’s news

The MOEX Russia Index fell as much as 10% before reducing its losses to 3% at 2,150. The index continued its 9% decline from the previous session as President Putin proclaimed the nation’s first mobilization since World War II.

Nasdaq to offer crypto custody services

Several sources claim that Nasdaq has been preparing an entry into cryptocurrency custody services. The action is consistent with its ultimate aim of being a service provider in the crypto industry rather than a platform for cryptocurrency trading.

Samsung trying to tame emissions with huge investment

Samsung Electronics will invest about 5 billion dollars (7 trillion won) in green initiatives. The main goal of this should be to tackle the high costs of clean energy, but also eliminating the Scope 1 and Scope 2 carbon emissions. The following step would be the development of a plan to reduce Scope 3 emissions, which has not happened yet.

Starbucks and Polygon with NFT program

Starbucks partnered with Polygon to start offering an NFT-based loyalty program. Customers can buy the Starbucks Odyssey NFTs to claim benefits and an immersive experience provided by the company. From now on, customers can join the waitlist to receive access to Starbucks Odyssey.

O’Leary highlighted sectors to invest

Kevin O’Leary, a well known shark tank multimillionaire and entrepreneur, recommended investors to focus their attention to stocks due to high inflation. He stated that fixed income is now more dangerous and less appealing. Moreover, he highlighted the potential of healthcare and consumer cyclical stocks amid the rampant inflation numbers.

More market movers

European stock indices tumble

The sell-off on major European markets continues on Friday as investors fear the tightening wave of monetary policy would harm global growth. After dropping below 400 points on Thursday for the first time since January 2021, the STOXX 600 is down approximately 0.7%. DAX 40 is down 0.8%, setting a new two-month low.

PMI falls in several countries

Eurozone Purchasing Managers’ Index (PMI) fell to 48.9 in September of 2022 from 49.8 in August, and Germany Services PMI also dropped to 45.4 from 47.7. UK Services PMI also falls from 50.9 to 49.2, but France surprises with a rebound from 51.2 to 53.

Lumber is down 70% in 6 months

The housing sector is witnessing a dramatic slowdown and rising rates. As a result, lumber futures fell by 7% to $450, a level last seen in September 2021 and down nearly 70% from their March peak. In addition, August saw the seventh straight month of existing house sales declines, reaching their lowest level since May 2020.

EUR/USD below 0.98

The eurodollar fell under $0.98 for the first time in 20 years. This is just two days after Fed increased its interest rates by 75 bps and strengthened the dollar.

Binance creates Global Advisory Board

Binance announced the creation of its new Global Advisory Board. Its purpose will be to advise Binance on some of the most complex regulatory, political, and social issues the cryptocurrency industry faces amid the rapid growth and evolution of the ecosystem.

BoE raised rates by 50 bps

The Bank of England joined Federal Reserve and raised interest rates as expected by 50 bps to fight high inflation. This marks the 7th consecutive rate hike, pushing borrowing costs to the highest since 2008.

News

Exploring the Bitcoin bottom for the 47th time
BTC
-3.4%

Exploring the Bitcoin bottom for the 47th time

The Bitcoin bottom is one of the hottest topics of 2022 and many investors are getting sceptical about whether it will ever go up again.
EUR/GBP highest since February 21
-0.35%

EUR/GBP highest since February 21

Both currencies are dropping like a stone against the USD, but it looks like the fall is more significant for the GBP, thus pushing EUR/GBP higher.
Is Tether in trouble with the authorities again?
USDT
-0%

Is Tether in trouble with the authorities again?

According to the new court order, the company is to provide documents on backing its USDT stablecoin.
GBP/USD trades weaker following BoE rate hike
-1%

GBP/USD trades weaker following BoE rate hike

The Pound has failed to capitalize on today's BoE decision. dropping to daily lows during the US session.