Another milestone in the crypto space! Next week, Coinbase will be included in the S&P 500 Index.
Coinbase joins the S&P 500 Index shortly after Bitcoin breaks the $0.1 million mark. Crypto Assets are increasingly becoming a part of the American Financial system. Large Institutions have received regulatory approval to create spot Bitcoin Exchange-Traded Funds, further pushing the mainstreaming of Cryptos.
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Paying for tariffs! The average price of new cars in the USA in April has reached the highest increase since the pandemic.
After deductions for discounts and promotions, the average price of new cars in the USA in April increased by 2.5% compared to March, far exceeding the typical increase of 1.1% during the same period in recent years. The only larger increase in the past decade occurred in April 2020, when prices rose by 2.7% due to factory shutdowns related to the pandemic.
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The bullish outlook from the China-US trade has ignited the enthusiasm of buyers, causing the Market Cap of the "Seven Giants" in the US stock market to soar by 6 trillion overnight!
① On Monday, following the agreement between China and the United States to mutually lower tariffs, the US stock market surged significantly; ② the Market Cap of the Magnificent 7 skyrocketed by 837.5 billion USD (approximately 6 trillion RMB), marking the largest increase since April 9. ③ Analyst Ives from Wedbush predicts that the US stock market and Technology stocks will reach new highs in 2025.
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Express News | In Overnight Trading, Coinbase Extends Gains, Soaring 10% as It Will Join the S&P 500 Index Next Monday. For Quantum Computing Stocks, RGTI Falls 13%, as Q1 Earnings Miss Expectations, QUBT Drops 5%, QBTS Shares Down 3%
U.S. stock market close: The Nasdaq surged over 4%, Chinese concept stocks performed even stronger, and the Golden Dragon Index outperformed the Large Cap.
① High-level economic and trade talks between China and the U.S. exceeded expectations, boosting U.S. stocks; ② Both the S&P and Nasdaq hit new closing highs since March 3; ③ NVIDIA rose over 5%, with its Market Cap returning to above 3 trillion; ④ Trump: Will investigate pharmaceutical companies if necessary.
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