US Market Update: Heatmap

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Heatmap for the NASDAQ

The Nasdaq Heatmap shows a mixed bag after the first half of the trading day today.

Major stock market indexes traded mixed in the first half of Monday's session

A Fed governor told traders and investors on Sunday to curb their enthusiasm after last week's spectacular price moves, fueled by a rotation out of 2022 winners, into all sorts of heavily shorted laggards.
Volume fell sharply on the Nasdaq and the NYSE compared to Friday morning levels.

Crypto sentiment took another dive over the weekend after bankrupt exchange FTX was hacked, draining what was called hundreds of millions of dollars from exchange wallets. Bitcoin posted its worst losses in five months last week and tested Wednesday's low overnight.

Fed Governor Warns Investors
Fed governor Christopher Waller warned on Sunday the central bank has "a ways to go" before rate hikes end. He scolded stock market investors, telling them last week's weaker-than-expected CPI report was just one data point.

Waller agreed the Fed may slow the pace of rate hikes to 50 basis points at the December meeting but insists it would not constitute a change in fiscal policy. He also warned that Fed interest rates will keep rising and stay high until inflation drops to near the Fed's 2% target.

Finally, he notes that CPI reports in coming months will need to show inflation "is on the downslope."

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