In this video, the host covers a variety of news topics including banking news, crypto news, and macroeconomic news. The PPI (producer price index) came in lower than expected and is seen as a leading indicator of inflation. The market is rallying and certain stocks like Google and Tesla are up. There is some concern about jobless claims going up but investors still want to see a tight labor market and falling inflation. Bitcoin is falling after the PPI news. The host also recommends using a VPN to protect personal information while trading in crypto and highlights a sale on NordVPN. The FDIC is set to make an announcement about deposit insurance funds and PacWest Bancorp has seen a decline in deposits. Jamie Dimon has expressed concern about commercial real estate loans.
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Banking News:
Over the last couple of hours, the financial world has seen some significant events. From PPI and CPI reports to initial jobless claims and FDIC announcements, there is a lot to keep up with. One notable report is that deposits at PacWest Bancorp have declined by 9.5% during the week ended May 5. These outflows were largely due to news reports on May 3.
Crypto News:
Bitcoin fell a little after the PPI news, causing slight concern among investors. However, it quickly rebounded, proving its resilience. The video also stresses the importance of using cold storage wallets to protect one’s crypto assets and, more recently, the importance of using a VPN. The dangers of not protecting personal and financial data in the crypto world are emphasised.
Macro Economic News:
PPI and CPI reports are essential to keep an eye on as they signal inflation. PPI, in particular, is seen as a leading indicator as it indicates whether producers are having to pay more for goods sold by manufacturers. PPI data falling below expectations is a good thing as it indicates a decrease in inflation, and this has resulted in some stocks such as Google, Amazon, and Tesla rising in the pre-market. Meanwhile, initial jobless claims were not as positive, coming in at 264 when 245 was expected. This is the highest since October 2021 and could potentially have a negative impact on the market.
NordVPN:
The video stresses the importance of using a VPN when trading in crypto. The consequences of not doing so are highlighted, and a VPN is recommended as it protects one’s personal and financial data while online and allows access to websites that might be restricted in one’s area. NordVPN is allotted extra attention as it is both affordable and effective. When signing up for a year, users get three months off and receive four months off when signing up for two years.
