WEEK OF AUGUST 26, 2024
Welcome to the Traderverse Weekly Newsletter!
At Traderverse, we’re always striving to enhance your experience, and today, we’re thrilled to give you a hint of what’s on the horizon.
Exciting Features in the Works
Behind the scenes, our team has been hard at work developing new features that we believe will redefine your trading journey. While we can’t reveal everything just yet, we’re too excited to keep it all under wraps. These upcoming enhancements are designed to make your trading experience smoother, more powerful, and more connected than ever before.
Get Ready to Explore
Imagine a Traderverse where your insights are sharper, your network is stronger, and your trading strategies are more refined. The features we’re preparing will empower you to explore new possibilities and maximize your potential. Whether you’re a seasoned pro or just starting out, there’s something for everyone in what’s to come.
Stay Tuned
We can’t wait for you to dive into these new features and see how they can transform your trading experience. Over the next few weeks, we’ll be sharing more details, so keep an eye on your inbox for updates!
Thank you for being part of the Traderverse community. Your passion drives us to innovate and improve, and we’re so excited to take this next step with you.
Important Prices
What’s Moving The Markets?
The Federal Reserve is preparing to cut interest rates as inflation cools and the job market softens, with Chair Jerome Powell signaling a potential policy shift at his speech in Jackson Hole, while economists remain divided on the timing and extent of rate reductions amid ongoing economic uncertainty.
Walmart sold its entire $3.7 billion stake in JD.com to focus on strengthening its Walmart China and Sam’s Club operations amidst fierce competition in China’s e-commerce market, while maintaining a strategic partnership with JD.com despite the divestiture.
The FAA has issued a new airworthiness directive for Boeing 787 Dreamliners following a mid-air dive incident that injured over 50 passengers, citing uncommanded captain’s seat movement as the cause; inspections of seat components are required across 158 U.S.-registered and 737 planes globally.
Vice President Kamala Harris has endorsed President Biden’s historic 44.6% capital gains tax proposal, featuring a 25% tax on unrealized gains for the ultra-wealthy and a corporate tax increase to 28%, while also advocating for expanded tax credits and exemptions, amid skepticism over its legislative prospects.
The Federal Reserve may face a major adjustment to US job data, potentially revealing up to one million fewer jobs, which could challenge its current strategy on interest rates and heighten concerns about economic stability amid ongoing inflation and recession risks.
Russia plans to launch state-linked cryptocurrency exchanges in Moscow and St. Petersburg to facilitate trade payments and mitigate US sanctions, while developing a yuan-pegged stablecoin as part of a broader BRICS de-dollarization strategy to enhance the role of the Russian ruble and Chinese yuan in global trade
S&P Outlook
Bear Case: Bears are tasked with breaking and maintaining the price below 5534 to initiate bearish momentum. Additionally, there is a potential supply zone beginning at 5688, which could provide a strategic advantage for bears to capitalize on, should the price reach this higher level. This zone is critical for bears looking to regain control and push the market downward.
Bull Case: Bulls have maintained their dominance by continuously creating and testing new demand zones, with a recent one established at 5580. If 5534 is breached, 5460 stands as a substantial demand zone where bulls would likely make a strong stand to sustain their bullish momentum..
EARNINGS RELEASE CALENDAR
FOR WEEK OF AUGUST 26TH
Economic Data Calendar
