Shares of Core Scientific, a Bitcoin mining company, jumped over 20% in the past week, driven by anticipation of a Federal Reserve interest rate cut and the company’s ambitious AI data center expansion plans. The Fed’s decision to lower rates, boosting risk assets like stocks and cryptocurrencies, further fueled the rally.
Cryptocurrency markets traded relatively flat following the Federal Reserve’s announcement of a 50-basis-point interest rate cut. Bitcoin attempted to break through a key trend line, with a close above $61,500 potentially signaling a bullish continuation. Meanwhile, institutional interest in Bitcoin continues to grow, with ETFs buying more than 100% of newly mined BTC.
Enphase Energy, a leading provider of solar energy solutions, is seeing its stock rise after the Federal Reserve cut interest rates. Lower interest rates make solar projects more affordable, potentially boosting demand for Enphase’s products. This article explores the impact of the Fed’s decision on Enphase and examines whether the stock is a good investment opportunity.
Goldman Sachs has reaffirmed its bullish outlook on gold, citing increased central bank demand and expectations of a Fed rate cut. However, the investment bank downgraded its iron ore price forecast due to oversupply concerns despite stabilizing demand from China.
US stock markets closed with a mixed performance on Wednesday, driven by a cooling labor market and speculation about a potential Fed rate cut. The S&P 500 and Nasdaq dipped, while the Dow edged higher. Global markets displayed varied performance, with Asian indices showing mixed results and European markets mostly declining. Commodity prices saw mixed movement, with crude oil rebounding from multi-month lows but gold and silver experiencing gains.
This week in India, the IPO market is thriving with six new public issues scheduled. Meanwhile, experts weigh in on the impact of the Fed rate cut on gold prices, which have been declining in September. Heavy rainfall continues to batter coastal Andhra Pradesh and Telangana, leading to evacuations and casualties.
