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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.7 occurred at 21:39 on June 8 near Kangding City, Ganzi Prefecture, Sichuan Province (29.92 degrees north latitude, 101.96 degrees east longitude). The final result is subject to the official rapid report.On June 8th, Citigroup stated that earnings growth driven by AI infrastructure development is expected to propel the S&P 500 to break the 8,000-point mark in 2026. The bank raised its year-end target for the S&P 500 to 8,100 points, representing an upside of over 9.5% from last Fridays closing price, up from its previous target of 7,700 points. Strategist Kronat predicts that S&P 500 earnings per share will reach $350 in 2026 and rise to $400 in 2027. Kronat stated, "The AI tailwind is driving a surge in the fundamentals of related industries, and we are confident that earnings will continue to exceed expectations by the end of the year." He pointed out that unexpectedly strong earnings in the first quarter were unusually common, and while unlikely to be sustained, the rate of positive surprises in the coming quarters will remain above normal. Kronat believes that earnings will replace valuation expansion as the main driver of the index. He added that although the uncertainty surrounding the US-Iran war, inflation, and the interest rate path may cause volatility, AI spending remains a focus for investors. Regarding concerns about an AI bubble, Kronat believes the markets fervor for AI growth is far from over. "We are in the middle of a phase where price-to-earnings ratios will moderate, and earnings growth will bear a greater responsibility," he said.Artificial intelligence chip maker Cerebras Systems (CBRS.O) rose about 5%, with at least nine brokerages initiating coverage of the stock.The Dow Jones Industrial Average opened 237.28 points higher, or 0.47%, at 51,104.06 on Monday, June 8; the S&P 500 opened 71.34 points higher, or 0.97%, at 7,455.08; and the Nasdaq Composite opened 390.62 points higher, or 1.52%, at 26,100.06.On June 8th, Morgan Stanley strategists stated in a report that the US dollar could weaken in the coming months if risk appetite improves and the Federal Reserve avoids raising interest rates. They noted that positive risk sentiment is unfavorable for the dollar in the absence of rising interest rates. However, they added that if the US economy outperforms other countries, leading to larger interest rate hikes, it would be more favorable for the dollar. "Given that both the European Central Bank and the Bank of Japan are expected to raise interest rates this month, narrowing interest rate differentials should encourage increased risk appetite, thus putting pressure on the dollar."

Carbon Neutral Bitcoin and Ethereum ETPs Listed on Swiss Exchange

Cory Russell

Apr 12, 2022 10:43

The two new ETPs on SIX are Bitcoin Zero (BTCO2) and Ether Zero (ETH2O).


The ETPs are the product of a campaign known as "Crypto becomes carbon neutral."


The debut took place at a time when the stock market was in free collapse.


While the crypto market and the stock market are two distinct things, investors can't seem to get enough of both. As a consequence, we are seeing the emergence of Exchange Traded Products (ETPs) (ETPs).


People desire something more sustainable even inside these ETPs, and carbon-neutral ETPs have been designed to meet that need.

Crypto Becomes Carbon Neutral

The influence of crypto on the environment has been a long-debated matter, with no clear answer in sight.


To put a stop to this, the European Union nearly outright outlawed proof of work, but the majority of members voted against it, saving Bitcoin, Ethereum, and other (PoW) cryptocurrencies.


Other businesses, on the other hand, are still attempting to become carbon-neutral, as did an ETP provider for the stock market.


In collaboration with the Swiss FinTech Innovation Lab of the Institute for Banking and Finance at the University of Zurich, Helveteq, a Swiss issuer of ESG-transparent investment products, launched the research-based project "Crypto becomes carbon neutral."


The two ETPs, Bitcoin Zero (BTCO2) and Ether Zero (ETHZ), were born from it (ETH2O).


"It is time to give investors the first carbon neutral crypto ETPs from a Swiss issuer," Dr. Christian Katz, the CEO of Helveteq, said. The relationship between the environment and the blockchain economy is becoming more widely recognized, and we must all work together to create long-term solutions."


These ETPs will be added to SIX's pool of 240 other investment products.

Perhaps Now Isn't the Best Time?

The introduction of the ETPs, which was announced today, was not the best timing given the current state of the crypto market. The market has lost more than $122 billion in total, forming a 6.25 percent long red candle.


However, even before today, the overall market capitalization had fallen below $2 trillion, and is at $1.841 trillion. As a result, there's a significant likelihood that this will have a detrimental impact on the launch of these ETPs.

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