Ramon Gunn is a seasoned financial industry executive with years of experience analyzing the stock market. In the article below, Ramon Gunn provides analysis on the latest stock market news, highlighting key trends and what this means for new and seasoned investors. Regardless of an individual’s investment experience, Gunn’s valuable insights will assist them in navigating the constantly changing stock market environment.
The ever-evolving landscape of the finance world is a tough cycle to follow. And in such a volatile economic climate, the effort only grows, leaving many people struggling to remain abreast of the situation. Luckily, analysts are working around the clock to curate the latest information for investors and interested individuals to feast on.
Ramon Gunn says that from US yields climbing, to experts noting that equity markets won’t come through a recession unscathed, to carbon-free Bitcoin mining, to overseas crypto expansion, the industry has been as busy as ever recently.
US Yields Climbing Following PMI Data
Global stocks declined for the third straight day on Friday, April 21, 2023 as investors analyzed the most recent round of corporate earnings. However, longer US yields were higher following business activity metric increases.
Ramon Gunn reports that the S&P 500 also closed slightly higher, with the consumer staples sector boasting a rise of 0.75%. Proctor & Gamble, for instance, rose 3.46%, thanks to beating their quarterly estimates and boosting sales outlook.
Amazon shares rallied, closing at its two-month record high after a positive report from a research firm about the conglomerate’s North America business. Its 3.03% climb alone raised the consumer discretionary sector by a whopping 1.20%, claiming its spot as the session’s best performer.
76.1% of the companies that reported quarterly earnings on Friday exceeded expectations, data shows. This is well above the since-1994 average of 66% and slightly better than the 74% experienced over the past few quarters.
Although, it wasn’t all sunshine and roses — Ramon Gunn says that the materials niche was weak, displaying a drop of 0.91% as Albermarle crashed 10%, representing its largest 24-hour percentage drop in 14 months.
Equity Markets Won’t Be Unscathed Through a Recession
According to Longview Economics’ chief executive of financial advisory, Chris Watling, the most recent economic data shows a recession is looming, and investors might need to buckle their seatbelts for some stock market pain.
In an interview with CNBC on Friday, April 21, Watling described “brutally bad” and “compelling” economic indicators signifying a recession. The company’s Conference Board mentioned the Leading Economic Index for the United States of America fell by 1.2% last March, displaying its lowest level since the end of 2020, indicating intensifying economic weakness.
On top of that, Watling mentioned the standard timeline for a recession following the inversion of the Treasury yield curve (March 2022) was about 12 months. He said that every time the US had seen an invert, there had been a recession, meaning one is due — it’s simply a matter of time.
US-Based Bitcoin Mining Plant Boasts Plans for Carbon-Free Mining
Ramon Gunn reports that TeraWulf, a US-based Bitcoin mining company, announced on Wednesday, April 19, 2023, that its deployment of the 50 MW at the Nautilus Cryptomine facility was ahead of plans. The facility marks the first-of-its-kind behind-the-meter Bitcoin mining operation in the United States of America that is 100% powered by nuclear energy.
As of Wednesday, Ramon Gunn says that the enterprise has deployed its phase one full share in the Nautilus facility, a joint venture with Cumulus Coin, LLC. It represents an imperative milestone for the company, displaying an almost 100% increase year to date and enhancing its operating hashrate.
The chairman and CEO of the company, Paul Prager, told Investing.com that deploying 50MW of capacity at the facility is a significant achievement. It doesn’t only represent the first nuclear-powered Bitcoin mining plant in the country; it also allows TeraWulf to fully realize the economic benefit of 50 MW of zero-carbon mining.
The Nautilus establishment is sourcing reliable, carbon-free power from Pennsylvania’s 2.5 GW Susquehanna nuclear generation plant.
Additionally, Ramon Gunn explains that TeraWulf also has 60 MW operational at its New York-based facility and is in the final phase of constructing Building 2, which is set to increase the operational capacity to over a whopping 110 MW.
Gemini Becomes Second Major US Crypto Exchange to Expand Overseas
As of April 21, 2023, Gemini is the second large US crypto exchange to expand its presence abroad in the last two days.
Ramon Gunn also reports that the enterprise has plans to head across the Asia-Pacific region and has appointed a regional CEO to help them. Alongside the CEO, they’ve established an engineering center in Gurgaon, India.
The move is a part of the exchange’s strategy to grow its worldwide business and capitalize on the ever-rising demand for crypto.
