The Japanese stock markets slipped to a one month long low as markets opened today, setting the tone for what could be a tough week ahead. Last week was weak for the global markets, thanks to a US holiday and worrying economic data. Energy was the only sector in the green on the Japanese Nikkei 225, whilst the vulnerable consumer goods fell the hardest, as economic worries pervade.
On Friday, the global soft drinks company Coca-Cola raised their year long forecasts on the back of strong sales in the first half of 2023. It’s not just the famous Coca-Cola that they own, but also many other brands including Monster energy drinks, Fanta, Sprite and Costa Coffee. It’s believed that sales have been boosted by an ever growing demand in developing nations, as well as a generalised increase in purchases of sparkling and iced coffee drinks.
Blackrock, one of the world’s largest asset managers and ETF providers, filed a proposal to the SEC, the US regulators, to launch a Bitcoin ETF. Whilst the SEC, and other global regulators have ongoing concerns about the volatility and the ways in which they ought to regulate crypto, Bitcoin seems to be a favoured, more stable option. If it’s successful, the ETF could make Bitcoin, and eventually other cryptocurrencies, more accessible and attractive to the retail market.
Sources: Nasdaq, Reuters, IG, Sharecast