"Institutional interest has remained alive through the crypto winter and we are seeing some early news flow with the current announcements. "Crypto is far from dead," Bernstein analyst Gautam Chhugani said in a note Monday. ETF applications from WisdomTree, Invesco and others got the most attention but Wall Street is also optimistic about opportunities for custody, wealth management and tokenization using blockchains. Uncertainty about the situation there could keep the markets on edge.īitcoin is coming off one of its strongest weeks of the year after it climbed 17% thanks to enthusiasm around financial institutions giving crypto their stamp of approval. Traders are monitoring the situation in Russia following a brief rebellion by a private military group over the weekend. Corporate earnings reports are on deck from Walgreens Boots Alliance on Tuesday and Nike on Thursday. The final week of June is a relatively light one for economics reports, highlighted by the personal consumption expenditures index for May out Friday. The S&P 500 has gained 12.7%, while the Dow is up about 1.7%. Other segments of the market are also on track for a banner first half even after the market rally stalled last week, and major averages snapped multiweek win streaks. Rotation back into popular growth names has lifted the Nasdaq 27.4%, putting it on pace for its best first half since 1983. Technology stocks have rebounded this year after a difficult 2022 as investors bet on the promise of artificial intelligence and hope for an end to the Federal Reserve's hiking campaign. "We've had a very big run this year, led primarily by the big cap tech stocks and the Nasdaq 100."Ī pullback looks healthy after a significant rally as long as equities refrain from the "waterfall" selling seen last year, Sarhan said. "The market is in digestion mode," said Adam Sarhan, CEO of 50 Park Investments. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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