As an experienced analyst, I’ve closely monitored the market reactions following the US Federal Reserve (Fed) meeting. While most analysts anticipated unchanged interest rates, the anticipation leading up to the meeting caused a sell-off in US stocks and crypto assets. However, with the Fed keeping rates steady, US stocks have picked up the pace, posting slight daily gains.
In the past two days, discussions about the US Federal Reserve meeting have taken center stage in financial markets. Analysts are trying to forecast the implications for US stocks based on the anticipated Fed decision. The stock market has experienced modest growth over the previous 24 hours as traders digest the expected outcome of the hawkish Fed meeting.
Today, the Federal Reserve of the United States kept interest rates steady, a decision in line with the expectations of many market players. The current interest rate stands between 5.25% and 5.50%. The Fed remains vigilant in its efforts to combat inflation.
As a crypto investor, I’ve noticed an unexpected turn of events yesterday. Despite anticipation for unchanged rates given inflation levels above the benchmark 2%, US stocks and the crypto market took a nosedive. Companies like Tesla, Microsoft, Alphabet, and Nvidia had closed the previous day with minor losses. However, there’s been a positive shift in the last 24 hours as improved figures have emerged.
US Stock Pick Up The Pace
US stocks have experienced minor daily advances following their previous decline in expectation of the Federal Reserve’s decision. Currently, Apple (AAPL) is priced at $172.12, representing a 1.05% rise over the last 24 hours. This new growth contributes to its weekly upward trend as other US stocks also rise.
Amazon’s stock price currently hovers at $183.17, marking a 4.6% rise. Microsoft and other leading stocks experienced a 2% increase. Some analysts attribute this upward trend to the expectation of stable interest rates in the market.
The Federal Reserve keeps interest rates steady to closely watch inflation, with major financial institutions such as JP Morgan predicting potential reductions around the third quarter.
The Committee believes it may not be right to lower the target range until they are more certain that inflation is on a steady path towards reaching 2%.
Crypto Assets Plunge
After the Federal Reserve announced its decision, the cryptocurrency market continued to show low activity with Bitcoin priced at $58,910 – representing a 2% decrease on the day and an extension of weekly losses for leading digital assets.
As a crypto investor, I’ve noticed that altcoins, just like Ethereum, Solana, and Dogecoin, experienced significant liquidations during the same period. Unfortunately, all of these digital assets reported weekly losses. Furthermore, macroeconomic factors have hindered the market’s expansion, erasing any post-halving momentum we had gained. Bulls had been aiming for a powerful run, but these external pressures have put a damper on our plans.
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2024-05-01 22:27