"Money in the Bank!"

Hi There! The beauty of exploring different cultures always draws me in, and this week, I found myself diving into the traditions of the Chinese New Year. Being a Snake in the Chinese Zodiac, I'm naturally curious about what each new year brings, especially for others. Now, in 2024, we've entered the Year of the Dragon, and it feels like a special moment, particularly for those born in dragon years 1940, 1952, 1964, 1976, 1988, 2000, and 2012. Dragons are celebrated for their dynamic charm, distinctiveness, and leadership - qualities that I admire. In Chinese culture, the dragon stands for strength, luck, and wisdom, and it's said that this year will be supportive of growth in all areas of life, echoing my own hopes for "Advancement" in 2024. It's as if the year itself is inviting me to reach higher and dream bigger.

Alright, let’s dig in!

Last week, the stock market faced a tough reality check with inflation readings indicating rising prices, challenging earlier hopes for interest rate cuts. This shift dampened investor optimism, fearing that potential rate cuts might not herald a smooth economic path but rather signal deeper issues. This concern led to a downturn in the markets, breaking a five-week streak of gains. Specifically, the S&P 500 dropped by 0.42%, the Dow by 0.11%, and the Nasdaq fell significantly by 1.34%, all ending their winning streaks on a negative note due to unsettling wholesale price data suggesting inflation isn't as under control as hoped.

In detail, January's producer price index, which measures wholesale inflation, rose by 0.3% against an expected 0.1%, while the core PPI, excluding food and energy, saw a 0.5% increase, exceeding the 0.1% forecast. This news triggered a spike in the 10-year Treasury yield above 4.3% and pushed the 2-year Treasury yield to its highest since December, surpassing 4.7%.

On a brighter note, the energy sector saw some gains with U.S. crude oil prices rising about 3% for the week, reaching the highest price since November. Specifically, West Texas Intermediate crude for March delivery went up by 1.49% to $79.19 a barrel, and April Brent futures increased by 61 cents to settle at $83.47 a barrel.

In the cryptocurrency space, there was a glimmer of hope as Coinbase, a leading crypto exchange, reported its first quarterly profit in two years, suggesting a potential thaw in the crypto winter. This development offers a mixed view of the financial markets, with traditional stocks facing pressure from inflation concerns while certain sectors and crypto show resilience or recovery signs.

Here are other key highlights from last week:

• Bitcoin dropped 2% on hotter-than-expected U.S. inflation

• Aptos joins crypto smartphone race with JamboPhone

• Mastercard launched NFT UEFA Champions League trivia game

• Arbitrum lending protocol, Dolomite, launched on Polygon’s zkEVM

This week in the financial world was packed with key events and updates: 

On Wednesday, the Federal Reserve released the minutes from its latest meeting, offering insights into the central bank's economic outlook and policy considerations. The following day, Thursday, was busy with the release of Services and Manufacturing PMIs, which measured the health of the service and manufacturing sectors, respectively. Additionally, data on Existing Home Sales was published, providing a glimpse into the real estate market's current state. Throughout the week, several Federal Open Market Committee (FOMC) members, including Bostic, Bowman, Jefferson, Harker, Cook, Kashkari, and Waller, shared their thoughts and perspectives, contributing to a broad understanding of the Fed's views on various economic matters. In the corporate sphere, NVIDIA (Nasdaq: NVDA) made headlines by surging 15% to reach a new record high, highlighting a significant achievement for the tech giant amidst the week's financial activities.

The most anticipated earnings released this week are outlined in the chart below.

Trading Tip: Identify trends on a higher timeframe; refine entry and exit on a lower one for optimal trades!

Week 2/11/24 - 2/17/24 Recap

Special Tools and Strategies

10 Essential Cryptocurrency Investment Tips for Beginners

1. Read the White Paper: It's like the project's blueprint, explaining what it aims to do, how it works, and its future plans. Think of it as a detailed guide about the cryptocurrency.

2. Question the White Paper's Claims: Don't take everything at face value. Be critical of what's promised and look out for any unrealistic goals or red flags.

3. Compare with Others: Many cryptocurrencies fail. Make sure the one you're interested in has a solid plan and stands out from competitors.

4. Research the Team: The success of a cryptocurrency often depends on the people behind it. Look into their backgrounds and expertise.

5. Check On-Chain Activity: Look at data like transaction counts and active users to gauge the cryptocurrency's popularity and usage.

6. Understand Tokenomics: Focus on cryptocurrencies with a clear use and consider how tokens are created, used, and what influences their price.

7. Look at Market Stats: Metrics such as market cap, trading volume, and liquidity tell you about a token's stability and ease of trading.

8. Community Support: A strong, active community can drive a cryptocurrency's success. Check out the vibe and involvement of its user base.

9. Marketing Matters: Good marketing can help a project stand out. See how the team promotes their token and attracts users.

10. Try It Out: If possible, use the cryptocurrency or its platform. It's a great way to understand its value and functionality firsthand.

Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.