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Healthcare and financials are "starting to get a bid" after years of lagging behind tech.
NYSE Market Strategist @Eric_Criscuolo tells @JD_Durkin these sectors are "big enough to absorb flows coming out of tech" and keep the rally going, calling it "a healthy kind of rotation."
Analyst Calls of the Day with @JD_Durkin:
➡️ Warner Bros. Discovery $WBD: Seaport upgrades to Buy on lower Paramount deal risk
➡️ Casey's General Stores $CASY: BMO upgrades to Outperform
➡️ Seagate $STX / Western Digital $WDC: Melius initiates both at Buy
Michael Saylor signals another $BTC buy despite the crypto struggle, Ark Investment resumes crypto stock buying, crypto ETFs suffer a brutal week of outflows, and $BLK backed Securitize tests tokenization with an IPO this week.
Today's Crypto Daily Download with @MarketJane
Crypto is closing out June near its lows, with Cardano down 38% leading the losses.
Kaiko data shows Bitcoin dropping 18% in market cap this month. Volume surged over 200% for $ADA and around 100% for $BTC when $MSTR announced a Bitcoin sale at the start of the month. It hasn't held: daily volumes are now roughly 65% below where they started the month.
Presented by @KaikoData
Leveraged products "are trading tools" and require daily buy, sell, or hold decisions.
@MazzaDave of @roundhill tells @RemyBlaireNews the new 2x leveraged $RAM ETF complements $DRAM for traders looking for "amplified exposure" to the memory semiconductor space.
The best infrastructure is invisible to the end user.
@F_ZK_Now of @midnightfdn tells @RemyBlaireNews "Midnight is a zero knowledge layer one" that keeps data behind a firewall and "never actually presents any of it on chain," with Monument Bank now building a regulated solution on the network.
America turns 250 with the "end of the US dollar" narrative still unproven.
@FrontierFinance of @Exchange_Invest tells @RemyBlaireNews the political and economic debates ahead will determine whether Wall Street stays in New York or "capitalism" finds a new home.
MiCA is finally required. Europe now has "a single rulebook that matters."
@mikebelshe of @BitGo tells @RemyBlaireNews regulation defines the system but "doesn't harden it," warning that compliance alone isn't enough without years of operational experience behind it.
The AI "trade will continue" and the CapEx supercycle is just getting started.
@mcmonaghan of Founder ETFs tells @RemyBlaireNews the cycle is driving downstream names like $MU and SK Hynix, with US frontier models under pressure as Chinese open source competition heats up.
"We think these models need to come out faster rather than being constrained."
You cannot have sustainable innovation without compliance.
Christine Abou Assali, co-chair of the MFTA Policy and Regulation Working Group, tells @RPether that compliance costs are not a threat to innovation, comparing an unlicensed operator in financial markets to "a doctor operating on a patient without a medical degree."
$MSFT is off nearly 4%. $AAPL is down around 5%. Even $NVDA is selling off.
@Eric_Criscuolo, market strategist at NYSE, tells @Johnyonthefloor that across big tech, "it's really only memory names working right now," with funds now reallocating from tech into sectors like healthcare that have lagged for years.
The UAE didn't become the global crypto hub by lowering its standards, says Zain Umer, CEO of CFC MENA.
He tells @RaghdaIbraheem that the regulations are "pro-business, not necessarily business friendly," and that the balance of robustness while "still being open for business has been met perfectly."
Saudi Arabia's embedded finance market is worth $20 billion. Europe had to fight systems from "the 80s."
@SophieGuibaud, IFC nominee director and co-chair of the Saudi chapter of MFTA, tells @RaghdaIbraheem that with no "banking heritage to rip out," instant payments and a government KYC system, fintechs here can launch far more easily than anywhere else.
The winners in digital finance will remove "seven out of ten intermediaries" from the value chain.
@gaborgurbacs of @OpenAssetsInc tells @RemyBlaireNews this is "the decade of American infrastructure," with builders driving access to a roughly quarter quadrillion dollar global capital market.
Crypto has been cut in half since last fall, but @paisitfwd of @SimplifyAsstMgt still believes in keeping it in a portfolio.
She tells @RemyBlaireNews crypto has "become a risk asset," with a 3 to 5% allocation appropriate for investors who can handle the volatility.
"I don't think all hope is lost for crypto."