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GlobalFoundries will acquire Synopsys processor IP solutions division.Citigroup CFO: The independence of the Federal Reserve Chairman and the Federal Reserve is crucial.January 14th - According to foreign media citing a prominent Republican lawmaker, Powell may miss his scheduled next congressional hearing because the U.S. Department of Justice has subpoenaed the Federal Reserve, threatening criminal charges against Fed Chairman Jerome Powell. Under the 1978 amendments to the law establishing the Federal Reserve, the Fed chairman is required to testify before Congress twice a year, offering his views on monetary policy and the economic situation. Traditionally, the Fed chairman usually appears before both the Senate Banking Committee and the House Financial Services Committee. Representative French Hill, Chairman of the House Financial Services Committee, stated, "I expect Chairman Powell will not appear before the House and Senate hearings in February because the grand jury has accused him of perjury."January 14th - Russian oil production declined slightly last year. Monthly data released by OPEC on Wednesday showed that Russias daily crude oil production in 2025 fell by approximately 0.7% year-on-year to 9.129 million barrels. Despite ongoing Ukrainian drone attacks on Russian energy infrastructure and lower international oil prices, Russia maintained relatively stable crude oil production. Oil and gas together account for about a quarter of Russias federal budget tax revenue. Data shows that international oil prices are expected to fall by more than 18% cumulatively in 2025, the largest annual decline since 2020, mainly due to heightened concerns about oversupply. Specifically, Russian crude oil production in December decreased by 73,000 barrels per day month-on-month, falling to 9.304 million barrels per day.January 14 - Another drug scandal has recently surfaced at a U.S. military base in Japan, with a base employee arrested for allegedly smuggling drugs from the United States using the militarys postal system.

Crypto Market Daily Highlights: DOGE and SOL Lead Top Ten South

Skylar Shaw

Feb 06, 2023 15:44

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The top ten cryptocurrency index had a gloomy session on Sunday. Leading the way down were DOGE and SOL. BTC dropped below $23,000 at day's conclusion for the first time in five sessions.


There were no crypto-related developments to cause BTC and the larger crypto market to decline for a second session in a row. The US Jobs Report and ISM Non-Manufacturing PMI survey from Friday resonated due to the absence of updates from FTX, Genesis, and Silvergate Bank.


The United States will likely escape a recession, according to the most recent economic statistics.


However, the Fed has flexibility to deliver an aggressive interest rate boost in March after the unemployment rate dropped to 3.4%. Investor focus will now be on the January CPI Report and remarks from FOMC members.


There are currently no US economic data to take into account for investors. The NASDAQ Composite Index and FMOC member talk will have the most impact because to the absence of statistics. Investors must keep an eye on the cryptocurrency news wires for developments on FTX, Genesis, and Silvergate Bank. Additionally, regulatory chitchat will provide guidance.


The NASDAQ mini had an impact in the last hour after Friday's NASDAQ defeat (UTC). This morning, the NASDAQ mini was down 35.25 points.


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