{"id":54825,"date":"2023-08-30T09:52:05","date_gmt":"2023-08-30T13:52:05","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/stocks-surge-tech-stays-strong-good-news-for-crypto\/"},"modified":"2023-08-30T09:52:08","modified_gmt":"2023-08-30T13:52:08","slug":"stocks-surge-tech-stays-strong-good-news-for-crypto","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=54825","title":{"rendered":"Stocks Surge, Tech Stays Strong, Good News For Crypto"},"content":{"rendered":"<div>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Stocks On A Win Streak<\/li>\n<li>Tepid Economic Data Gives Hope Inflation Is Cooling<\/li>\n<li>Court Ruling Boosts Crypto<\/li>\n<\/ul>\n<p>Following a weaker than expected report on job openings, stocks rallied across the board Tuesday. The S&amp;P 500 gained 1.5% with all eleven sectors notching gains. The Nasdaq Composite also surged 1.7%. Stocks are now up three consecutive days and have regained much of the ground lost in August.<\/p>\n<p>Tuesday\u2019s JOLTs number, which offers a read on the number of job openings, came in below forecasts. The Labor Department reported job openings declined 338 thousand in July to 8.8 million, the lowest level since March of 2021. The weak reading may suggest a cooling job market which could, in turn, mean inflation is continuing to ease. We\u2019ll get more information on the job market this Friday with the release of August\u2019s employment report. Forecasts call for 170 thousand new jobs created, down from July\u2019s 187 thousand, and an unemployment rate holding steady at 3.5%.<\/p>\n<p>New data on the housing market showed prices in June remained unchanged from a year ago. On a month-over-month basis; however, prices were up 0.7% for a fifth consecutive monthly increase. One caveat to that is the S&amp;P CoreLogic Case-Shiller Index is based on data from two months ago. Later this morning, fresh data on pending home sales is scheduled to be released. Forecasts there call for a drop of 0.6% in July from June.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<p>It\u2019s notable that the housing market has remained resilient despite mortgage rates surging over the past year. However, there could be a couple explanations as to why housing prices are holding. Multiple reports of late show investment groups are buying homes and generating income through rentals. At the same time, you have a large number of homeowners locked into rates down in the 3-4% range. If those homeowners opt to move, they\u2019re looking at substantially higher rates. Therefore, the combination of lower supply and demand from investment groups could be combining to obfuscate the full housing market situation.<\/p>\n<p>Tomorrow, the most recent Personal Consumption Expenditures (PCE) report will be released and we\u2019ll be able to triangulate more data at that point. The PCE report is heavily relied upon by the Federal Reserve in guiding decisions on interest rates. On a year-over-year basis, forecasts call for the index to be up 4.2%. On a month-over-month basis, economists expect the number to increase by 0.2%.<\/p>\n<p>Another story that\u2019s developing involves crypto and a ruling against the Securities and Exchange Commission. A federal appeals court ruled the SEC\u2019s decision denying Grayscale\u2019s proposal to launch a crypto ETF \u201cwas arbitrary and capricious,\u201d and that the SEC must reconsider Grayscale\u2019s application. Bitcoin<fbs-ticker data-name=\"BTC\" data-href=\"https:\/\/www.forbes.com\/digital-assets\/assets\/bitcoin-btc\/\" data-type=\"crypto\"><br \/>\n  BTC<br \/>\n <\/fbs-ticker> jumped nearly 4% following the news while shares of Coinbase surged 15%.<\/p>\n<p>Some individual stocks making news yesterday and in the premarket today include Best Buy<fbs-ticker data-name=\"BBY\" data-href=\"https:\/\/www.forbes.com\/companies\/best-buy\" data-type=\"stock\"><br \/>\n  BBY<br \/>\n <\/fbs-ticker>. The retailer reported numbers ahead of expectations before the open Tuesday, sending its stock higher by 4% for the day. However, the company lowered full year guidance on weakening consumer demand. This is a theme we\u2019ve repeatedly heard and will continue monitoring closely as the holiday shopping season approaches. Another stock in the headlines is HP<fbs-ticker data-name=\"HPQ\" data-href=\"https:\/\/www.forbes.com\/companies\/hp\" data-type=\"stock\"><br \/>\n  HPQ<br \/>\n <\/fbs-ticker>. The company reported a near 10% drop in revenues and issued a weaker than expected full year forecast. In premarket trading, shares of HP are lower by nearly 10%. Shares of Nvidia jolted to a new all-time closing high Tuesday as the stock continues its impressive run for the year. Finally, Apple<fbs-ticker data-name=\"AAPL\" data-href=\"https:\/\/www.forbes.com\/companies\/apple\" data-type=\"stock\"><br \/>\n  AAPL<br \/>\n <\/fbs-ticker> announced the date for their annual event at which the new iPhone will be revealed. Apple will host this year\u2019s event on September 12<sup>th<\/sup>. Typically, preorders for iPhones begin the Friday following this event and it will be interesting to see what demand for the new phone, which is expected to have a higher price than prior models, looks like. Shares of Apple are indicated flat following a 2% increase Tuesday.<\/p>\n<p>Lastly, Hurricane Idalia is made landfall today in Florida. The Category 3 storm hit the Florida gulf this morning and is already causing catastrophic damage. This is the third hurricane to batter Florida in the last year and many homeowners are just recently recovering from last summer\u2019s Hurricane Ian. The hurricane has sent prices of oil higher in recent days with crude oil futures trading over $81\/barrel. Aside from the potentially devastating humanitarian toll, the increase in oil prices could factor into the inflationary picture and future decisions by the Fed with respect to interest rates. As always, I would continue sticking with your investment plan and long term objectives.<\/p>\n<p><em>tastytrade, Inc. commentary for educational purposes only. This content is not, nor is intended to be, trading or investment advice or a recommendation that any investment product or strategy is suitable for any person.<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/jjkinahan\/2023\/08\/30\/stocks-surge-tech-stays-strong-good-news-for-crypto\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Stocks On A Win Streak Tepid Economic Data Gives Hope Inflation Is Cooling Court Ruling Boosts Crypto Following a weaker than expected report on job openings, stocks rallied across the board Tuesday. The S&amp;P 500 gained 1.5% with all eleven sectors notching gains. The Nasdaq Composite also surged 1.7%. Stocks are now up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-54825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks Surge, Tech Stays Strong, Good News For Crypto | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Key Takeaways Stocks On A Win Streak Tepid Economic Data Gives Hope Inflation Is Cooling Court Ruling Boosts Crypto Following a weaker than expected\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=54825\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks Surge, Tech Stays Strong, Good News For Crypto | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Key Takeaways Stocks On A Win Streak Tepid Economic Data Gives Hope Inflation Is Cooling Court Ruling Boosts Crypto Following a weaker than expected\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=54825\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-30T13:52:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-30T13:52:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1693403526_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54825#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54825\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Stocks Surge, Tech Stays Strong, Good News For Crypto\",\"datePublished\":\"2023-08-30T13:52:05+00:00\",\"dateModified\":\"2023-08-30T13:52:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54825\"},\"wordCount\":810,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=54825#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54825\",\"url\":\"https:\/\/ifintechworld.com\/?p=54825\",\"name\":\"Stocks Surge, Tech Stays Strong, Good News For Crypto | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-30T13:52:05+00:00\",\"dateModified\":\"2023-08-30T13:52:08+00:00\",\"description\":\"Key Takeaways Stocks On A Win Streak Tepid Economic Data Gives Hope Inflation Is Cooling Court Ruling Boosts Crypto Following a weaker than expected\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=54825#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=54825\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=54825#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Stocks Surge, Tech Stays Strong, Good News For Crypto\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Stocks Surge, Tech Stays Strong, Good News For Crypto | iFintechWorld","description":"Key Takeaways Stocks On A Win Streak Tepid Economic Data Gives Hope Inflation Is Cooling Court Ruling Boosts Crypto Following a weaker than expected","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=54825","og_locale":"en_US","og_type":"article","og_title":"Stocks Surge, Tech Stays Strong, Good News For Crypto | iFintechWorld","og_description":"Key Takeaways Stocks On A Win Streak Tepid Economic Data Gives Hope Inflation Is Cooling Court Ruling Boosts Crypto Following a weaker than expected","og_url":"https:\/\/ifintechworld.com\/?p=54825","og_site_name":"iFintechWorld","article_published_time":"2023-08-30T13:52:05+00:00","article_modified_time":"2023-08-30T13:52:08+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/08\/1693403526_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=54825#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=54825"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Stocks Surge, Tech Stays Strong, Good News For Crypto","datePublished":"2023-08-30T13:52:05+00:00","dateModified":"2023-08-30T13:52:08+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=54825"},"wordCount":810,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=54825#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=54825","url":"https:\/\/ifintechworld.com\/?p=54825","name":"Stocks Surge, Tech Stays Strong, Good News For Crypto | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-30T13:52:05+00:00","dateModified":"2023-08-30T13:52:08+00:00","description":"Key Takeaways Stocks On A Win Streak Tepid Economic Data Gives Hope Inflation Is Cooling Court Ruling Boosts Crypto Following a weaker than expected","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=54825#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=54825"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=54825#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Stocks Surge, Tech Stays Strong, Good News For Crypto"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54825"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54825\/revisions"}],"predecessor-version":[{"id":54827,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/54825\/revisions\/54827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/54826"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}