Thursday, June 30, 2022

June 30th stock market update

1- Markets had a flat day yesterday after a rocky day Tuesday:

2- Investors after that consumer confidence data are a bit on ice after realizing that the economy may not be getting better at all.

3- Premarket today is down big with tech down heavy.

4- This is setting up to be the worst first half of the stock market since 1970 as we close out June.

5- Investors will look to see how we finish today and start a new month of July tomorrow.

6- We had several fed members including Powell speak this week and all sided with aggressive rate hikes to fight inflation until it's tamed.

7- Tencent & Bytedance begin layoffs as china goes through economic woes.

8- Grayscale has filed a lawsuit against the SEC regarding spot ETF and asked the US court of appeals to look over the decision.

9- Crypto is down today as bitcoin broke below 20k and is now attempting to find footing on the next support level.

10- The FEDs favorite PCE indicator came in below expectations which provided some slight good news.

11- OPEC+ next meeting will be held in early august.

12- This weeks events and catalysts have come to close so let's see if the markets can hold key levels today.

13- For the S&P 500 it will be 3850 which is the 20% decline level and DOW is 30,000 bear market territory.

14- Bitcoin it will remain 20k!


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