[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"8963f7d0-2ca2-42e4-abda-e84ef52729d1","updated_at":"2024-03-18T06:52:56.782708+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"Explore top stock and crypto news: Market recap, sector performance, economic indicators, and crypto updates. Act now on market insights!","sapo":"Top News: Stock indices show modest declines. Inflation pressures persist. Treasury market reacts. Bitcoin's volatile week. Radix's $10M liquidity program. LTC and SHIB holders eye 50x growth with KLXO. NFTFN's NFT revolution presale.","title":"Top Financial News For The Week Ending March 17, 2024","content":"

Top Stock News:

1. Weekly Market Recap

The major indices experienced relatively modest declines this week, with the Dow Jones Industrial Average remaining unchanged from the prior week, the S&P 500 declining just 0.1%, and the Nasdaq Composite logging a 0.7% loss. However, the Russell 2000 underperformed, dropping 2.1%.

Weekly market stats. Source: Edward Jones

2. Sector Performance

Six of the 11 S&P 500 sectors logged declines, with the real estate sector being the worst performer, dropping 3.1%. The energy sector saw the largest gain, jumping 3.7%.

3. Economic Indicators and Market Response

Market participants received two inflation readings suggesting persistent price pressures. Both the Consumer Price Index (CPI) and Producer Price Index (PPI) for February came in hotter than expected. Despite this, stocks largely took this news in stride, with the S&P 500 even reaching a new record high on Tuesday following the CPI reading.

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The stock market's relatively muted response was due to expectations that the Federal Reserve's policy decision on Wednesday would provide more clarity on how these reports factor into the Fed's thinking.

4. Treasury Market Response

In contrast, the Treasury market had a more pronounced response to the data, with the 10-year note yield jumping 21 basis points to 4.30% and the 2-year note yield settling 23 basis points higher at 4.72% for the week. This was largely in response to the hotter-than-expected PPI report on Thursday.

Top Crypto News:

1. Bitcoin's Rollarcoaster Week: From All-Time Highs to Sell-Offs

Bitcoin and the crypto market saw a volatile week. Bitcoin surged to over $70,000, hitting a new high of $73,737. However, it later dropped due to high inflation and selling pressure from Grayscale.

2. Radix Launches Project Ignition: $10 Million Liquidity Incentive Program

Radix's Project Ignition, offering $10 million in liquidity incentives, has launched. Participants can add $1 in wrapped assets to receive an equal amount of XRD, potentially doubling their investment to $20 million. This initiative is part of Radix's Breakout2024, aiming to boost TVL and provide benefits like instant XRD bonuses and impermanent loss protection.

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3. LTC and SHIB Holders Flock to KLXO, Aiming for 50X Growth Post BTC Halving

Litecoin (LTC) and Shiba Inu (SHIB) holders are increasingly investing in Kelexo lending, aiming for substantial growth following Bitcoin's halving. Litecoin is nearing a milestone, showing potential for a price surge, while Shiba Inu is poised for another spike. Kelexo offers affordability and high potential, attracting investors seeking alternatives.

4. Dogwifhat Drama: Ethereum NFT Auction Sparks Controversy with Solana Community

A controversy has erupted in the meme coin community as the Ethereum NFT auction of the iconic Dogwifhat meme dog, Achi, sparks discord with the Solana community. Achi's owners chose to partner with Feisty DAO for the auction, leading to backlash from WIF supporters. Despite the success of WIF, little effort was made by the community to contact Achi's owners until recently.

5. NFTFN Launches Pre-Sale for NFT Revolution

NFTFN's presale is live, offering investors a chance to join the NFT revolution. NFTFN aims to democratize the NFT market with its innovative financial products, including the SuperNova token, providing access to blue-chip NFT collections like Bored Ape Yacht Club and Mutant Ape Yacht Club.

Explore more crypto insights with our Bitscreener Exclusive

Stay updated with daily hot news on Trending News

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Top Financial News For The Week Ending March 17, 2024

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