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Today's Top Stories

  • Amid Ethereum "Merge," institutional investors prepare for massive volatility
  • Meta CEO Mark Zuckerberg says next VR headset to launch in October
  • Fed chairman Powell's hawkish Jackson Hole speech notes future "economic pain"

Crypto Bytes

Nerdist

 

Large Ether Traders Position for Volatility Spike

 

Amid the upcoming Ethereum "Merge," institutions are adopting a pretty exciting trading strategy. Known as a "long strangle," the options trading strategy being employed aims to make a profit from market volatility. The long strangle utilizes both call and put options to protect against market turbulence, and when the asset price swings enough in one direction, traders make money. More than anything else, this increased interest in volatility trading points to the emergence of more experienced traders in crypto. To pull off a trade like this, ample supplies of capital and expertise are needed.

 

Tech Bytes

Meta

 

Zuckerberg Says Meta’s Next VR Headset Will Launch in October

 

Speaking on the Joe Rogan Experience podcast this past Thursday, Meta CEO Mark Zuckerberg announced the company is launching its next VR headset this October. A sequel to the popular Oculus 2, this new headset will focus on "social presence" and come with features like eye-tracking and face-tracking. In other words, the headset will be specifically designed to capture facial expressions of users and replicate them onto their virtual avatars for enhanced, non-verbal communication. Also on the podcast, Zuckerberg stressed his ultimate vision of virtual reality where "your brain [is convinced] you're actually there." This new VR headset is just another step in that direction.

 

Week's Notable Decliners

  • Splunk (SPLK) -13.6%
  • Dell (DELL) -10.9%
  • Salesforce (CRM) -9.0
  • Nvidia (NVDA) -6.7
  • Marvell Technology (MRVL) -5.0
 

Earnings Next Week

  • Monday: Pinduoduo
  • Tuesday: Baidu, Best Buy, CrowdStrike, HP
  • Wednesday: NIO, Okta
  • Thursday: Broadcom, Lululemon
  • Friday: N/A

Econ Bytes

AP Photo

 

Fed’s Powell Vows to Battle High Inflation to Avoid ‘Far Greater Pain'

 

The Fed's annual conference in Wyoming saw Fed chairman Powell foreshadowing further interest rate increases. Going beyond that, however, the chairman went on to note that, "restoring price stability will take some time...". The Fed has carried out the balancing act of fighting inflation without triggering a recession, but Powell's statements on Friday clearly noted that economic pain is ahead. To put it plainly, he made sure to stress the likelihood of challenges in the job market as well as a possible jump in the unemployment rate. If one thing's for certain, chairman Powell and the Fed appear to be taking full responsibility for combatting inflation.

 

US Stock Indexes

  • Dow: -3.03%
  • S&P 500: -3.37%
  • Nasdaq: -3.94%
  • Russell 2000: -3.30%

rareliquid

 
 

Disclosure: This newsletter is meant for informational purposes only and is not investment advice. Please consult with your investment, tax, or legal advisor before making any investment decisions.

 

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