🪜Markets continued to moon with Tesla💰

Stocks jumped higher despite hawkish comments by Uncle Powell and a rise in yield of bonds. 

While rising yields are typically bad for stocks, investors are scooping up badly beaten down stocks since the S&P 500 fell into the correction territory. 

Still the rally has some grounding given that economic growth is still robust and the real GDP growth is expected to remain robust at 3.6% this year. 

Pika World will remain cautious as the new earning season will shed light on the challenges felt by corporations and also the risk of any guidance or forecast trimming given the geopolitical risk spread effect.

Unfortunately, Pika Nat tesla was called away by option and missed out again on the massive run up; hence, Pika Nat will look for opportunity to re-gain exposure to the counter. 

🎉Bitcoin ETF?🗝

The SEC does not seem to welcome the idea of a Bitcoin ETF. It is delaying plans to list two Bitcoin ETFs such as those by Wisdom Tree until May 15. Under Gary Gensler, the SEC chairman isn’t embracing Bitcoin with warmth for a spot price ETF. 

However, the SEC has approved several future Bitcoin ETFs such as the tickers BITO and BTF, to name a few. Indeed, the SEC had signalled that it is not that ready for a Bitcoin ETF based on spot prices as it sees it as possible exposure to price manipulation and even fraud, which could lead to issues on the prices of the ETF underlying assets too. 

This comes as there is no direct governing and sharing of agreements on surveillance matters between the Bitcoin markets, which is unregulated and the US stock exchanges which are regulated (in the form of ETF listing). 

However, one cannot deny that the trend of cryptocurrency investment is on the rise.