Goldman Sachs now sees three consecutive Fed rate cuts this year
https://www.forexlive.com/centralbank/goldman-sachs-now-sees-three-consecutive-fed-rate-cuts-this-year-20240802/
https://www.cnbc.com/2024/08/02/intel-share-plunge-drags-down-global-chip-stocks-from-tsmc-to-samsung.html
Holy Moly. Intel being destroyed being late to the AI chip party.
PS: don´t even think to cover your shorts before 5400, in my humble opinion. But be prepared for V shape action today. NFP release will be the all-star factor today.
Sell side people only now finding out that some stocks are "overvalued". Sell side analysts have been fired en masse because they are not predicting the right S&P 500 targets.
Academic research
Research by Griffin and Shams found that Bitcoin prices increased after Tether minted new USD₮ during market downturns. They speculated this was an attempt at market manipulation.[54] These findings were contested by the Bitfinex cryptocurrency exchange who claimed the authors...
https://www.cnbc.com/2024/07/31/iran-says-israel-will-pay-heavy-price-after-death-of-ismail-haniyeh.html
Be careful. This could get out of control now.