Opinion: Market volatility could increase if this week's PCE data deviates from expectations
Crypto markets showed signs of recovery over the weekend, but the U.S.’s busy economic schedule this week could re-energize the bear market, CryptoPotato reported. The Fed's key inflation gauge, which could influence future monetary policy, will be in focus.
Macroeconomic media Kobeissi Letter highlights the key events of the week. Key events this week include: March new home sales data (Tuesday), durable goods orders data (Wednesday), U.S. first quarter 2024 GDP data (Thursday), March pending home sales data (Thursday), March Monthly PCE inflation data (Friday). Additionally, approximately 20% of SP 500 companies will report quarterly results this week.
The total crypto market capitalization returned to and remained at the $2.5 trillion level over the weekend, with Bitcoin leading the market following its fourth halving event. Ethereum recovered back to $3,200 and is trading at $3,225 after a slight correction. Altcoins such as LINK, NEAR, and DOT were also mostly in the green on Monday morning. Market volatility could increase if the PCE data later this week deviates from expectations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SpaceX (SPCX.US) revenue doubles and plans to merge with Tesla (TSLA.US), Super Micro Computer (SMCI.US) sees explosive growth in performance
SpaceX reported revenue of $14.58 billion in Q3, and Elon Musk revealed that merger discussions with Tesla are underway; Super Micro Computer's preliminary results exceeded expectations, with shares rising 15.6% after hours. The Dow Jones surged more than 500 points, while Netflix dropped over 5% after hours due to weak guidance.
SpaceX (SPCX.US) Financial Report Reversal: SI Revenue Slightly Up with Marginal Profit, Link Dominates Major Profit Share
SpaceX's Q3 financial report shows revenue increased by 161%, turning losses into profits. SI contributed three-quarters of the incremental revenue, though with thin margins, while Link contributed 85% of operating profit. Capital expenditure guidance for the next quarter is $35-40 billion, mainly allocated to SI infrastructure.
More Than Just Rumors! SpaceX (SPCX.US) and Tesla (TSLA.US) Begin Merger Talks as Musk Bets on AI Super Synergy
Elon Musk stated that both SpaceX and Tesla have established special committees to discuss merger matters. His response that "merger is a good idea" publicly supports this concept, which could potentially create one of the world's most valuable companies.
Crypto prices
More
