The major event on today’s calendar is Ethereum’s London hard fork, and there are some important changes that are coming for Ethereum. Though a wild price action is certainly not on the agenda, unless things don’t go smoothly as expected, the latest proposals will be important for Ethereum’s transformation for a more environment-friendly and less inflationary asset.
In the traditional markets, the US ADP report missed estimates at yesterday’s release. The data sent the Dow lower, but Nasdaq eked out slight gains. The weak data couldn’t boost the Fed doves in an environment of overshooting inflation and the Fed’s Clarida said the first rate hike is certainly coming in 2023. Ouch. Bad data and the hawkish Fed is not a good elixir for your regular risk investor.
But one stock that just soared was Robinhood after pajama traders rushed into the mother of the meme frenzy. Is it worth taking a chance in the HOOD rally? It depends on your risk tolerance. I discuss how far the rally could go and give an update on GME and AMC stocks.
Finally, if meme trading is not for you, Swissquote’s Swiss Bliss theme portfolio could well be. So don’t forget to check out Swissquote’s best Swiss company picks for a solid fundamental play!