WEEK OF APRIL 29, 2024
Welcome to the Traderverse Weekly Newsletter!
Traderverse Updates
Welcome to our newsletter series, where we unveil updates and features as we gear up for our upcoming launch! This week, we’re excited to introduce a powerful new feature: Sharing Your Profile.
Introducing Profile Sharing:
Sharing your Traderverse profile has never been easier. Whether it’s with friends, new contacts, or anyone else, we’ve streamlined the process with a simple QR code. Just open your profile, and let them scan the QR code to instantly connect.
Control Over Your Information:
We believe in putting you in control. That’s why you have the option to choose whether your contact information is added to their contact list. Your privacy is paramount, and we respect your choices.
Grow Your Network, Grow Your Net Worth:
With Traderverse, peer-to-peer exchange is key. By sharing your profile, you’re not only expanding your network but also contributing to the growth of Traderverse as a whole. And remember, every new connection brings the potential for new opportunities.
Thank you for your support and enthusiasm. Together, we're building a vibrant community where traders can thrive.
Important Prices
What’s Moving The Markets?
President Biden’s proposed 44.6% capital gains tax rate, targeting high earners, aims to “address wealth inequality” and “reshape fiscal policy”, prompting investors to adapt their strategies amidst potential tax changes.
Alphabet Inc., parent company of Google, thrilled investors by introducing its first dividend and a $70 billion stock buyback plan, leading to a 16% surge in its stock value, amidst impressive financial performance and strategic investments in AI and infrastructure.
Meta Platforms’ shares plummeted 13% due to concerns over the prolonged returns from its AI investment, triggering a broader tech stock selloff, while analysts are divided over its impact and future prospects.
Tesla, amidst intensifying competition and declining sales, implements significant price reductions globally, including China and Germany, to stimulate demand and remain agile in response to evolving market conditions.
U.S. Treasury Secretary Janet Yellen remained optimistic about economic growth, addressing concerns over first-quarter data while emphasizing resilience, international challenges, inflation management, and the dynamic currency landscape.
The SEC is likely to reject the approval of a Spot Ethereum ETF next month, dampening industry anticipation and raising concerns about the future of Ethereum ETF approval amidst ongoing one-sided discussions and delays.
S&P Outlook
Bear Case: Bears are looking to regain control by driving the price back below the pivotal level of 5122. 5166.50 is a heavy supply zone that could serve as a key resistance point where bears may aim to capitalize on this level to reload and strengthen their position, potentially stalling any bullish advances.
Bull Case: Having successfully breached the 5122 level, bulls now focus on sustaining this ground to solidify their control. Should the price retract below 5122, the 5069 area is identified as a crucial support zone. Bulls will need to robustly defend this level to prevent further declines and preserve the upward trajectory.
EARNINGS RELEASE CALENDAR
FOR WEEK OF APRIL 29th
Economic Data Calendar
