IS THERE ANYTHING TO HOLD CRYPTO’S BACK?

https://www.howestreet.com/2025/07/is-there-anything-to-hold-cryptos-back-mark-leibovit/

UPCOMING FED MEETINGS

U.S. Stocks Close Little Changed Following Lackluster Session

Stocks showed a lack of direction over the course of the trading session on Friday, with the major averages bouncing back and forth across the unchanged line after failing to sustain an initial move to the upside.

The major averages eventually ended the day narrowly mixed. While the Nasdaq inched up 10.01 points or 0.1 percent to a new record closing high of 20,895.66, the S&P 500 edged down 0.57 points or less than a tenth of a percent to 6,296.79 and the Dow fell 142.30 points or 0.3 percent to 44,342.19.

For the week, the Nasdaq jumped by 1.5 percent and the S&P 500 climbed by 0.6 percent, but the Dow slipped by 0.1 percent.

The initial strength on Wall Street came as stocks continued to benefit from Thursday’s upbeat U.S. economic data, which helped ease concerns about the impact of President Donald Trump’s trade wars.

Buying interest waned shortly after the start of trading, however, leading to some profit taking after the Nasdaq and the S&P 500 reached new record intraday highs.

The subsequent pullback also came amid a slump by shares of Netflix (NFLX), with the streaming giant tumbling by 5.1 percent to its lowest closing level in over a month.

The drop by Netflix came after the company reported better than expected second quarter results but warned its operating margin in the second half will be lower than the first half.

Shares of American Express (AXP) and 3M (MMM) also showed notable moves to the downside even though the companies reported second quarter results that exceeded estimates.

Meanwhile, traders largely shrugged off a report from the University of Michigan showing a modest improvement by U.S. consumer sentiment in the month of July.

The University of Michigan said its consumer sentiment index climbed to 61.8 in July after surging to 60.7 in June. Economists had expected the index to rise to 61.5.

With the slightly bigger than expected increase, the consumer sentiment index reached its highest level since hitting 64.7 in February.

Sector News

Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.

Utilities stocks showed a strong move to the upside, however, with the Dow Jones Utilities Average climbing by 1.6 percent to its best closing level in over seven months.

Considerable strength was also visible among brokerage stocks, as reflected by the 1.3 percent gain posted by the NYSE Arca Securities Broker/Dealer Index.

Interactive Brokers (IBKR) helped lead the sector higher, surging by 7.8 percent after reporting better than expected second quarter results.

On the other hand, biotechnology stocks came under pressure over the course of the session, dragging the NYSE Arca Biotechnology Index down by 2.2 percent.

Airline and oil service stocks also showed notable moves to the downside on the day, offsetting the strength in the aforementioned sectors.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan’s Nikkei 225 Index dipped by 0.2 percent, while China’s Shanghai Composite Index increased by 0.5 percent.

The major European markets also ended the day mixed. While the German DAX Index fell by 0.3 percent, the French CAC 40 Index closed just above the unchanged line and the U.K.’s FTSE 100 Index rose by 0.2 percent.

In the bond market, treasuries moved to the upside after ending the previous session roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell 3.1 basis points to 4.432 percent.

Looking Ahead

Earnings news may move into the spotlight next week, with a slew of big-name companies scheduled to report their quarterly results. Traders are also likely to keep an eye on reports on new and existing home sales and durable goods orders.

---

President Trump on Friday signed into law a bill that establishes the first federal framework for dollar-backed stablecoins, one of the biggest victories yet for a crypto industry that has pushed for more favorable oversight in Washington, D.C.

“I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world, and that’s what we’ve done,” Trump said during a signing ceremony for the GENIUS Act at the White House.

Two other crypto bills also passed through the House this week, the CBDC Anti-Surveillance State Act and the Clarity Act, which served as additional wins for the crypto industry.

They prohibit the creation of central bank digital currencies and assign oversight over all digital assets except stablecoins to either the Securities and Exchange Commission (SEC) or the Commodities Futures Trading Commission (CFTC).

Both will now go to the Senate, where their ultimate fates are still unknown.

The passage of all three bills came after a series of roadblocks and delays as GOP leaders struggled to bring some Republican holdouts in line during what has been dubbed “Crypto Week” by backers of the legislation.

President Trump at the White House. (AP Photo/Alex Brandon) · ASSOCIATED PRESS
Trump is also deepening his own financial involvement in cryptocurrencies with several separate ventures. They include World Liberty Financial, a new crypto startup backed by Trump and his sons that has already launched its own US-dollar-pegged stablecoin (USD1) in partnership with BitGo.

Stocks with crypto ties have been surging recently as investors anticipated the moves in the nation’s capital, notably Coinbase (COIN), Robinhood (HOOD), and newly public stablecoin issuer Circle (CRCL).

The GENIUS Act signed into law by Trump on Friday outlines how US companies can issue and manage dollar-backed stablecoins for payments, giving those digital assets a massive stamp of approval that is expected to encourage wider adoption.

It bans members of Congress and their families from earning profits from stablecoins, but not Trump and his family, an omission that irked some Democrats and slowed progress on the legislation earlier this spring.

Between Washington and Wall Street, expectations are riding high for what this legislation ultimately brings.

A senior Treasury official said growth in the $260 billion stablecoin market over the months and years ahead will have a significant impact on the dominance of the US dollar and demand for US debt.

The legislation is also expected to unleash a wave of new stablecoin entrants as traditional companies ranging from banks to megaretailers consider whether to issue their own coins.

 

 

 

 

 

 

 

WHO IS MARK LEIBOVIT?

MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.

Mark’s extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”. He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell’s MoneyTalks.

In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.

He was a ‘Market Maker’ on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms. Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com. He became a member of the Market Technicians Association in 1982.

Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.

His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading. It is now also published in Chinese. Mark has appeared in speaking engagements and seminars in the U.S. and Canada.

Yes, that’s a cartoon of me. Louis Rukeyser had us dressed up in ‘elf’ costumes on the screen broadcast each week. I’ve dated myself. That occurred for me between 1988-1996. Lou didn’t like any bearish comments, so myself and other elves got dumped in 1996.

I APPEARED AS A GUEST PANELIST WITH LOUIS RUKEYSER ONE MONTH BEFORE IN MID-SEPTEMBER 1987

THE MOST HONEST AND THOROUGH MEDIA NEWS OUTLET IN THE U.S.

G EDWARD GRIFFIN

https://www.newsmaxtv.com/

---

 

https://tinyurl.com/38ku54a5

ORDER NOW!  Get 50% Off with promo code ‘HALFOFF’

GREAT VIDEO ON ON DONALD TRUMP’S LIFE EVOLUTION:

https://tinyurl.com/mta7xa4v

 

---

COME ON, DAD. IT’S TIME TO EAT

DISCLAIMER:

[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]