Last night, Powell hinted during his speech that despite the ongoing risks of rising inflation, the Federal Reserve may still cut interest rates in the coming months.
Stimulated by this remark from Powell, global assets surged, with US stocks rallying on Friday. The Dow Jones rose 1.89%, hitting a new all-time high, the Nasdaq increased by 1.88%, and the S&P 500 gained 1.52%.
Large tech stocks experienced widespread gains, with Tesla rising over 6%, Google A up 3.17%, Amazon up 3.10%, Meta up 2.12%, Nvidia up 1.72%, Apple up 1.27%, and Microsoft up 0.59%.
The cryptocurrency market was no exception, also experiencing a significant surge, with Bitcoin, Ethereum, and several altcoins all rallying. Those who profit continue to thrive, while those facing liquidation face dire consequences. In the last 24 hours, nearly 175,000 people across the network lost a total of 740 million. This includes 390 million from Ethereum, making up half of the total, 110 million from Bitcoin, and 35 million from SOL. Currently, those celebrating over the weekend are joyful, while those in distress are troubled, but it doesn't matter much; what the market lacks the least is opportunity—everyone understands that.
