News

ProShares UltraPro QQQ (TQQQ) fell significantly on Thursday due to increased concerns over a potential escalation of trade tariffs with the EU, overshadowing positive economic data. The threats related to tariffs caused widespread market downturns, increasing demand for safe-haven assets like gold.

A federal judge ordered the reinstatement of federal employees dismissed during President Trump's administration under Elon Musk's Department of Government Efficiency, ruling the firings unlawful. This decision represents a significant setback for the administration's attempts to reduce federal agency staffing and spending.

Bitcoin's "digital gold" status is under fire as its price lags behind gold, which recently reached record highs. This divergence raises concerns about Bitcoin's ability to function as a reliable store of value and hedge against inflation, especially considering Federal Reserve Chair Jerome Powell's December 2024 statement comparing it to a speculative asset like gold.

Needham analysts downgraded Dentsply Sirona and ZimVie to "Hold" due to their below-market growth and lack of upside potential, citing challenges such as declining consumer sentiment, high interest rates, and ongoing staffing shortages in the dental industry. These factors are expected to weigh on capital demand and limit capacity, further impacting the companies' growth prospects.

Cryptocurrencies experienced another bearish trend on Thursday, with declining trading activity and liquidity, except for XRP, which showed some resilience. Analysts highlight significant Bitcoin withdrawals, traders’ liquidations, and crucial support levels as indicators to watch amid market uncertainty.