Stocks, Crude, & Crypto Explode Higher As Asia Opens

Stocks, Crude, & Crypto Explode Higher As Asia Opens

Just as we warned, US equity markets (massive short squeeze) and oil (Saudi bombing) are exploding higher at the Sunday futures open.

Brent crude futures are above $70…

…and WTI is above $67…

And Small Caps are leading the surge in equity futures – now up a stunning 6% from the European close on Friday…

Bonds are being sold…

And the dollar is weaker against the JPY and EUR, helping to send Gold futures back above $1700…

Elsewhere, Ethereum is also bid (EIP-1599 approval) back up near $1700…

And Bitcoin is bid, likely helped by the $1.9 trillion malarkey that is just about to hit the US markets/economy…

Cryptos are also helped by the fact that – much to the chagrin of JPMorgan who didn’t expect any other firms to follow TSLA and MSTR in adding crypto their reserves – Hong Kong-listed Meitu Inc., which makes image and video processing software, said it had purchased $22 million in ether and $17.9 million of bitcoin, making it the first time a firm has disclosed a major purchase of ETH for its treasury.

While the company said that while buying crypto helps diversify its holdings away from cash, „More importantly, the Board considers this a demonstration to investors and stakeholders that the Group has the vision and determination to embrace technological evolution, and hence preparing its foray into the blockchain industry.“

The question is – will any of this hold until the cash open tomorrow?

Tyler Durden
Sun, 03/07/2021 – 18:18
ZeroHedge News
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