Major U.S. stock market index S&P 500 manages to secure a four-month winning streak, despite a negative close on today's trading.
Nvidia's strong earnings report on Thursday couldn't shield the company from a 3% decline, as concerns over alleged breaches of China's anti-monopoly law persist. Meanwhile, the S&P 500 closed at 6,460.26 on Friday, securing a fourth consecutive monthly gain despite a 0.64% decrease.
Caterpillar, on the other hand, is bracing for a potential loss of between $1.5 billion and $1.8 billion this year due to President Trump's tariff plans. Elsewhere, hackers have seized the FBI's botnet takedown targets and built a stronger cyberweapon from them.
In the world of cryptocurrency, one user lost $1M USDC to a MEV bot after a mistaken transaction. Gold futures are up about 31%, currently near $3,473, due to several factors including deglobalization, political risks, and the U.S. structural deficit. Alibaba's U.S.-listed shares surged about 13% due to the development of a more advanced chip.
Bitcoin Dominance continues to fall as its price consolidates, while Gold is expected to reach $4,000/oz according to Bank of America's short-to-medium term target. Monero is facing a growing double-spending threat after a block reorganization.
Santander's Openbank is rolling out Bitcoin, Ether, and more for European users, and Pantera Capital has backed Solana with a $1.1B bet, predicting Bitcoin to reach $750K. One cryptocurrency is predicted to grow by 3,000% in 2025, although the specific currency remains undisclosed.
Some altcoins are considered good investments right now, with Chainlink, VeChain, Remittix, or Ripple (XRP) being potential candidates for significant growth in 2025. Pi Network is beginning the final Testnet1 upgrade ahead of its mainnet transition.
In the crypto ETF market, XRP and Dogecoin ETFs are set to launch this week. The Rex-Osprey DOGE ETF, initially planned to start trading in the USA around September 12, has been postponed, with a new date yet to be announced.
In the stock market, the Nasdaq Composite dropped 1.15% to 21,455.55, and the Dow Jones Industrial Average shed 0.20% to 45,544.88. Core PCE inflation rose to 2.9% in July, the highest since February, matching expectations.
Trump's economic policies are raising alarms in sectors exposed to trade friction, with Caterpillar being a notable example. The UAE M2 crypto exchange has dropped its business model, and Next Technology has filed for a $500M common stock offering to buy more Bitcoin.
Lastly, Solana creators have received $19.3M from Pump.Fun streams, and Larry Ellison is currently involved with OpenAI, Paramount, Warner Bros., and TikTok. Stay updated on crypto news for daily updates in your inbox.
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