Best Buy beats🛍️ Stocks gain📈 FOMC minutes🚦EUR, JPY, GBP⚠️ Bitcoin bottom? 🎢

FlowBank's hand-curated fresh financial news [header_noDither] 23.11.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_352527509] Best Buy jumped +12.7% after the electronics retailer’s third-quarter results came in ahead of expectations. The fact that it pulled off another strong quarter, despite headwinds probably accounts for the big jump. [Start Trading](113/cXx8Z04/VWJp776DHqVrW2-Wtzn6_n9r9W6phD5r4SK2hRN4nN_ch2-MK5V1-WJV7CgzTSW54lhlB3C3VVYW9g0XfB6hScJYW8fxzdR5C5S8TW2WcM1m6N782_W5sXpqb6rtryLN6GmZ-mfw3ZrW5gFmmg6JdH92W4gS_jc5v-wTTMq4QkVsMrbrW2ZqX5n8HG3hpW8vV_Pc4M5cmGW3YvmyL2Nldx1N5qLjy1X3xbdW2-D_Rt8zbsK0W75Kp6T3-jdZdW8scwHJ3fxbwcVlvgvS7MMr1VMFzgHjKSd96W1NM-0c7Kk5_9W4lr8Dx63mTcp37w71) Trader's Corner In focus • All eyes will be on the Fed minutes from the November meeting. Expect increased volatility in stocks and currency markets. • Speaking of currency markets, EUR, JPY, and GBP could shoot higher if the Fed minutes have a slightly dovish tone. • Lastly, Bitcoin bounced a few percent from Monday’s new 2-year low on modest short covering and risk-on sentiment in stocks. We will be watching whether the move could attract more buyers. Economic data • US Initial Jobless Claims, Building Permits, Core Durable Goods Orders, Crude Oil Inventories • EU Manufacturing PMI • German Manufacturing PMI, Service PMI • GBP Composite, Manufacturing, Services PMI Earnings • Deere • Banco Macro • Lufax Holding Crypto • Bitcoin managed to climb back above USD16'000, fueled by oversold technical conditions and a slight rebound in sentiment. But the industry shakeup continues to weigh heavily on sentiment. • Amid concerns over the future of Digital Currency Group (DCG) following the collapse of FTX, company CEO Barry Silbert told shareholders that while FTX owes its own Genesis Trading arm $575 million, the firm aims to emerge "stronger" from the crypto winter. [Table 23112022] [Start Trading](113/cXx8Z04/VWJp776DHqVrW2-Wtzn6_n9r9W6phD5r4SK2hRN4nN_ch2-MK5V1-WJV7CgPf1N3xRmKxTyRlRW6zxtmt4PcSP1W28DDj72J-d3ZN70nPsv2bZ8SW89kLLF3VZXr3W7F0kyH2xyZPvW3bn8rL2L0D4zW5qPJz68-JwpjW8RG68r3NvxsdW5dLh2f9lKKcJW9g3lDd8gHVpmW8lb8mj6mfjQGW8BZM7N955ntwVWzXb94T2pTwW6SMfYj18lKhcW7J9w7l24_2KFW7TJdJP2Tj9dQW7SkDJR9lmnnKVrY1BY3nhqXYW5DPPfl72RYt13lMx1) Market Recap Stocks closed higher buoyed by improving sentiment. A jump in Best Buy stock increased confidence about the upcoming holiday shopping season after the company raised its profit forecast for the year. Declining bond yields too were taken positively. Tech and cyclical stocks outperformed. Energy stocks jumped 3%, with crude up nearly 2% after Saudi Arabia pushed back on talk of higher OPEC+ crude production. And a weaker dollar together with hawkish comments from ECB's Nagel was supporting moderate gains in the euro. He said the ECB is looking to deliver another "robust" interest-rate increase in December. This morning, Stoxx50 futures are up 0.4%, following yesterday's rally on Wall Street. Momentum is positive as markets digest dovish comments from Fed officials and look forward to tonight's FOMC minutes. Chart Of The Day Bitcoin is retesting its lows of two weeks ago as Genesis struggles to raise funds to avoid bankruptcy. [BTC 22.11.2022](113/cXx8Z04/VWJp776DHqVrW2-Wtzn6_n9r9W6phD5r4SK2hRN4nN_b_2-MJQV1-WJV7CgC2sVYMzXg5TFG3tW8DJ6wB8zsSqvVJfSqn4ff4r9W1_yJ5f674VHtW7fw5Lg2G-6m2W4w7Fp12XhJf8W8Xz1Yg8_SBK7W3nlvf528_2RcW3skQ933WHn6qTkQmk22xt6jW1mJ05V3_H7kBVslSvX37wTdWW53LZgf2B0gsTW7-BgYT4F7z1hW5qgNs82JWY8MW5Zr0cD2cyNM3N3WG3CmwRvNmW3w4wHW96Bc8B3dKN1) FlowBank Blog FTX — destroying trust in what is supposed to be trustless [shutterstock_2224048131](113/cXx8Z04/VWJp776DHqVrW2-Wtzn6_n9r9W6phD5r4SK2hRN4nN_b_2-MJQV1-WJV7CgYSfW1lXCNs6RR3RKW8DKgz359QVJbN1XFyL05v0jYW4SdZNv1fzk24W67kBjN2h-yfnVSlVkL6r43lPW2D6MrK43TksnN6jqpBt7j-VJW48GPwq8Wq7j6W2w_t2s1YZTNLW7wGc_z7fm36SN3BqYr1MXSsCVFwgkF5h9DkjW40F47L14sQypW3ff6k13w5Vy0W8S_Fk29bsss2W25Znnp8NNm9qW49d03H6p5PCF37g71) After a tumultuous few days FTX looks to be facing imminent collapse, the poster boy of the crypto world has almost overnight become the pariah, while almost single handedly setting the industry back years by destroying trust in what is trustless. 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