This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.
Holding the Monday bounce, not much more yet, as traders wait for Jerome Powell to add some nuance and push back against the more hawkish market interpretations of the Fed's slight tilt in outlook last week. Yet with the market having fully reversed Friday's off-balanced tumble, unclear how much more soothing is required or how effective it would be in the short term.
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China's renewed crypto crackdown wipes nearly $300 billion off the market as bitcoin slidesSince Friday, China has stepped up its efforts to rein in the country's cryptocurrency industry from mining bans to warnings to financial institutions. Another nice try . Keep up the FUD! Plenty of diamond hands to buy the dip. Saylor is not our only Bitcoin Jesus. Crypto currency is an imaginary money scam. There is no basis in the value. It's just let's make imaginary money with no gold backing. Everyone that loses their shirt 100% deserves it. same recycle 2018. nothing new repaet n repeat but btc is still there haha.
Source: CNBC - 🏆 12. / 72 Read more »
5 things to know before the stock market opens MondayDow futures bounced Monday, after the 30-stock average posted its worst weekly loss since October. T
Source: CNBC - 🏆 12. / 72 Read more »