Wall Street shrugged off credit concerns that battered bank stocks on Wednesday, with large-cap indices posting slight gains by midday trading in New York, setting up for a positive weekly close. • AXP is among today’s top performers. Watch the momentum here.The S&P 500 rose 0.2% to 6,650 points, nearly erasing Thursday's losses, while both the Nasdaq 100 and the Dow Jones edged 0.3% higher.After suffering their worst day since April on Wednesday, financials and bank stocks rebounded. The SPDR Regional Bank ...

Core Insights - The crypto market has experienced a significant decline of $500 billion, with BNB initially recovering to an all-time high above $1,350 but recently dropping nearly 6.5% in 24 hours [1] - In contrast, Bitcoin fell by 1.9% and the broader crypto market, as indicated by the CoinDesk 20 index, decreased by 2.9% during the same timeframe [1] - BNB's recent underperformance may be attributed to profit-taking and portfolio rebalancing activities [1] Market Activity - BNB's price fell from $1,286 to $1,165 amid a fragile recovery in the crypto market, with approximately $16 million in BNB positions liquidated in the last 24 hours [2] - To mitigate the impact on retail users, BNB Chain has established a $45 million fund aimed at stabilizing the market and assisting over 160,000 affected traders [2] Trading Dynamics - Market maker Wintermute observed that the sell-off was synchronized and tested the limits of perpetual contract trading platforms, leading to a rapid loss of liquidity in the broader market [3] - Despite the sell-off, corporate accumulation of BNB continues, with China Renaissance, a Hong Kong-listed investment bank, planning to raise $600 million for a publicly traded crypto treasury focused on BNB [3] Investment Initiatives - The proposed vehicle by China Renaissance would represent one of the largest public investments in BNB to date, joining other entities like CEA Industries, which has increased its BNB holdings to 480,000 tokens [4] - The initiative is reportedly supported by YZi Labs, the $10 billion family office of Binance co-founder Changpeng Zhao, who has been promoting BNB-centric investing through exclusive investor events [4]

Group 1 - Jim Wyckoff has over 25 years of experience in stock, financial, and commodity markets [1] - He has worked as a financial journalist and covered various futures markets in the U.S. [1] - Jim is the proprietor of an analytical, educational, and trading advisory service [2] Group 2 - He has held positions as a technical analyst for Dow Jones Newswires and as a senior market analyst with TraderPlanet.com [2] - Jim has also been a consultant for the "Pro Farmer" agricultural advisory service [2] - He was the head equities analyst at CapitalistEdge.com [2] Group 3 - Jim provides daily market roundups and technical analysis on Kitco.com [3]

📊 UPDATE: Profit-taking remains at relatively low levels after Bitcoin reached new all-time highs, suggesting the rally may continue with no top in sight, per CryptoQuant. https://t.co/RFteLWlARm ...

trending altcoins, pump.fun. Photo by BeInCrypto PancakeSwap (CAKE) price has emerged as one of the best performing tokens in the last few days. Owing to the recent airdrop the price surged. However, at the moment the altcoin is facing a major obstacle. The Chinese X account of PancakeSwap was hacked today, with the hacker posting offensive tweets. The team is attempting to resolve this issue. PancakeSwap Account Hacked On-chain data reveals a significant spike in PancakeSwap’s age consumed metric — an ...

Market Overview - The stock market experienced a legitimate pullback, with the Dow dropping 92 points, S&P declining 0.38%, and NASDAQ losing 67 points, indicating a potential for profit-taking after a significant upward trend [1][2]. Selloff Dynamics - The current selloff is characterized by a rally followed by a reversal, leading to early buyers being "underwater," which creates distrust among shareholders who may not want to invest further [3][4]. - Investors who entered the market at high prices may be influenced by bearish sentiments, drawing parallels to past market collapses, such as the dot-com boom [4]. Market Sentiment - There is a persistent narrative that stocks have risen too quickly, with concerns about overvaluation and the potential for a market bubble being common themes throughout market history [5][6].

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another. Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a ...

Market Overview - The Nikkei share average closed at 44,550.85, down 0.85%, marking its lowest close since September 11, and has lost for four consecutive sessions [1][5] - The broader Topix index fell 1.37% to 3,094.74 [1][5] - A significant sell-off occurred as investors took profits from the recent rally that had boosted the Nikkei [1][2] Company Performance - Tokyo Electron, a chip-making equipment manufacturer, experienced a notable surge of 27.6% in September, its largest monthly gain since February 2024, contributing significantly to the Nikkei's record high last month [3][5] - On the day of the report, Tokyo Electron's stock fell by 2.09%, while SoftBank Group, a technology start-up investor, declined by 2.38%, becoming the largest detractors from the Nikkei [4][5] - Advantest, a chip-testing equipment maker, saw a slight increase of 0.17%, following overnight gains in the U.S. chip index [5] Sector Performance - The Tokyo Stock Exchange's 33 industry sub-indexes saw declines, with the bank index dropping 3.07%, making it the worst-performing sector [5] - Major banks such as Mitsubishi UFJ Financial Group and Mizuho Financial Group fell by 3.17% and 3.83%, respectively [5] - The real estate firm index decreased by 2.83%, while drug manufacturers rose by 0.95%, with Otsuka Holdings and Chugai Pharmaceutical increasing by 5.22% and 3.86%, respectively [5] - Overall, 91% of the 1,600 stocks trading on the TSE's prime market fell, while only 7% rose [5]

Key Points The crypto market generally fell in the Sept. 21 to Sept. 28 window; Bitcoin and XRP were down a little over 5% and Ethereum about 10%, while Dogecoin and Solana fell more. The downtrend was inspired by profit taking, a delayed wave of ETF outflows, and a batch of political pressure points. The week appeared to be profit taking, combined with policy jitters, rather than a thesis changer for either bulls or bears. 10 stocks we like better than Bitcoin › The crypto sector took a collecti ...

Stock prices rose Monday, but futures are down ahead of the market open on Tuesday. gettyStock prices rose Monday for a second day of gains, despite a fast-approaching deadline to avoid government shutdown. A high-profile meeting between Republican and Democratic leaders on Monday ended without a deal, raising the likelihood of a government closure Wednesday at 12:01 a.m. ET. The Democrats want permanent health care subsidies for people who buy insurance through the Affordable Care Act. Tax breaks associate ...