Stocks are trending lower this week following U.S. Treasury Secretary Scott Bessent’s announcement that bond buybacks would double starting in September. This news sparked concern among investors already grappling with rising oil prices and a cautious earnings report from Walmart. On Thursday, all major indexes experienced sell-offs.
While stock markets retreated, Bitcoin saw a rally due to discussions between the White House and crypto industry leaders aimed at advancing the Clarity Act. Investors interpreted the increase in Treasury liquidity as a positive signal for riskier assets. Next week, the Personal Consumption Expenditures index will provide crucial data on inflation, with expectations of continued cooling.
In other news, Moderna’s stock surged 177% after positive results regarding its melanoma vaccine in a clinical trial. Meanwhile, Sociedad Química y Minera saw a significant boost due to a strong earnings report, largely influenced by a rebound in lithium prices.
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