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Lisa Parker

An editor at FOMOdrive

  • Nov 23, 2023
  • 11 min read

Bi-Weekly Market Review for Employee Shareholders - Edition #11

For the period 1st-15th November

Dear FOMOdrive community members,

Welcome to ​Edition #11​ of our ​Bi-weekly Market Review​ 📰 covering the major market news from ​1st- 15th November​ 📆.

​Major Market News​


​BlackRock​ announced that it was not intending to launch an XRP ETF after a fake regulatory filing began circulating on social media, sending XRP prices up 10% (Coindesk 14 November)

​Michael Saylor’s​ massive bitcoin bet crosses $1B in unrealised profit (Coindesk 13 November)

BlackRock​ files for spot ethereum ETF to further crypto push (Reuters 16 November)

- ​Robinhood​ ​​ plans to start EU crypto trading and UK brokerage operations in the coming weeks (Coindesk 8 November)

Former FTX CEO ​Sam Bankman-Fried​ Found Guilty On All Criminal Fraud Charges (Investing.com, 3 November)

86% of ​Tether’s​ (USDT) reserves were held in cash and cash equivalents in Q3, according to Tether (Bloomberg, 1 November)


- ​​​Markets​ price an end to interest rates hikes across the world (Bloomberg 10 November)

- ​​​US stocks​ rose again for their longest winning streak since November 2021 (Forbes 7 November)

WeWork​ once valued at $47B file for bankruptcy (CNBC 6 November)

- ​​​US stocks​ jumped for their best day since June as investors bet that the Fed was done raising rates for 2023 (Reuters 2 November)

​Bonds and Interest Rates​

Goldman Sachs,​ ​Morgan Stanley​ diverge on Fed rate-cut forecasts (Bloomberg 13 November)

Yields​ jump, stocks fall as Powell suggests higher rates possible (Reuters 10 November)

- ​​​Credit card​ balances spiked in the third quarter to $1.08T record (CNBC 8 November)

​Commodities and FX​

Gold​ advances as yields, dollar slip after US inflation data (Reuters, 14 November)

- ​​​Oil​ prices fall on worries of waning demand in US and China (NASDAQ 13 November)

US crude oil​ prices fall below $78 a barrel to their lowest since July (CNBC 8 November)

Quote of the Day:

​"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future."​— Carlos Slim Helu

Until next time. Stay informed!

​The FOMOdrive Team​

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