Fintech Focus For May 24, 2021

Quote To Start The Day: “First, have a definite, clear practical ideal; a goal, an objective. Second, have the necessary means to achieve your ends; wisdom, money, materials, and methods. Third, adjust all your means to that end.”

Source: Aristotle

One Big Thing In Fintech: Robinhood Markets Inc unveiled a new platform that will give retail investors the opportunity to buy shares in initial public offerings, something that has long been the exclusive domain of Wall Street funds.

Source: Reuters

Other Key Fintech Developments:

• Wells Fargo funding insurtech round.
• Large APAC banks push fintech bets.
• Crypto and the future of Brazil banks.
• Vela and Exegy merge, expand data.
• JPM unveils solo healthcare venture.
• FTX to raise $1B at a $20B valuation.
• Fed plans to publish paper on CBDC.
• The new areas of fintech disruptions.
• Is MoneyLion building an open bank?
• CaixaBank taps innovation networks.
• RBC expanding AI-based trade tech.

Watch Out For This: As America reopens, more than 37 million people are expected to travel for the Memorial Day holiday weekend -- a big boost from last year's record low.

Source: CNN

Interesting Reads:

• tastytrade - 10 years and counting.
• Rotation strengthened bull market.
• Search volume for crypto rocketing.

Market Moving Headline: Last week, U.S. stock index futures auctioned sideways-to-higher, as participants looked to price in emerging dynamics with respect to rising inflation, fiscal and monetary tightening, COVID-19 concerns, political risks, and the like.

Key Takeaways:

- Bitcoin's weekend crash churns stomachs.

- Tone on adjusting monetary policy altered.

- Indices were sideways-to-higher last week.

In the coming sessions, participants will want to focus their attention on where the S&P 500 trades in relation to its $4,177.25 composite high volume area (HVNode).

In the best case, the index trades sideways or higher; activity above the $4,177.25 HVNode puts in play the $4,227.00 point of control (POC). Initiative trade beyond the POC could reach as high as first the $4,238.00 overnight all-time high and then, the $4,294.75 Fibonacci-derived price extension, a typical recovery target.

Source: Physik Invest