News

According to a report by Jinse Finance, strategists at Bank of America have pointed out that the record-breaking rebound in the U.S. stock market presents an excellent opportunity to take profits if the Federal Reserve sends dovish signals at the Jackson Hole meeting. The team led by Michael Hartnett noted that investors are flocking to risk assets ranging from stocks to cryptocurrencies and corporate bonds, driven by optimism that the Fed will cut interest rates to support a weakening labor market and ease the U.S. debt burden. In a report, Hartnett wrote that if Fed Chair Jerome Powell delivers dovish remarks at the Jackson Hole meeting, it could trigger a market pullback as investors “buy the rumor, sell the fact.” He reiterated his preference for international equities over U.S. stocks, a view that has proven correct this year. Hartnett has recently warned that the stock market may be forming a bubble. He believes that as investors seek to hedge against inflation and a weakening dollar, gold, commodities, cryptocurrencies, and emerging market assets will be the biggest winners.

According to a report by Jinse Finance, @whale_alert monitoring shows that at 17:27 (UTC+8), 100 million USDT (worth $100,085,750) was transferred from JustLend DAO to an unknown wallet.