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NIO Inc.
If you expected a comment like : same S… different day – well WRONG
From what we have in front of us – Bullish pattern in creation – and after all the disappointments with Nio, this time it looks real…
We need another day – tomorrow, for Nio to confirm or deny , but possibility of attacking that declination trend line at 3.95-4.00 is resurfacing.
So we sit and wait to see….
XAUUSD – Gold
Gold is right now in what I would call Neutral mode.
It has to go above 3350.00 first to change that view.
On the lower side, only below 3285.00 & 3245.00 we would have a change of heart.
It is still very Bullish, but before it takes over 3405.00 overall picture can change for a worse…
Stocks getting a lift out of this headline (and also after US500 spike lower held above 6000)
Meta’s Bitcoin rejection means Big Tech is still skeptical
Strategy became the first publicly traded company to adopt Bitcoin as its primary treasury reserve asset in August 2020, but not many major tech firms have followed since.
Treasury reserves, sometimes called cash reserves, are held by corporations to fund short-term or emergency obligations. These are typically cash or cash equivalents like money market funds or three-month US Treasury bills.
The social media giant Meta keeps $72 billion in liquid assets in its reserve. But at its annual meeting on May 28, shareholders turned back a proposal to assess whether Bitcoin BTCUSD might qualify as a future treasury reserve asset. The proposal was dismissed by a ratio of 1,221 to 1.
That rejection in itself is not so surprising. Despite growing corporate Bitcoin adoption, Big Tech and most mainstream corporations remain cautious. US tech giant Microsoft also voted down similar proposals in December 2024.
Meta’s failed Bitcoin proposal, rejected by an overwhelming majority, raises questions about institutional readiness to adopt crypto.
Bitcoin’s volatility weakens its treasury asset case
This could all just be a misunderstanding. Crypto partisans may have failed to realize that corporate treasuries are more like emergency funds: to be used in the event of natural disasters or pandemics or to support day-to-day business operations, but not as a platform for speculative investing.
FTSE 100 Eyes Record Close on Continued BOE Rate Cut Hopes
London’s FTSE 100 is on track to close at a new record high. Investors hope the Bank of England will continue to cut rates after data showed unemployment rising and wage growth falling. The index is currently 0.5% higher at 8872.58, having hit an intraday high of 8879.64 and closing at its third highest level Monday. The FTSE hit a record close of 8871.31 on March 3. Housebuilders lead the index after Bellway raised its home sales forecast for the year amid a strong spring season. Energy stocks are also on the rise on higher oil prices. Persimmon and Barratt Redrow are up 3.9% and 3.4%, respectively, while Shell and BP rise 2.2% and 1.85%.
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