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Senate Minority Leader Chuck Schumer: Even with a "highly intelligent president," we cannot ignore the dangers of artificial intelligence. The warning signs are clearer now than ever before.September 15th - According to the Associated Press, Costco (COST.O) has limited the quantity of motor oil its members can purchase and raised prices on related products. According to Costcos website, customers buying a two-pack of its own-brand Kirkland Signature fully synthetic motor oil will see a notification stating, "Each member account is limited to one purchase every seven days, with a maximum of two items per purchase." The product is now priced at $57.99, a significant increase from its previous price of around $30. Sales of Mobil 1 motor oil on Costcos website are also restricted. A six-pack, with each 1-quart bottle, is priced at $43.99, with a limit of five items per member account. Costco has not yet responded to these restrictions.Lithuanian National Crisis Management Center: NATO fighter jets shot down a drone in Lithuanian airspace.Conflict Situation: 1. Missiles reportedly struck three Iranian Kurdish opposition camps in Iraqs Kurdish region, causing no casualties. 2. Houthi rebels in Yemen attacked Saudi Arabias Khamis Mushait airbase. 3. Israeli artillery shelled the town of Mansouri in southern Lebanon. 4. Iranian media reported that Iran will hold a large-scale military exercise. 5. Houthi rebels attacked a Saudi-held assembly point in the Jawf Desert north of the Kanes region. Saudi forces suffered casualties and some equipment damage. 6. Houthi diplomatic missions stated that maritime shipping is safe, but Saudi Arabia would be mistaken if it believed it remained safe after 300 airstrikes in the past five days. 7. Yemeni government forces claimed to have attacked Houthi positions near the Bab el-Mandeb Strait. Strait of Hormuz: 1. Oman: The Strait of Hormuz will open; the current situation may only be temporary. 2. Irans Persian Gulf Straits Authority issued a notice updating its list of vessels violating regulations, bringing the total number of listed ships to 77. 3. US Energy Secretary Wright: The 7-day rolling average trend of oil shipments through the Strait of Hormuz is rising and will continue to rise. 4. US Energy Secretary Wright: Saudi Arabias east-west pipeline is expected to be operational soon. More than 12 million barrels of crude oil passed through the strait last night. The straits average daily oil flow is 10 million barrels. 5. According to data from the London Baltic Exchange, due to the Iran war leading to a shortage of tankers willing to transit the Strait of Hormuz to pick up cargo, the cost of chartering tankers on the industrys benchmark route has exceeded $1 million per day for the first time. 6. Irans Revolutionary Guard stated that the Strait of Hormuz remains under "smart control." 7. Irans Revolutionary Guard claimed that the supertanker "Al-Ghajayah" struck a mine and exploded while attempting to pass through the southern restricted area of the strait. The US military denied this claim. 8. An attack occurred in waters near Hormozgan Province, Iran. Local sources stated that two Iranian fishing boats were attacked by "enemy projectiles." Other developments: 1. Trump: Iran hopes for a swift agreement and is open to engagement with Iran. 2. Saudi Crown Prince meets with the commander of U.S. Central Command to discuss the latest regional developments. 3. Iran seizes the assets of 240 individuals accused of having ties to Israel and other "hostile states." 4. U.S. Vice President Vance: Concerned about the situation in the Red Sea and closely monitoring it. We maintain communication with the Houthis and prioritize navigation safety in the Red Sea. 5. Iraqi Prime Minister: Iraq will not become a launchpad posing a threat to its neighbors. 6. Iranian President: The U.S., unable to locate our Supreme Leader, has begun spreading rumors about his health. The Supreme Leader is in perfect health, and final decisions are made by him. U.S. Navy: Awarded Boeing (BA.N) a $562 million contract for MQ-25A "Stingray" unmanned aerial vehicles.

BTC Bulls Target $21,000 as ETH Breaks Down Resistance at $1,500

Skylar Shaw

Oct 27, 2022 16:22

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Bitcoin (BTC) increased by 3.95% on Tuesday. BTC finished the day at $20,104, reversing a loss of 1.25% from the previous day. Notably, BTC avoided falling below $19,000 for a fourth session and ended the day around $20,000 for the first time since October 5.


BTC dropped to a low of $19,251 late in the morning after a negative morning. However, BTC soared to a late-afternoon high of $20,432 after avoiding the First Major Support Level (S1) at $19,138. The Major Resistance Levels were breached by BTC. BTC, however, breached the Third Major Resistance Level (R3) at $20,258 due to a late retreat.


On Tuesday, Ethereum (ETH) increased by 8.63%. ETH finished the day at $1,460, reversing a loss of 1.47% from the previous day. Notably, ETH made its first appearance at $1,500 since the middle of September.


Following a volatile morning, ETH dropped to an early low of $1,335. ETH surged to a high of $1,525 in the late afternoon, avoiding the First Major Support Level (S1) at $1,322. The day's Major Resistance Levels were overcome by ETH. Late in the day, support came from the Third Major Resistance Level (R3) at $1,440.


A less hawkish Fed policy decision in December was predicted on Tuesday thanks to US economic figures. A Wall Street Journal article and FOMC member Mary Daly discussed the Fed taking its foot off the throttle last Friday.


Economic figures this week have shown the impact of Fed policies on the economy. The services sector contracted more sharply in October's preliminary private sector PMIs, and consumer confidence also suffered.


The housing sector was also impacted by the increase in mortgage rates, with a noticeable slowdown in home price increases.


There are no relevant statistics at this time for the markets to evaluate. Although FOMC members are prohibited from speaking publicly until November 3, they are unable to alter the narrative, which supports the optimistic morning session.


The FedWatch Tool estimated the likelihood of rate increases in November and December to be 95.1% and 47.9%, respectively, as of this morning. The chance of a 75-basis point increase in December was 77.0% a week ago.


Elon Musk's intentions to complete the purchase of Twitter (TWTR) and rumors that CFTC Chairman Rostin Behnam may classify BTC and ETH as commodities are two more factors influencing the surge.

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