Bi Weekly Market Review - Edition #3

For the period 1st - 15th July

Dear FOMOdrive community members,

Welcome to Edition #3 of our Bi-weekly Market Review covering market news from 1st - 15th July. As we unpack the latest market updates and trends.

Summary

- BlackRock CEO, Larry Fink, identifies Bitcoin as an "international asset" and wants to simplify and reduce the costs of investing in it.

- Ripple Labs Inc. was ruled by a U.S. judge not to have violated federal securities law by selling its XRP token on public exchanges, leading to a surge in XRP's value.

U.S. Federal Reserve officials suggest that a further rise in interest rates might be required to control high inflation, but the end of the current monetary policy tightening cycle is near.

- In response to cooling inflation data in the US, gold prices rallied during the second week of July while the dollar experienced its largest weekly decline since November 2022.

Major Market News

Crypto

- Bitcoin touches a 13-month high as the drumbeat for institutional demand grows louder: source CNBC

- SEC Formally Accepts BlackRock Spot Bitcoin ETF Application for Review, source: yahoo!finance

- Ripple Labs notches landmark win in SEC case over XRP cryptocurrency, source: Reuters

Equities

- Wall St ends up, extends recent gains on cooling US inflation, source: Reuters

- Tech Stocks Lead Market Higher After Inflation Falls, source: The Wall Street Journal

Bonds and Interest Rates

- Inflation Eased to 3% in June, Slowest Pace in More Than Two Years, source: The Wall Street Journal

Commodities and Currencies

- Gold Price Rallies After Inflation Eases in June, source: The Wall Street Journal

- Dollar notches biggest weekly drop since November after fall in inflation, source: FT

Learning Corner

Quote of the Day:

“The intelligent investor is a realist who sells to optimists and buys from pessimists.”- Benjamin Graham

Educational Spotlight:

As part of our journey towards enhancing your financial literacy, we are sharing this article titled "Understanding Stock Market Volatility." This guide explains the concept of market volatility and its drivers. If you would like to learn more, you can check it out here.

We hope you found this edition of the Bi-weekly Market Review informative and useful. As always, we welcome your feedback.

Until next time. Stay informed