Day: May 22, 2025

IPO Boom Resumes as Ryan Reynold’s MNTN Stock Jumps 60% on PTV Streaming Shift

Posted on by Skerdian Meta

MNTN, a linked TV ad-tech business backed by Ryan Reynolds, had a blockbuster IPO on the New York Stock Exchange as investors hurried to capitalize on the quick transition from cable to streaming. Continue reading “IPO Boom Resumes as Ryan Reynold’s MNTN Stock Jumps 60% on PTV Streaming Shift” →

Wall Street Rebounds on Progress of Trump’s Fiscal Plan, Closes Flat

Posted on by Ignacio Teson

Wall Street’s three main indexes closed Thursday’s session with marginal changes, as markets pared early losses triggered by the House of Representatives’ approval of President Donald Trump’s controversial tax and spending bill.

The Dow Jones Industrial Average, composed of 30 major companies, ended flat at 41,859.09 points. The S&P 500, which tracks the most valuable U.S. firms, dipped 0.04% to 5,842.01 points. The tech-heavy Nasdaq Composite rose 0.28% to 18,925.73, supported by gains in major tech names like Tesla and Alphabet.

[[SPX-graph]]

Market Jitters Persist Amid Fiscal Concerns

Investors remain uneasy about the fiscal reform plan, which has now moved to the Senate for review. The proposal, aimed at cutting taxes and increasing government spending, has sparked concerns about ballooning federal debt.

Those concerns have driven up Treasury yields in recent weeks, putting pressure on equities. However, long-term yields eased on Thursday, helping stocks rebound. The 10-year Treasury yield fell by 5.4 basis points to 4.543%, retreating from its highest level since February.

Labor Market Remains Resilient

On the economic front, new data showed that initial jobless claims in the U.S. fell by 2,000 last week to 227,000 — signaling continued strength in the labor market and steady employment growth in May.

Mixed Performance Across Dow Components

The Dow Jones showed a balance between gainers and losers. UnitedHealth Group led the losses with a 2.08% drop, followed by Verizon, down 1.42%. On the upside, Nike gained 2.18%, and Merck & Co. rose 1.12%.

Tech Giants Boost Nasdaq

The Nasdaq ended with modest gains, powered by the so-called “Magnificent Seven” tech giants. Tesla shares rose 1.92%, while Alphabet, the parent company of Google, climbed 1.35% to its highest level in nearly three months.

Mexican Peso Strengthens Against the Dollar After Inflation and GDP Data

Posted on by Ignacio Teson

The Mexican peso appreciated against the U.S. dollar on Thursday, resuming an upward trend in a market reacting to both local economic indicators and progress on U.S. fiscal legislation proposed by President Donald Trump.

The Mexican Peso Strenghtened on Thursday.

The exchange rate closed the session at 19.3121 pesos per dollar. Compared to Wednesday’s official rate of 19.3716 from the Bank of Mexico (Banxico), this represented an appreciation of 5.95 centavos, or 0.31%.

During the session, the dollar traded within a range of 19.2895 to 19.4603 pesos. Meanwhile, the U.S. Dollar Index (DXY) from the Intercontinental Exchange — which measures the dollar against a basket of six major currencies — was up 0.32% at 99.93 points.

[[USD/MXN-graph]]

Uncertainty Around U.S. Fiscal Policy

Investors remain uneasy about President Trump’s controversial tax and spending reform bill. After prolonged debate, the proposal passed the House of Representatives and now heads to the Senate for review and potential approval.

Some analysts in the U.S. have warned that the bill could add between $3 trillion and $5 trillion to the national debt. These concerns have intensified following a sovereign credit rating downgrade by Moody’s last Friday.

Local GDP and Inflation

On the domestic front, Mexico’s economy grew 0.8% year-over-year in the first quarter of 2025, according to final data from INEGI. This result was in line with the preliminary estimate released a few weeks ago. Seasonally adjusted, the economy expanded 0.2%, helping the country avoid a technical recession.

Regarding inflation, INEGI reported a 0.09% increase in consumer prices during the first half of May — significantly above the market’s expected drop of 0.13%. On an annual basis, inflation accelerated to 4.22%, above Banxico’s target range.

Technical Outlook

On Tuesday, the peso reached its strongest level against the dollar since October, at 19.24 per dollar. Since then, it has hovered around the 19.30 support level, awaiting new data that could push it toward the next key level of 19, supported by ongoing dollar weakness in global markets.

For now, investors expect Banxico to continue cutting interest rates, following last week’s 50 basis-point reduction. In the U.S., the market’s focus remains on growing concerns over federal debt and fiscal sustainability.

Naira (NGN) Gains Further, But Watch Oil Prices As Nigeria’s CB Pauses, N1604 Black Market

Posted on by Skerdian Meta

The Nigerian naira has remained constant due to a combination of improved market sentiment, slower business demand for dollars, and targeted central bank initiatives. Continue reading “Naira (NGN) Gains Further, But Watch Oil Prices As Nigeria’s CB Pauses, N1604 Black Market” →

GME Stock Eyes $45 Then $65 after GameStop Blasts Past $33 on DBK AG, Bitcoin Hype

Posted on by Skerdian Meta

GameStop stock has risen substantially once more, backed by growing crypto mania, significant institutional investment, and speculative interest in Bitcoin exposure. Continue reading “GME Stock Eyes $45 Then $65 after GameStop Blasts Past $33 on DBK AG, Bitcoin Hype” →

U.S.: Citi Warns the Dollar Will Continue to Weaken

Posted on by Ignacio Teson

The fiscal policy pursued by Donald Trump is raising concerns in financial markets, and in this context, some banks are beginning to warn clients that the U.S. dollar is no longer behaving as a safe haven.

Citigroup has warned that the dollar may continue to lose ground following this week’s G7 meeting, as the United States softens its tariff stance and moves forward with trade agreements.

In a recent report, the bank’s currency strategists, led by Osamu Takashima, noted that while Washington is not expected to actively pursue a weak dollar policy, the greenback could depreciate as progress is made toward tariff reductions through multilateral negotiations.

[[EUR/USD-graph]]

Monetary policy talks have taken center stage ahead of the G7 summit. Officials from South Korea and Taiwan have acknowledged discussing the matter with U.S. counterparts. In addition, Japan’s Finance Minister announced a bilateral meeting with U.S. Treasury Secretary Scott Bessent, during which currency issues will also be addressed.

“We believe the appreciation of Asian currencies is likely to be raised as part of the tariff negotiations,” Citi stated. “Japan, China, and other East Asian economies could be at the heart of this discussion,” they added, suggesting that the Bank of Japan’s policies might also be under quiet scrutiny as part of bilateral talks with the U.S.

Fewer Tariffs, Less Support for a Strong Dollar

Since April, the dollar has fallen by 4%, according to the Bloomberg Dollar Spot Index. This drop coincided with the imposition of new U.S. tariffs, which triggered a sharp correction in global markets. Since then, uncertainty around the scope and duration of these measures has dampened appetite for dollar-denominated assets.

Citi does not expect a formal agreement like the 1985 Plaza Accord — which deliberately sought to weaken the dollar. Instead, strategists anticipate that Bessent will emphasize the role of central banks in shaping currency trends, as well as how reserve investment strategies are influencing U.S. interest rates.

Bitcoin Price Prediction: BTC Targets $150K After $110K Break, Amid Crypto Policy Shift

Posted on by Skerdian Meta

The world’s largest cryptocurrency has once again proven its worth, with BTC surpassing $110,000 despite substantial legislative changes and rising institutional interest.
Continue reading “Bitcoin Price Prediction: BTC Targets $150K After $110K Break, Amid Crypto Policy Shift” →

Michael Burry, Who Predicted the 2008 Financial Crisis, Sells Off Entire Portfolio

Posted on by Ignacio Teson

The hedge fund owned by Michael Burry has divested from stocks most exposed to the ongoing trade war, according to its latest filing with the U.S. Securities and Exchange Commission (SEC).

Mike Burry predicted the great financial crisis.

Burry — the legendary investor who famously bet against the U.S. housing market and predicted the 2008 financial crisis — sold off numerous positions through his fund, Scion Asset Management. The move was disclosed in the fund’s most recent SEC filing.

Notably, the fund exited Chinese stocks such as JD.com, Alibaba, Baidu, and Pinduoduo, the parent company of Temu.

In addition, Burry placed a massive bet against the U.S. tech sector, acquiring 900,000 put contracts — a clear signal of his bearish outlook. Even Boeing, the American aerospace giant and one of the main beneficiaries of Washington’s global trade negotiations, was sold off in the wave of liquidations.

The Only Stock Left: Estée Lauder

The only position Burry retained in his entire portfolio is the cosmetics conglomerate Estée Lauder. Despite the stock having plummeted nearly 50% over the past year following lackluster earnings reports, Burry appears to believe in the company’s comeback.

The luxury sector as a whole has experienced a slowdown in recent years, and Estée Lauder has struggled to revive consumer demand.

Burry’s recent pessimism may be linked to the escalating trade war launched by the White House.

Meanwhile, companies like Nvidia — much like Boeing — have secured key contracts amid trade negotiations and appear to be aligning politically with the Trump administration, despite significant exposure to China in their supply chains.