Rise and Shine For The Week Ahead (6 Sep)
05 Sep 2021
"Hot" On The Plate
US stocks ended mixed on Friday after US August Jobs Report disappointed with just 235,000 jobs created, well below estimates of 720,000. More on the US jobs report here
This was the smallest monthly addition since January, as US president Joe Biden blamed the delta variant and unvaccinated people for the weaker jobs number. According to the US centers for disease control and prevention, less than 64% of the US adults are fully vaccinated.
The weaker jobs report helped the tech heavy Nasdaq outperform the DOW in recent days, as investors weigh if a slowdown in US hiring may result in the US Fed reconsider their time line for the tapering of stimulus.
Locally, Singapore announced that it will be rolling out the booster shots for COVID-19 vaccine. More than 84% of Singapore's population have received their first dose.
US markets are closed on Monday for Labor Day. Following the weak August Jobs Report, attention will be turned to the Jobs opening and jobless claims in the US on Wednesday and Thursday respectively. Notable earnings ahead include Coupa, Lululemon and Gamestop.
Our Favorite Read Over The Weekend
So as we scan for articles over the weekend for analyst reports, favourite blogs and websites, we will be highlighting our favorite read over the weekend, so that we can all learn together :)
Whether you are a fan anot, cryptocurrency has started to pop in the radar of investors (big or small). While some of us invest in it, many of us are probably still not exactly sure how it works and why when we "stake it", we can get such a high interest rates especially for the alternate coins like Solana, Matic etc.
So here is our favourite read over the weekend: Crypto banking and decentralized finance explained
Another useful link to see which are the largest cryptocurrencies now by market cap - Coinmarketcap.
The largest cryptocurrency by market cap is Bitcoin which currently stands at about US$933b (as of writing). And when we compared it to the largest companies in the world by market cap, it is 7th (behind likes of Apple, Microsoft and Facebook). Too High or Too Low? Only time will tell. Have a great week ahead!