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Sylvester Turner, a prominent figure in Texas politics, died at 70, leaving behind a legacy that spanned decades of public service.

From his early years in the Texas Legislature to his tenure as Houston’s mayor and, most recently, his brief stint in the US House of Representatives, Turner’s political career was marked by advocacy, resilience, and leadership.

His passing, just two months into his first congressional term, has left a significant void in Houston’s political landscape and raised questions about the future of Texas’ 18th Congressional District.

Turner’s career in public service was defined by his ability to navigate complex political landscapes, champion bipartisan solutions, and advocate for underrepresented communities.

His leadership in times of crisis, including natural disasters and public health emergencies, cemented his reputation as a steadfast and pragmatic leader.

His death has not only impacted Texas politics but has also altered the balance of power in Congress, where Republicans now hold a slim 218-214 majority.

Sylvester Turner: a political career built on perseverance

Born and raised in Houston, Turner’s journey into politics began in the Texas House of Representatives, where he served for nearly 27 years.

His tenure was marked by a strong focus on economic development, education, and social justice initiatives. Turner later transitioned into city leadership, becoming Houston’s mayor in 2016.

During his two terms, he played a pivotal role in navigating the city through multiple crises, including Hurricane Harvey and the COVID-19 pandemic.

His time as mayor was characterised by significant infrastructure projects, flood mitigation efforts, and a focus on improving public services.

Turner’s ability to bring together diverse political factions enabled him to push through critical policies aimed at strengthening Houston’s economy and community resilience.

He completed his second term in 2024 and subsequently ran for the congressional seat left vacant by the late Sheila Jackson Lee.

Winning by a significant margin, Turner was sworn into office in January 2025, marking a new chapter in his decades-long public service.

A sudden passing with political consequences

Turner’s unexpected death has sent shockwaves through the political community, coming at a critical time for Democrats in Congress.

He passed away due to enduring health complications, with his death classified as an apparent natural cause by the Metropolitan Police Department in Washington, D.C. Emergency responders were called to his residence early Wednesday morning, where they found him unresponsive.

His passing means Republicans now hold a narrow majority, giving them additional leverage in legislative negotiations. Governor Greg Abbott is expected to announce a special election to fill the vacant seat, though no immediate timeline has been set.

His death also comes at a time when key legislative battles are unfolding in Washington. With his seat temporarily vacant, House Republicans have a slightly wider margin to advance policy agendas, including discussions on extending Trump-era tax cuts.

The implications of Turner’s absence will likely be felt in upcoming congressional sessions, especially on issues that directly impact Houston and its constituents.

Remembering Sylvester Turner’s impact

Turner’s passing has prompted an outpouring of tributes from political figures across the spectrum. President Joe Biden described him as a “remarkable Congressman, Mayor, father, and grandfather,” acknowledging his lifelong dedication to public service.

Speaker Mike Johnson and House Minority Leader Hakeem Jeffries also expressed their condolences, recognising his contributions to both state and national politics.

Turner’s commitment to his constituents was evident even in his final public statements.

On the night of President Donald Trump’s address to Congress, he took to social media to advocate against Medicaid cuts, highlighting the struggles faced by families who rely on the programme.

His advocacy for social programmes, infrastructure development, and community resilience will remain a defining aspect of his legacy.

While Houston and the nation mourn his passing, Turner’s impact on the city and the broader political landscape will not be forgotten.

His leadership during challenging times, dedication to bipartisanship, and unwavering commitment to public service solidify his place as one of Texas’ most influential political figures in recent history.

The post Who was Sylvester Turner? A look at his legacy in Houston and beyond appeared first on Invezz

The Organization of the Petroleum Exporting Countries and allies’ decision to raise crude oil production from April seems more like a move to please US President Donald Trump. 

The eight OPEC+ countries that voluntarily reduced their oil production levels had reached a consensus on Monday to gradually increase output and reverse these cuts starting from April, as previously outlined in their agreement.

This decision includes a production increase specifically granted to the United Arab Emirates. As a result of these combined increases, the total oil production from OPEC+ countries is projected to rise by 138,000 barrels per day in the upcoming month. 

This increase in production could have implications for global oil prices, supply and demand dynamics, and the overall energy market.

Experts had expected the cartel to once again extend these cuts beyond the end of March. OPEC+ had extended oil output cuts multiple times last year due to poor demand outlook for the commodity. 

Zain Vawda, market analyst at OANDA, said in a note:

Some including myself thought they might delay this increase toward the second half of 2025 at the earliest. The move is likely to please President Trump, who has been pushing OPEC to raise output. 

Trump pressures OPEC

On January 23, Trump said he will pressure Saudi Arabia and OPEC to decrease oil prices. 

Trump was addressing OPEC and other world leaders gathered in Davos on Thursday.

He urged Gulf nations to lower oil prices, stating that this could contribute to ending the Russian war in Ukraine.

“If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue – you got to bring down the oil price.”

“They should have done it long ago. They’re very responsible, actually, to a certain extent, for what’s taking place,” Trump added.

However, the oil market had expected OPEC to rollover the current output cuts as global prices have remained weak in the absence of meaningful demand growth. 

An expected oversupply in the market had also led investors to believe that OPEC would have maintained the status quo. 

“The increase is likely to make President Trump happy, given the pressure he’s been putting on OPEC to boost supply,” analysts at ING Group said.

Oil prices slump

Oil prices have continued to fall after OPEC agreed to go ahead with its planned output increase from April. 

“Oil prices reacted to the announcement with significant losses, as the market had expected a further postponement of the production increase due to the too low price level from the perspective of the OPEC+ countries and the high level of uncertainty regarding the effects of tariffs and sanctions,” Carsten Fritsch, commodity analyst said. 

Brent oil prices on the Intercontinental Exchange have fallen 4.7% since the close on Friday. Brent crude has also dipped below the $70 per barrel mark for the first time since September. 

Source: OANDA

“The recent sell-off since oil peaked in mid-January has been relentless. Despite this, the daily MACD, while in negative territory, is still not what one would describe as oversold,” said David Morrison, senior market analyst at Trade Nation. 

“This raises the possibility that there could be further price weakness.”

At the time of writing, the Brent crude oil on the Intercontinental Exchange was at $69.49 per barrel. 

Oil oversupply

The current scenario in the oil market indicates an oversupply of crude oil in 2025. 

The International Energy Agency has forecast that oil supply from countries outside of the OPEC+ alliance is likely to increase by 1.5 million barrels per day in 2025. 

This is expected to outstrip demand growth for oil by more than 400,000 barrels a day, according to IEA. 

With OPEC deciding to increase output from April, supply of oil is expected to rise further. This expectation has already weighed on oil prices. 

Meanwhile, OPEC’s daily oil production increased by 320,000 barrels in February to 27.35 million barrels per day, according to a Bloomberg survey. 

Iraq was responsible for most of the increase, raising output by 150,000 barrels per day to 4.16 million, exceeding its 4 million target. 

Libya, Venezuela, and the UAE also increased production.

Deeper production cuts are expected to be implemented soon by countries that have overproduced in recent months to compensate for the deficit.

Even with these cuts, production is set to increase from April, affecting oil balances across the world as OPEC turns on the taps.

“With their decision, the OPEC+ countries are meeting the demands of US President Trump, who had called on OPEC to increase oil production,” Fritsch said.

The post OPEC+ move seeks to please Trump but risks worsening oil oversupply appeared first on Invezz

The US dollar index (DXY) has suffered a harsh reversal this week as the greenback plunged against most currencies. It plunged to $104.30, its lowest level since November 6, and about 5.35% from its highest level this week. So, what next for the DXY index ahead of the nonfarm payrolls (NFP) data?

US dollar index falls ahead of US NFP data

This week, the US dollar index continued its strong downward trend as traders waited for the upcoming nonfarm payrolls (NFP) data. 

Economists are pessimistic about the job creation in February as business confidence in the United States fell. 

This view was confirmed on Wednesday when ADP published the latest private payroll numbers. The report showed that the private payrolls rose by just 77,000 in February, lower than the median estimate of 141,000. 

This decline is likely because American companies are concerned about Donald Trump’s policies. While most of them appreciate his deregulation strategies, many of them are concerned about tariffs.

Read more: Target braces for price increases as new Trump tariffs take hold

Economists expect the upcoming NFP data to show that the economy created 156,000 jobs in February, higher than the previous month’s 143k. 

They also expect the report to show that the unemployment rate remained at 4.0%, while wage growth held steady. 

The official NFP data will likely be weaker than expected because, unlike the ADP report, this one includes the government payrolls. There are chances that the US government has slowed its hiring, while Elon Musk’s Department of Government Efficiency (DOGE) has purged many employees. 

Federal Reserve interest rate cuts

The DXY index has plunged as the odds that the Federal Reserve will slash interest rates more times this year as the economic slowdown accelerates. A recent tracking data by the Atlanta Fed hinted that the economy will grow negatively in the first quarter. 

The main reason for the economic weakness is the fact that tariffs will have an impact on all parts of the economy. 

Trump has added tariffs on all goods imported from its top three trading partners like Canada, Mexico, and China. These tariffs will push more people to abandon major purchases and companies to fire their staff. 

US bond yields have pulled back in the past few months, with the 10-year moving to 4.35% and the 30-year and 2-year moving to 4.6% and 4.04%. While they have risen slightly in the past few days, they remain significantly lower than earlier this year. 

Therefore, the futures market anticipates that the Federal Reserve will slash interest rates three times this year, with the first cut happening in March. 

The next key catalyst for the US dollar index will be the upcoming European Central Bank decision on Thursday. This is an important thing for the DXY index since the euro is its biggest constituent. Analysts expect the bank to cut interest rates by another 0.25%.

DXY index technical analysis

US dollar index chart by TradingView

The daily chart shows that the US dollar index peaked at $110.16 earlier this year and has now erased most of those gains. It has dropped to the key point at $104.3, the lowest level since November 8.

The DXY index has slipped below the 50% Fibonacci Retracement level and the 50-day and 200-day Weighted Moving Averages (WMA). Also, the MACD and the Relative Strength Index (RSI) have tilted downwards. 

Therefore, the US dollar index will likely drop to the 61.8% retracement level at $104 and then resume the uptrend. More losses will be confirmed if it crashes below that level. 

The post DXY index: Here’s why US dollar crashed ahead of NFP data appeared first on Invezz

The CAC 40 index has done well this year and is hovering at its highest level on record, as focus shifts to the upcoming European Central Bank (ECB) interest rate decision. It was trading at €8,173 on Thursday, a few points below the all-time high of €8,260. 

European Central Bank decision ahead

The CAC 40 index has surged this year, mirroring the performance of other European indices like the German DAX and Spain’s IBEX 35. The Stoxx 50 and 600 indices have surged to their highest levels on record.

This performance happened as investors ignored the recent warnings from Donald Trump about tariffs. Trump has hinted that he will apply a 25% tariff on European goods as he works to narrow the trade deficit that exists between the two regions. 

He believes that tariffs will encourage more European companies to move to the United States, which is a critical market. Trump also hopes to raise money using tariffs and offset them by cutting taxes on consumers and businesses. 

The challenge, however, is that Europe is a major buyer of American goods, meaning that retaliations may be painful to the US. 

The next key catalyst for the CAC 40 index will be the upcoming European Central Bank (ECB) interest rate decision. Economists expect that the bank will continue cutting rates this week to support the economy. Recent ECB cuts have helped to support European equities, including those in France. 

Chinese economic recovery

The CAC 40 index has done well as investors target the performance of the Chinese economy. Beijing has set a growth target of 5% for this year even as it enters into a trade war with the United States. 

Macro data released this week showed that the Chinese economy was recovering. For example, the manufacturing and services PMI figures have remained above the expansion zone of 50.

CAC 40 index companies are highly exposed to the Chinese economy. This is specifically important to luxury group companies like LVMH, Kering, and Hermes, which have made billions of euros in the country. 

Analysts are optimistic that the Chinese economy will do well this year, which will provide more catalysts to these French companies. Also, with tensions between Europe and the US rising, there is a likelihood that these countries will pivot to China. 

Further, French stocks have done well as European countries vow to boost spending, especially in the defense industry. 

CAC index top movers in 2025

Most companies in the CAC 40 index have done well this year, with many of them rising by double digits. 

Thales stock price has jumped by over 76% this year, making it the best-performing company in the index. Its growth happened as its key segments like defence, aerospace, and cyber space saw significant demand. 

Societe Generale stock price has soared by over 48% this year, while BNP Paribas, Bouygues, Sanofi, and EssilorLuxottica have soared by double digits. 

Read more: This DAX index stock is up 95% in 2025: can the RHM rally continue?

CAC 40 index analysis

CAC index chart by TradingView

The weekly chart shows that the CAC 40 index has surged in the past few months. It has remained above the ascending trendline that connects the lowest swings since September 2022.

The index has moved above all moving averages. Also, it has formed an ascending triangle pattern whose higher side is at €8,247. This triangle is one of the most bullish continuation signs. 

The CAC index has remained above the Ichimoku cloud indicator. Therefore, the stock will likely keep rising as bulls target the next psychological point at €8,500. This view will be confirmed if it moves above the resistance point at €8,247. The alternative scenario is where it drops to the ascending trendline. 

The post CAC 40 index forecast: here’s why it may surge to €8,500 appeared first on Invezz

The DAX index has continued to fire on all cylinders this year as it surged to its all-time high this week. It jumped to a high of €23,100, bringing the last twelve-month gains to 32% and the year-to-date high performance to 16%. This means that the index has beaten its American peers like the Nasdaq 100 and S&P 500.

Rheinmetall’s stock leads the DAX index in 2024

Most DAX index constituent companies are doing well this year, with only six constituents being in the red.  

Rheinmetall, a leading German industrial giant, has become the best-performing company in the index. Its stock is up by 95% this year and by 180% in the last 12 months. It has jumped by over 2,450% in the last decade, making it the top gainer in the DAX index over the years. 

The strong Rheinmetall share price surge has transformed it into a €53 billion juggernaut and the 12th biggest company in Germany. 

For starters, Rheinmetall is one of the biggest companies in the defense industry. It builds products that are used by militaries in Europe, North America, and other countries. 

Rheinmetall operates its business in five key divisions: vehicle systems Europe, Vehicle Systems International, Weapon and ammunition, electronic solutions, and power systems. 

Its top products are ammunition, tactical vehicles, logistic vehicles, propulsion systems, protection systems, and power generators. 

Rheinmetall stock price has surged as investors reacted to the ongoing trends in geopolitics under Donald Trump. Trump has called on European countries to shoulder the burden by increasing their defense spending. 

Read more: These DAX index companies are firing on all cylinders

Most European leaders have also expressed concerns that the United States is unreliable and that they should boost their spending.

Just this week, Germany shocked the market by announcing that it would loosen its fiscal chains and transform the defense spending. Its goal is to spend over €500 billion in the next few years to modernize its defense sector. 

Emmanuel Macron has also called on Europe to raise its national army to bolster its defense against Russia. 

All these factors have played in Rheinmetall’s favor as the company is expected to receive more orders in the coming months.

Read more: Rheinmetall stock jumps as Europe boosts defense spending

Growth momentum is continuing

The most recent financial results showed that Rheinmetall’s business was doing well as demand rose. Sales rose by 40% to €2.45 billion, while the operating margin jumped to 12.3%. A 40% annual growth for a company like RHM is a good thing since these metrics are often common among new tech names. 

The company’s business continues to receive huge orders, which has pushed its order backlog to over €50 billion.

Rheinmettal expects that its annual revenue for 2024 was €10 billion, a big increase from the €7.2 billion it made a year earlier. Its margins are also expected to keep growing, helped by its strong scale. The operating margin will be about 15%, higher than the 12.8% it made a year earlier. 

Rheinmetall share price analysis

RHM stock chart by TradingView

The weekly chart shows that the Rheinmetall stock price has been in a strong surge in the past few years. It has continued to cross major resistance levels in this period. For example, it recently rose above the key resistance level at €1,000. 

The stock has remained above all moving averages, a sign that the momentum is gaining steam. The Average Directional Index (ADX), a popular indicator that measures the strength of a trend, has risen to 44. 

However, the stock has become highly overbought, with the Relative Strength Index (RSI) and the Stochastic RSI moving to the extreme overbought level. Therefore, the stock will likely pull back, and possibly retest the support at €1,000. 

The post This DAX index stock is up 95% in 2025: can the RHM rally continue? appeared first on Invezz

Unicredit share price has been a shining star in the banking sector in the past few years. UCH gas surged by over 560% in the last five years, beating the S&P Bank ETF (KBW), which has jumped by 80% in this period. This growth has transitioned Unicredit into a €80 billion juggernaut in the banking sector. 

Recently, however, a new star in the European banking industry: Societe Generale, the third-biggest bank in France after BNP Paribas and Credit Agricole. 

Societe Generale stock price has surged by 50% this year, beating most banks globally, including popular names like Goldman Sachs, Morgan Stanley, and Bank of America. It has soared by 83.58% in the last 12 months, and has just crossed Unicredit’s performance, which is up by 83.3%.

Read more: How Unicredit share price outperformed European banks

Why Societe Generale stock is surging

Societe Generale is one of the biggest banking groups in Europe. Established 160 years ago, the company now serves over 25 million customers across the retail and corporate sectors. 

The company offers its solutions across three divisions: French retail, private banking, and insurance, global banking, and international retail.

Societe Generale share price has surged after it published its financial results in February. Its revenue soared by 6.7% in the fourth quarter to €26.7 billion. This revenue figure was about 5% higher than its previous guidance. 

The company attributed this performance to its robust growth in France, its core market, where the net interest income jumped. The NII figure rose even as the European Central Bank (ECB) slashed interest rates.

Further, Societe Generale’s business thrived because of its Global Banking and Investor Solutions business whose revenues jumped above the €10 billion mark. 

The company has also become highly profitable, helped by its cost reduction policies. Its cost-to-income ratio dropped to 69%, lower than the target of 71%.

This growth has helped the company reward its shareholders through dividends and buybacks. It has increased its distributions by over 75% since 2023 as it returned most of the excess profits to its shareholders. 

Societe Generale committed to return €1.74 billion to shareholders in February through dividends and share repurchase. It also received the ECB approval to boost its payout ratio to 50% of the net income.

Most importantly, Societe Generale boosted its 2025 outlook. It now expects that its revenue will grow by 3%, a good number considering that the ECB rate cuts will affect its net income margin. 

Read more: Why is Societe Generale making a comeback to gold trading?

Societe Generale share price analysis

Societe Generale stock chart by TradingView

The weekly chart shows that the Societe Generale stock price has been in a strong surge in the past few months. It has soared in the last nine consecutive weeks, the longest winning streak in years. 

This surge happened after the stock formed a giant megaphone pattern between February 2022 and last year. This pattern is made up of two ascending and diverging trendlines and often leads to more gains over time.

The Societe Generale share price has jumped above the crucial resistance level at €31.65, the highest swing in 2021. It also remains significantly higher than the 100-week and 50-week moving averages.

Further, the MACD and the Relative Strength Index (RSI) have continued rising and remain above the overbought level. 

Therefore, the outlook for the Societe Generale stock is bullish, with the next target being at €50. However, there is a likelihood that it will drop and retest the support at €31.65 and then resume the uptrend. This price action is known as a break and retest and is one of the most bullish signs in the market. 

The post Move on Unicredit: Societe Generale stock is firing on all cylinders appeared first on Invezz

Unicredit share price has been a shining star in the banking sector in the past few years. UCH gas surged by over 560% in the last five years, beating the S&P Bank ETF (KBW), which has jumped by 80% in this period. This growth has transitioned Unicredit into a €80 billion juggernaut in the banking sector. 

Recently, however, a new star in the European banking industry: Societe Generale, the third-biggest bank in France after BNP Paribas and Credit Agricole. 

Societe Generale stock price has surged by 50% this year, beating most banks globally, including popular names like Goldman Sachs, Morgan Stanley, and Bank of America. It has soared by 83.58% in the last 12 months, and has just crossed Unicredit’s performance, which is up by 83.3%.

Read more: How Unicredit share price outperformed European banks

Why Societe Generale stock is surging

Societe Generale is one of the biggest banking groups in Europe. Established 160 years ago, the company now serves over 25 million customers across the retail and corporate sectors. 

The company offers its solutions across three divisions: French retail, private banking, and insurance, global banking, and international retail.

Societe Generale share price has surged after it published its financial results in February. Its revenue soared by 6.7% in the fourth quarter to €26.7 billion. This revenue figure was about 5% higher than its previous guidance. 

The company attributed this performance to its robust growth in France, its core market, where the net interest income jumped. The NII figure rose even as the European Central Bank (ECB) slashed interest rates.

Further, Societe Generale’s business thrived because of its Global Banking and Investor Solutions business whose revenues jumped above the €10 billion mark. 

The company has also become highly profitable, helped by its cost reduction policies. Its cost-to-income ratio dropped to 69%, lower than the target of 71%.

This growth has helped the company reward its shareholders through dividends and buybacks. It has increased its distributions by over 75% since 2023 as it returned most of the excess profits to its shareholders. 

Societe Generale committed to return €1.74 billion to shareholders in February through dividends and share repurchase. It also received the ECB approval to boost its payout ratio to 50% of the net income.

Most importantly, Societe Generale boosted its 2025 outlook. It now expects that its revenue will grow by 3%, a good number considering that the ECB rate cuts will affect its net income margin. 

Read more: Why is Societe Generale making a comeback to gold trading?

Societe Generale share price analysis

Societe Generale stock chart by TradingView

The weekly chart shows that the Societe Generale stock price has been in a strong surge in the past few months. It has soared in the last nine consecutive weeks, the longest winning streak in years. 

This surge happened after the stock formed a giant megaphone pattern between February 2022 and last year. This pattern is made up of two ascending and diverging trendlines and often leads to more gains over time.

The Societe Generale share price has jumped above the crucial resistance level at €31.65, the highest swing in 2021. It also remains significantly higher than the 100-week and 50-week moving averages.

Further, the MACD and the Relative Strength Index (RSI) have continued rising and remain above the overbought level. 

Therefore, the outlook for the Societe Generale stock is bullish, with the next target being at €50. However, there is a likelihood that it will drop and retest the support at €31.65 and then resume the uptrend. This price action is known as a break and retest and is one of the most bullish signs in the market. 

The post Move on Unicredit: Societe Generale stock is firing on all cylinders appeared first on Invezz

Stellantis share price remains on edge, and is at risk of further downward momentum as its growth and profits slow and its exposure to the United States remain. STLA stock was trading at $12.90 in New York, down by over 53% from its lowest level in 2023. So, is it safe to buy the dip, hoping for a quick turnaround or sell the rip?

Stellantis business is facing risks

The automobile industry is going through the biggest changes on record. The biggest one is that China has become a major industry player as its brands have improved. This includes popular names like Nio, Xpeng, BYD, and Li Auto. 

All these brands are experiencing double-digit growth, a trend that may continue as they increase their focus to the international market. As a result, analyst caution that many international brands that made a fortune in China will now continue slowing in the coming years.

The newest risk facing these companies is that the United States has implemented huge tariffs that could have major impacts going forward. Trump has added a 25% tariff on all products brought in the country from Canada and Mexico.

And while he has paused tariffs on the auto sector, he has insisted that they will go on later next month.

Trump hopes that these tariffs will force companies like Stellantis and General Motors to start manufacturing their vehicles in the United States.

Stellantis is highly exposed to tariffs on US goods because of its large presence in Mexico. It manufactures a third of the Ram truck in Mexico and two Jeep models in the country. Additionally, the firm makes its Chrysler model in Ontario, Canada, and is about to open a Dodge Charger facility in Canada.

Stellantis will, therefore, decide whether to maintain these locations or shift its vehicle production in the US. It may decide to move some of its Ram manufacturing to its facility in Detroit.

What is clear, however, is that Stellantis will be one of the most affected companies because these challenges come at a time when its business is in a crisis.

Profits have crashed

Stellantis’ business has gone through a rough patch in the past few years. This slowdown is mostly because of its perennial underinvestment in its American brands like Ram and Chrysler. Many of its other brands like Jeep, Alfa Romeo, and Maserati have continued to lose market share in key markets. 

The most recent results showed that Stellantis shipments dropped by 12% to 5.4 million in 2024, which caused its revenue to crash 17% to €156.9 billion.

More data showed that the adjusted EPS dropped by 61% to €2.48, while the industrial free cash flow dropped by 147% to €6 billion. This continued decline may continue now that the company does not have a CEO.

Therefore, a combination of low revenue growth, management uncertainty, tariffs, and competition means that Stellantis will remain on edge for a long time.

Stellantis share price analysis: death cross nears

STLA stock chart | Source: TradingView

The weekly chart shows that the STLA share price has crashed this year and is hovering near its 61.8% Fibonacci Retracement level. It has dropped from $27.6 in 2024 to the current $12.89. 

Worse, Stellantis share price is about to form a death cross pattern as the spread between the 50-week and 200-week moving averages has narrowed. This pattern often leads to further downside, especially when an asset lacks a clear catalyst.

Therefore, Stellantis stock price will likely have a bearish breakdown, with the next level to watch being at the 78.6% retracement point at $9. 

The post Stellantis share price has collapsed: death cross points to more pain appeared first on Invezz

With the White House Crypto Summit just days away, attention is turning to WLFI, a DeFi project backed by the Trump family, and its cryptocurrency holdings.

Reports indicate WLFI has amassed $336 million in digital assets, including Bitcoin and Ethereum, prompting questions about whether these movements could influence the market before key policy announcements.

The timing of these acquisitions, particularly the latest $21.5 million purchase, has led to speculation about potential strategic positioning ahead of the event.

WLFI’s crypto buys trigger speculation

With just over a day left before the summit, where former President Donald Trump is expected to outline a Bitcoin strategy, WLFI has been actively accumulating digital assets.

The most recent transaction saw the purchase of $10 million worth of Wrapped Bitcoin (WBTC), $10 million in Ethereum (ETH), and $1.5 million in MOVE tokens.

Blockchain data from EmberCN monitoring suggests that WLFI has spent $336 million acquiring a total of nine tokens, including Ethereum, Wrapped Bitcoin, TRX, LINK, AAVE, ENA, MOVE, ONDO, and SEI.

距离 3/8 凌晨的白宫加密峰会还有一天多的时间 (会上特朗普可能会公布比特币储备战略),特朗普家族支持的 DeFi 项目 WLFI 又购买了 $2150 万的代币。
包括:$1000 万的
$WBTC (110 枚)、$1000 万的 $ETH (4468 枚)、$150 万的 $MOVE (342 万枚)。

到目前为止 WLFI 总共是花了 3.36 亿 U 配置购买过 9…

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A significant portion of these holdings were transferred to Coinbase Prime, but it remains unclear whether they were liquidated.

While WLFI maintains that no assets have been sold, on-chain data shows unrealized losses amounting to approximately $88 million.

Among the holdings, ENA has seen the steepest percentage drop, losing 63% of its value, while Ethereum represents the largest unrealized loss in dollar terms, with a $67.35 million decline—31% from its initial purchase price.

Trump’s reserve plans remain unclear

Trump has hinted at a cryptocurrency reserve plan, indicating that assets such as XRP, Solana (SOL), and Cardano (ADA) could be included.

However, in a follow-up statement, he clarified that Bitcoin and Ethereum would remain the primary focus of the initiative.

Commerce Secretary Howard Lutnick recently suggested that Bitcoin would receive special treatment compared to other digital assets, though specific details remain undisclosed.

This raises questions about whether WLFI’s asset allocations align with broader policy objectives or if the timing of purchases is coincidental.

Crypto summit expected to impact markets

The highly anticipated White House Crypto Summit on March 8 is expected to provide clarity on Trump’s vision for digital assets.

Market participants are closely watching the event, given its potential impact on regulatory decisions and institutional investment in the sector.

The summit, scheduled from 1:30 p.m. to 5 p.m. ET, will be led by David Sacks, who has been positioned as Trump’s AI and crypto policy lead.

Several key figures from the cryptocurrency industry and members of Trump’s digital asset task force are set to attend.

Ahead of the summit, Bitcoin and other cryptocurrencies experienced a slight price recovery, reflecting growing anticipation around potential policy announcements.

While Trump’s stance on crypto remains a focal point, the event is expected to shape discussions on regulation, institutional adoption, and the future of digital asset markets in the US.

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The cryptocurrency market surged on March 6, adding nearly 4% in value as investor sentiment improved following US President Donald Trump’s announcement of a national crypto reserve.

This initiative, which includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP, has fuelled optimism after February’s sharp decline triggered by trade war concerns.

With the total market capitalisation approaching $3 trillion, traders are closely watching Trump’s upcoming crypto summit at the White House.

The event, set for Friday, is expected to provide insights into the government’s evolving stance on digital assets.

Meanwhile, market indicators show increased participation, with rising futures open interest (OI) across major cryptocurrencies.

Bitcoin price climbs

Bitcoin’s price jumped nearly 5% in the past 24 hours, trading at $91,678. The leading cryptocurrency briefly peaked at $91,996.45 before stabilising.

Source: CoinMarketCap

The surge coincided with a 6.5% rise in BTC futures OI, reaching $50.83 billion, highlighting growing market confidence.

Bitcoin’s dominance in the market also climbed by 0.43% to 60.67%, outpacing altcoins and reaffirming its position as the primary driver of market momentum.

The recent rally suggests strong institutional and retail investor interest ahead of Trump’s summit, where regulatory clarity on crypto assets is anticipated.

Ethereum rises 5%

Ethereum followed Bitcoin’s upward trajectory, gaining over 5% over the past day to trade at $2,299. The asset fluctuated between $2,159.01 and $2,293.55, mirroring increased investor activity.

Source: CoinMarketCap

Ethereum’s futures OI rose by 6% to $20.03 billion, reflecting renewed market interest in the blockchain’s upcoming upgrades.

Ethereum’s recent performance has been bolstered by developers resolving key issues on the Sepolia testnet, paving the way for the highly anticipated Pectra upgrade.

With Ethereum’s market dominance at 9.2%, traders are closely monitoring its next move, particularly as broader bullish sentiment continues to influence prices.

Altcoins gain

XRP recorded a modest 1% gain, trading at $2.50, with an intraday range of $2.42 to $2.54. The token’s futures OI increased by 3.5% to $3.42 billion.

Source: CoinMarketCap

The rally comes amid reports of rising whale activity and an increase in active addresses on the XRP network. Speculation regarding the conclusion of Ripple’s lawsuit with the US Securities and Exchange Commission (SEC) has also contributed to market confidence.

Solana, another major altcoin, saw a 4% increase, reaching $149. The token’s price fluctuated between $140.60 and $149.64, driven by a 4% rise in futures OI.

Source: CoinMarketCap

With broader market trends favouring bullish activity, Solana continues to attract significant trader interest.

Meme coins and top movers

Meme coins also saw gains in line with broader market sentiment. Dogecoin (DOGE) climbed 5% to $0.2086, Shiba Inu (SHIB) gained 4% to $0.00001348, and Pepe Coin (PEPE) rose 3% to $0.000007152.

Meanwhile, several smaller altcoins recorded double-digit gains, highlighting increased speculation in the market.

Among the top gainers, Ondo (ONDO) and Cronos (CRO) both jumped 20%, trading at $1.18 and $0.08784, respectively. Movement (MOVE) rose 16% to $0.4677.

On the losing side, Story (IP) dropped 6% to $5.22, while Toncoin (TON) and Ethena (ENA) declined by 3% each.

As the market continues to navigate regulatory and macroeconomic developments, investor sentiment remains cautiously optimistic.

The fear and greed index still indicates ‘fear’ in the market, which some traders interpret as a potential buying opportunity. All eyes now turn to Trump’s crypto summit, where key policy announcements could shape the next phase of the market’s trajectory.

The post Crypto market update: Bitcoin, Ethereum, Solana, XRP rise ahead of Trump’s crypto summit appeared first on Invezz