SEC Twitter HACKED: Bitcoin ETF Hoax

The SEC's Twitter account hack sparks...

Author

Kenny
January 10, 2024

HOT OFF THE PRESS🔥
📈SEC Twitter HACKED: Bitcoin ETF Hoax

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The SEC's Twitter account hack sparks Bitcoin volatility and concern amongst investors. Meanwhile, NVIDIA experiences an unconfirmed breakout, reaching 6.4% gains and projecting a 15% increase. .

Buckle up!

BIG IDEA 1💡
SEC Twitter Hack Sparks Bitcoin Frenzy, NVIDIA Breakout, and Nikkei Milestone

  • The official SEC Twitter account was compromised, leading to a false announcement of Bitcoin ETF approval.

  • SEC Chairman Gary Gensler clarified the unauthorized tweet, emphasizing that the SEC had not approved the listing and trading of spot bitcoin exchange-traded products.

  • The misleading post briefly spiked Bitcoin prices, followed by a 2.7% dip to $45,784.74; Coinbase (NASDAQ: COIN) also experienced a 1.4% decline.

  • NVIDIA (NASDAQ: NVDA) surged 6.4% on Monday amid lower treasury yields, positive analyst comments, news of a cheaper AI chip for China, and CES in Las Vegas.

  • Fairlead Strategies analysts highlighted an unconfirmed breakout as NVIDIA cleared key resistance near $504, indicating a bullish intermediate-term development.

  • The breakout, supported by a new "buy" signal on the weekly MACD, projects an initial target of ~$602, signaling a 15% increase.

  • Japan's Nikkei 225 index jumped 1.3%, crossing the 34,000 level for the first time since January 1990.

  • The rally began in mid-2023, fueled by expectations that the Bank of Japan (BOJ) would delay plans to end its ultra-loose policies.

  • The Nikkei 225 was the best-performing major stock index in 2023, rallying about 30% compared to the S&P 500's 24% increase.

BIG IDEA 2💡
Market Watch: Goldman Sachs Advises Caution Amid Bullish Trends

  • Goldman Sachs strategists provided insights into market sentiments, advising clients against interpreting elevated bullish positioning as inherently bearish.

  • The absence of significant macroeconomic deterioration suggests that such sentiment doesn't necessarily indicate bearishness.

  • The baseline scenario supports resilient growth and cooling inflation in 2024, with caution about potential risks.

  • Boeing (NYSE: BA) faced scrutiny as loose parts were reportedly found on some grounded models of its 737 Max 9 jet.

  • Match Group (NASDAQ: MTCH) surged over 10% on reports of activist investor Elliott Investment Management amassing a stake of approximately $1 billion.

  • Juniper Networks (NYSE: JNPR) soared over 22% amid advanced negotiations for its acquisition by Hewlett Packard Enterprise (NYSE: HPE) for approximately $13 billion.

  • Oil prices rebounded after Monday's losses, with U.S. crude futures trading 2.4% higher at $72.44 a barrel and the Brent contract climbing 2.2% to $77.80 a barrel.

  • Concerns about sluggish demand and Middle East tensions influenced the sharp price cuts by top exporter Saudi Arabia.

  • Gold futures rose 0.2% to $2,036.90/oz, while the EUR/USD pair traded 0.1% lower at 1.0934.

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The Pour Over

The same stories you'll hear about anyway (stock market, celebrities, impeachment, Elon Musk's twitter), but with reminders to focus on eternity. Get access to "The Chick-Fil-A of news sources".

TAKEHOME MESSAGE📬
Crucial Insights for Investors Amidst Technological Hacks and Market Sentiments

Takeaway: With technological hacks and mixed sentiment in the markets investors are advised to stay informed and exercise caution. The upcoming week, marked by the release of crucial U.S. inflation data, intensifies anticipation and underscores the prevailing cautious sentiments within the financial markets.

QUOTE CORNER📄
Our Favorite Quote

INFLATION REPORT💸
Today’s Inflation Rate: 2.17%

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THE MONEY IDEA💡
Pro: 5 The Three Best Stocks to Own and Forget About

The 5 Picks:

Pinpointing stocks with enduring potential can be a tough task. However, three standout stocks, Amazon, MercadoLibre, and Shopify, not only epitomize innovation and growth but also exhibit the characteristics that make them prime candidates for long-term investment success.

Here is a breakdown of the 3 long-term picks:

THE MONEY IDEA💡
Spotlight: Discount Dividend Opportunities for 2024

Amazon (AMZN)

  • Renowned for revolutionizing e-commerce, Amazon's diversified revenue streams, including subscriptions and advertising, contribute significantly to its financial prowess.

  • The inadvertent success of Amazon Web Services (AWS) in cloud computing has made it the industry leader, showcasing Amazon's adaptability and resilience.

  • With a robust financial performance, including $405 billion in net sales for the first nine months of 2023 and an 85% stock increase, Amazon stands tall as a long-term investment opportunity.

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