Stocks Remain Steady Despite Trump Outbursts on Broad Markets
In the world of finance, the past week has seen a blend of positive and negative trends. Here's a roundup of some key developments:
The Cambria Global Asset Allocation ETF, a diverse portfolio encompassing stocks, bonds, real estate, and commodities, has recorded a notable 9% rise. This growth underscores the resilience of the global market, despite lingering economic concerns.
Stock performance, on the other hand, seems to be driven more by earnings than broader economic worries. The S&P 500 has experienced a remarkable 26% increase since the lows in April, reaching close to its all-time high. The traditional 60/40 portfolio has also seen a 6% increase.
On the crypto front, Solana (SOL) has shown strong performance, with a 5% increase in the last 24 hours and a 22.99% gain over the past week. Ethereum, too, has seen a surge, trading at $3,686 and up 24.41% in the past week. However, the global crypto market cap has taken a slight dip, standing at $3.88 trillion, reflecting a 1.13% decrease in the last 24 hours.
Interestingly, cross-asset correlations, which measure the extent to which equities, bonds, credit, and commodities exhibit synchronized movements, have reverted to their 10-year average. This reset in correlation has assuaged concerns for those managing diverse portfolios and restored confidence in the benefits of diversification.
In the crypto sector, Quranium, a quantum-proof blockchain, was founded in 2024. It combines AI-native architecture, EVM compatibility, and quantum security. Despite extensive searches, the identity of the company or person behind this project remains undisclosed.
The June-quarter earnings season has commenced with impressive momentum. Notably, Bitcoin has impressively surged by over 50% since the lows in April, demonstrating a strong independent trajectory. However, Bitcoin Spot ETFs saw a $131 million outflow, ending a 12-day inflow streak, while Ethereum Spot ETFs experienced a substantial $297 million inflow, extending their streak to 12 consecutive days of inflows.
Despite President Donald Trump's criticisms of Fed Chair Jerome Powell and differing opinions among central bankers regarding interest rates, markets remained largely unfazed in the past week. Gold, often seen as a safe-haven asset, has reasserted its role as a valuable diversifier, surging towards $3,400/oz and up an impressive +27% year-to-date.
Lastly, it's worth mentioning that the markets are not governed by fear; rather, they are demonstrating a coherent internal rationale. This is evident in the market's reaction to earnings results, which is currently more severe for those that miss expectations than it has been in almost three years.
In other news, Blockcast is a media partner of Coinfest Asia 2025. As the market continues to evolve, keeping up with these developments is crucial for investors and enthusiasts alike.
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