Market and Tech Highlights: Optimism Rises, Crypto Regulations, Political Developments, and More
- Shams Ul Zoha
- July 19, 2023
- 4:34 pm
WHAT YOU SHOULD KNOW
- Investor sentiment improves as the Dow rises for the seventh consecutive session, signaling positive trends in the US markets.
- The Australian Securities Regulator revokes the license of FTX’s local arm, impacting cryptocurrency services in the country.
- GOP Presidential candidate voices concerns over a potential Trump indictment in the January 6 probe.
Market Updates: Investor optimism improves as the Dow registers seven consecutive sessions of gains. Meanwhile, Goldman Sachs is expected to report declining Q2 earnings. In the crypto sphere, Australia’s Securities Regulator cancels FTX’s local arm’s license, and Robert F. Kennedy Jr. proposes backing the dollar with Bitcoin and eliminating capital gains taxes on apex crypto.
Political Developments: In US politics, a GOP Presidential candidate expresses concerns over the potential indictment of Donald Trump in the January 6 probe, while DeSantis opposes charging Trump for insurrection. Internationally, Kim Jong Un’s regime shows disinterest in nuclear talks with America, and tensions escalate with Ukraine reporting a powerful attack on the Odesa port by Russia.
Tech and Electric Vehicles: Google reportedly plans an internet detox program for employees to bolster cyber defenses. TikTok prepares to compete with Spotify and Apple Music, and the UN holds a historic meeting on AI. Tesla’s Q2 margin shrinkage raises questions, but analysts emphasize the company’s long-term prospects. VinFast aims to produce 150K EVs per year in the US, and Elon Musk’s tweet hints at Tesla’s Cybertruck pricing strategy.
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