Yazar: Geoffrey Smith
Investing.com – Bitcoin and other crypto assets rose to new highs after Elon Musk’s recent intervention; The Senate is preparing for Donald Trump’s trial for the second time; A team of WHO does not acknowledge the lab accident as the source of the Covid-19 outbreak, and oil remains above $ 60.
Here’s what you need to know in financial markets on Tuesday, February 9th.
1.Bitcoin exceeded $ 48k
The price rose to $ 48,227 after Tesla’s announcement of $ 1.5 billion of digital money investment to diversify assets encouraged cryptocurrency betting.
Bitcoin surged 18% to $ 46,488.
UBS Global Wealth Management chief economist Paul Donovan suggested that the volatility caused by the news does not serve the idea that Bitcoin is a true store of value because its price can change so much at the whim of a single person.
However, these reports supported crypto assets in general and, and DogeCoin saw huge gains.
2.Trump’s impeachment hearing
With a low risk of conviction for the former President after Republican Senators choose to maintain party discipline, the Senate will begin Donald Trump’s second impeachment trial. The support of 16 people from the Republican Party (GOP) will be required for the conviction.
The GOP, initially split over whether Trump’s role (or lack thereof) in inciting violence in the Congress building last month, gathered behind the procedural argument that the case was unconstitutional, re-discovering its unity.
For the markets, therefore, the main implication was to what extent the running of the trial helped or prevented a two-party approach from a policy perspective over the next two years.
3.The stock markets will open low
US stock markets, which saw new records on Tuesday, will open low.
It fell by 50 points and fell 0.1%.
It’s still a quiet day for data, but the earnings calendar is intense: Fidelity National Info (NYSE :), S&P Global (NYSE 🙂 and Du Pont de Nemours have already exceeded expectations. Among them will be Fox Corp, Willis Towers Watson (NASDAQ 🙂 and Coty (NYSE :).
Cisco (NASDAQ :), Fiserv (NASDAQ 🙂 and Twitter will also offer updates after the closing.
4. WHO Vuhan clears its laboratory
A team from the World Health Organization (WHO) investigating the origins of the Covid-19 virus in China said that the idea that it might have originated from the laboratory is absolutely unlikely, it is more likely to come from an animal host.
Peter Ben Embarek, a food safety scientist at WHO, said, “Our preliminary findings suggest that the most likely pathway came through a host species and will require further study.”
These statements contradict the theory that Covid-19 originated at the virology institute in Wuhan, where the first major outbreak occurred last year.
The uncertainty of the investigation’s results tended to please Beijing more than Washington and its allies, but the UN-backed investigation emphasized from the very beginning that it had no jurisdiction to blame.
5. Oil is calm; eyes on API
Crude oil prices fell slightly after hitting the new high for 13 months.
It was down 0.2% to $ 60.59, while it fell 0.1% to $ 57.92.
The structural contraction in the physical market, thanks to OPEC +, has been temporarily worsened by the strike that led Libya to reduce production capacity at its export facilities.
The American Petroleum Institute (API) will share weekly data on the US.