Years ago, when we started talking about Digital Assets and Blockchain, one of the early criticisms among sceptics was the lack of “real-life”, practical use-cases. Well, one is playing out in “real time” with regard to the Russian invasion of Ukraine, leading some to describe it as the “first crypto war”.
Last week's market rally was historic given it was only the 5th time in market history that the S&P 500 gained at least 1% for 4 consecutive days. According to LPL's Ryan Detrick, the recent market action is extremely bullish, with the market being up more the 20% each year it occurred, generating an average gain of 28%.
Another week of extreme volatility associated with the situation in Ukraine sent the NASDAQ into correction territory, down 22% below its peak. The S&P 500 is off 14% since its highs. Many consumer staples stocks, like Coca-Cola, Pepsi, and food and consumer products, traded down on the announcement they were suspending business to Russia.
Stocks ended the week lower during a volatile week when investors continued to weigh developments related to the situation in Ukraine. The energy sector was the best performer, as international oil prices approached $120 per barrel.
Retail was already under a massive transformation prior to the pandemic, with shoppers shunning brick-and-mortar stores in favor of online retail’s 24/7 shopping convenience, greater product selection, competitive pricing, and rapid delivery options. But the pandemic has permanently changed retail shopping habits forever.
Market volatility sits at a two-year high as Russia invaded Ukraine. On the news of the invasion, the NASDAQ Composite swung by 6.8%, the largest intraday swing since the day WHO declared the start of the pandemic in March of 2020.
Russia and rate worries pushed stocks lower last week, suffering their second consecutive week of declines. Worries about an imminent Russian invasion of Ukraine and high inflation weighed on market sentiment.
The modern world is full of acronyms, but one acronym relevant to the Blockchain is MEV or miner extractable value. MEV is the measure of profit a blockchain miner can make through their ability to include, exclude or reorder transactions.
Happy Valentine's Day everyone. Between the Olympics, Valentine's Day, and Super Bowl, online shopping has been fast and furious.
We are in the middle of earnings season, with 112 names in the S&P 500 reporting last week. Amid all the earnings news, the market recorded its second consecutive week of gains.
