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Share link:In this post: The S&P 500 is hitting new highs, but only a small number of mega-cap tech stocks are driving the gains. Similar narrow market rallies in the past have often led to weaker performance over the following 12 months, according to data going back to 1972. Some analysts believe potential interest rate cuts by the Federal Reserve could boost participation from smaller stocks and help stabilize the rally.
Share link:In this post: X said it’s “deeply concerned” about press censorship in India after being ordered to block over 2,300 accounts, including Reuters. India’s government denies issuing a new blocking order and claims it quickly asked X to restore the Reuters accounts. The dispute highlights ongoing tensions between X and Indian authorities over content takedowns and press freedom.
Share link:In this post: Pakistan has launched the Pakistan Virtual Assets Regulatory Authority (PVARA) to license and oversee crypto service providers. The Pakistan crypto market has over 40 million users and $300B in annual trading volume. The government also allocated 2,000 megawatts of electricity for Bitcoin mining and plans to establish a strategic Bitcoin reserve.
- 23:02Bitcoin futures fell more than 1.3% on Friday, while Ethereum futures rose over 16.7% this weekAccording to Jinse Finance, on Friday (July 18) at the close of New York trading, the main CME Bitcoin futures BTC contract fell 1.36% compared to Thursday’s New York close, settling at $118,000. Over the week, it declined by 0.73%, trading overall within the $124,000–$116,000 range and displaying an M-shaped trend. The main CME Ether futures DCR contract rose 3.08% to $3,528.50, with a cumulative weekly gain of 16.76%. It remained roughly flat on Monday and Tuesday, then began a sustained and steady upward trend before the U.S. stock market opened on Tuesday, which continued through to Friday’s Asia-Pacific midday session. Over the past seven calendar days, spot Bitcoin has edged up by 0.08%, also showing an M-shaped trend, and reached as high as $123,000 on Monday. Spot Ethereum has gained 19.42% over the past seven days, with a sustained and steady upward trend starting on Tuesday as well.
- 22:57Fed’s Goolsbee: Rate Cuts Possible if Uncertainty Is ResolvedAccording to a report by Jinse Finance, Federal Reserve's Goolsbee stated that a certain consensus on tariffs is needed to better understand their impact on inflation. Ongoing announcements regarding tariffs mean that tariffs cannot be interpreted as a one-time price increase. Any factor that increases the difficulty of determining whether we have achieved the 2% inflation target will extend the timeline for rate cuts. We still need to wait and see. If inflation remains moderate for several months, I will feel more reassured. If uncertainties are resolved, rate cuts are possible. If we begin to see deterioration in the labor market, this will become an important factor in my policy considerations.
- 21:23Cantor Equity Partners IV Files for IPOAccording to ChainCatcher, market sources report that Cantor Equity Partners IV, a SPAC entity under Wall Street investment bank Cantor Fitzgerald led by Brandon, son of U.S. Secretary of Commerce Howard Lutnick, has filed for an initial public offering (IPO). This marks its fifth SPAC (Special Purpose Acquisition Company) project, having previously reached two agreements related to Bitcoin asset reserves.