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2022-07-19 00:23:41

Market situation

The financial and crypto markets have been going down for the past few days. BTC price fell to around $38,400. Altcoins are no exception.

US stocks were also a decline. The biggest drop was the Nasdaq with a 3.95% drop. The futures market is almost flat, with a slight green tint. Gold fell to 1901 USD/ounce. And oil was flat at $102/barrel.

An update on the launch of three Bitcoin Spot ETFs in Australia was halted less than 24 hours before the proposed listing on CBOE Australia. This delay is not related to legal but because the companies are not prepared to sign for the product launch and do not yet have a market maker for the product launch. This delay will take place for a few days and an update will be available soon.

Alphabet, GM quarterly reports are lower than expected

The market fell because of bad business reports in the first quarter of some big companies. Alphabet reported lower-than-expected earnings and revenue for the first quarter. The company’s shares fell about 3% in yesterday’s trading.

Alphabet’s earnings per share were $24.62, lower than expected earnings of $25.91. Revenue of $68.01 billion was also lower than expected revenue of $68.11 billion. YouTube’s ad revenue for the quarter fell short of analyst expectations. And Google Cloud’s revenue was higher than analyst expectations.

Retail brokerage Robinhood is cutting staff, citing “duplicate job roles and functions” after the company’s rapid expansion last year. The move will affect about 9% of full-time employees. Many people think that Robinhood wants to cut staff to reduce costs because the income is not good.

In addition, General Motors (GM) also reported lower net profit and profit margin compared to a year ago. The company’s revenue was $35.98 billion, lower than expected $37.01 billion. GM has pulled out of Europe, so the war between Russia and Ukraine is not the cause of lower-than-expected sales. The main reason is because of the growth of the epidemic, which has stopped the production plant located in China. However, GM remains confident that it will have better earnings later this year.

Bad earnings news affects the stock market as well. Tesla shares closed down more than 12% on Tuesday as the tech Nasdaq Composite fell nearly 4%. Other big tech stocks like Apple, Amazon, Google and Meta all fell more than 3%.

Tesla shares continued to fall following Twitter’s board announcement of Musk’s $44 billion acquisition of the company. Despite being the world’s richest man, most of Musk’s fortune is tied up in Tesla stock, meaning he’ll likely have to take on debt to finance the deal. So investors worried about selling, causing Tesla stock to fall continuously.

Tesla investors may also be concerned about management when Elon Musk takes over Twitter. Assuming the deal closes, Musk will be in charge of Tesla, Twitter, and SpaceX. He also owns two smaller ventures, Boring Company and Neuralink. It can be seen that Elon Musk owns and manages a lot of companies, so the adoption of more Twitter can really manage all these companies. Besides, Tesla also has a component factory in China. The outbreak of the disease could affect Tesla’s production and business.

In the bad news, Microsoft reported growth in the first quarter. Microsoft Company announced third-quarter financial earnings that exceeded analyst expectations and optimistic outlook for the current quarter. Microsoft earnings came in at $2.22 per share, higher than the $2.19 expected by analysts. The company’s revenue also exceeded the expected figure of 49.05 billion USD and reached 49.36 billion USD. Following this news, Microsoft’s stock rose as much as 6% in yesterday’s trading session.

In general, consulting investors are very concerned with companies’ first-quarter business reports. Many large companies report negative results, causing stocks and affecting crypto to go down. The business situation of companies is also one of the bases for investors to assess the economic situation as well as the financial crisis.

Thuan also shared his views and thoughts on the financial crisis. Historically, financial crises have often occurred when no one expected them. By the time investors have really realized the financial crisis, the market has usually fallen to its lowest point and has since recovered. To be able to take advantage of the opportunity, investors need to have financial preparation, cash and vision to realize that opportunity. Therefore, capital management and risk management are extremely important. Thuan trusts and allocates nearly 50% of assets to the crypto market and also keeps 30% of assets as cash and cash equivalents. From there, you can take advantage of opportunities if the market goes down and always have a reserve for possible options. Good luck with your portfolio management and have a specific strategy that’s right for you.

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