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Neither the Dow nor bitcoin prices were decisive after Wednesday's bell, though US President Donald Trump's eloquent rhetoric has provided more than enough entertainment for investors on Wall Street and Main Street.
Dow Calm as the stock market enters a mid-week session
At 10:50 am, Eastern time, the Dow Jones Industrial Average index had risen by 34.22 points, or 0.13%. The S & P 500 rose 3.91 points or 0.14%, while the Nasdaq rose 23.17 points or 0.31%.
Futures plotting the Dow Jones Industrial Average Index (blue), the S & P 500 (red) and the Nasdaq (orange) were traded laterally before the opening bell.
Tuesday, the three US stock indexes recorded minor gains, so small that it was necessary to squint to see them.
The Dow added 8.07 points or 0.03%, just a trading session after beating 443 points. The Dow might have even traded lower without Walmart's outstanding results report.
The Nasdaq rose 14.36 points or 0.19%, closing at 7,486.77.
Donald Trump takes the only credit to save the stock market from collapse
The S & P 500, meanwhile, closed at 2,779.76, after rising 4.16 points or 0.15%. The consumer index is facing strong resistance at 2,800, and bearish analysts have warned that failing to cross this course could herald moderate to severe stock market sales.
Some stock market analysts believe the S & P 500 will return significantly if it fails to break the 2,800-seat mark in the near term. | Source: Twitter via MarketWatch
This tweet, written by a financial analyst Logan Mohtashami, came in response to US President Donald Trump's bombing claim that his election was the only thing that saved the stock market from a total collapse in 2016
By writing on Twitter, Trump said the stock market would have collapsed by at least 10,000 points now if the Democrats had won the 2016 election.
If the opposition party (no, not the media) had won the election, the stock market would have lost at least 10,000 points now. We ride, ride, ride!
– Donald J. Trump (@realDonaldTrump) February 19, 2019
While Trump almost certainly spoke in a hyperbolic way, let's see what he says about it. The Dow closed at 18,332.74 on November 8, 2016 – election day – and climbed more than 41 per cent in the next two years to close at $ 25,891.32 on Tuesday. According to Trump, the Dow Jones should have at least collapsed to 8,332.74, which would represent a 55% drop from election day and an implosion of 67% from the current level.
Donald Trump's claim that he is the only one to have saved the stock market from collapse is a bit serious, even for him.
It is true that Trump and his advisers have the power to exert extraordinary influence on the day-to-day movements of the stock market, as evidenced by the government saga of closure and the ongoing trade war between the United States and China. .
However, taking the unique credit for a swing of 17,558.58 Dow points seems a tad humorous, even for Trump.
And given the intimate relationship between Hillary Clinton and the New York financiers, it is unlikely that his administration would have adopted the kind of anti-capital policies favored by progressives anyway.
On the other hand, a potential Bernie Sanders presidency is not likely to inspire confidence at the heart of the bulls on Wall Street – but this debate can wait until the election year.
Bitcoin award continues to test $ 4,000
The cryptocurrency market is just as quiet ahead of the US trading session, but few viewers expect to stay so long as the price of bitcoin has begun to test the $ 4,000 mark.
The bitcoin price is $ 4,000, and Ethereum may be grateful for its latest rally.
Analysts are struggling to find an explanation for the rally that has pushed bitcoin to a 40-day high, and mainstream media have tended not to break the straw. Bloomberg, for example, credited JP Morgan's so-called "cryptocurrency" project with boosting the market, even though it was not really a cryptocurrency. , others predicted that it would be a "bitcoin killer", and the bank announced JPM Coin several days before market began to grind higher.
Ethereum's tough fork fiasco may have launched its market higher
For his part, Mati Greenspan, Senior Market Analyst at eToro, discussed the possible delay of the Ethereum hard fork in Constantinople.
In addition to delaying the activation of a number of software upgrades, pushing the fork has allowed Ethereum's "bomb of difficulty" to activate. Implemented to ensure that Ethereum is forced to activate a fork hard on a certain date, the difficulty bomb regularly increases the difficulty of extraction, slowing down the creation of new currency units. .
The Ethereum emission rate has now fallen to its lowest level and Greenspan says that, combined with steady demand, the price of ethereum – and by extension, the crypto market – has risen.
This is the picture that has somehow started this gathering.
The new Ether put on line is less than 13,000 for the first time in history. In general, it is between 20 and 30,000 people a day, but it has decreased recently because of the delay in #ConstantinopleHardFork.
Less offer + stable demand = ? pic.twitter.com/PCibT7DXdI
– Mati Greenspan (@MatiGreenspan) February 19, 2019
In his daily comments on the markets, Greenspan wrote:
"This shortage of supply while demand has remained constant has caused a dramatic rise in the price of Ethereum and the rest of the cryptos has followed. Today, we continue our momentum. After months of depressed prices, it was time for us to witness a real recovery in this market. "
Crypto market capitalization adds $ 15 billion in one week
Whatever the root cause, the cryptography market seems to keep its gains at the beginning of the week, at least for now.
The increase in the volume of transactions contributed to the recovery of the cryptography market. | Source: CoinMarketCap
At the time of writing, the bitcoin price was close to $ 3,905 on Bitstamp, while it was $ 3,873 for 24 hours and $ 4,000 less than psychological resistance. The global market capitalization of cryptocurrency is now trading at $ 136 billion, an increase of more than $ 15 billion over the past seven days. The volume of transactions, meanwhile, has exceeded $ 30 billion.
Featured image of REUTERS / Jim Young. TradingView Price Charts.
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