Thursday's Final Takeaways: Crypto Lags as China Trade War Looms

Economic Indicators - The Beige Book indicates rising tariffs are pushing consumer prices higher, leading to increased inflation and consumer fatigue as spending on non-essentials slows down [2][3][4] - Wage growth is reported in some districts, but it is insufficient to offset the impact of higher prices on consumers [4] Cryptocurrency Market - The total crypto market cap has fallen by 2.5% to approximately $3.6 trillion, which is about 10% lower than the previous week [5] - Among the top 100 cryptocurrencies, 94 have seen a decrease in value over the past 24 hours, with weak ETF flows indicating declining institutional demand [5] Trade Relations - China's efforts to reassure global markets about the continuity of rare earth exports are highlighted, with state media emphasizing compliance for civil use while banning military applications [7] Upcoming Earnings - American Express is expected to report a revenue growth of 7.9% year-over-year to $13.45 billion, with EPS estimated at $3.98 per share [8][9] - The performance of American Express is viewed as a proxy for consumer spending health, particularly in the premium segment [9] Energy Sector - The energy sector is under pressure, with oil and natural gas prices declining amid geopolitical developments, including discussions between the US and Ukraine regarding gas imports [11][12][13]