Wed, Feb 7, 2024 4:20 PM
Taking Stock: Markets end flat in a choppy session ahead of RBI meet!
A Flip by Avya Verma
The US stock market’s strongest two-year rally since the dot-com bubble is heading into its next big test as companies start releasing quarterly earnings, providing a major gut check on whether valuations have outrun the underlying reality. On Friday, the S&P 500 Index slid 1.5% as an unexpected surge in hiring solidified speculation that the Fed won’t cut interest rates again until H2 of 2025.
Open Flip
As the crypto industry rides another bull cycle into 2025, there is renewed optimism that decentralized finance, or DeFi, will see a wave of mainstream adoption. The technological advantages of doing so are enormous as Robinhood CEO Vlad Tenev set out in a recent observation on the efficiencies of using DeFi. Fintech companies rarely own the financial infrastructures that power their products.
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UK Chancellor of the Exchequer Rachel Reeves sought to allay market concerns over the government’s fiscal position during a trip to China, where she reached deals worth £600 million ($731 million) to the British economy over the next five years. Reeves on Saturday reiterated the Labour government’s goal of pursuing economic growth, including through boosting trade with countries like China.
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