The Market News Today: Port of Baltimore Closure Sparks Logistics Concerns

The Market News Today: Port of Baltimore Closure Sparks Logistics Concerns

Yen Hits 34-Year Low Against Dollar, Intervention Expected

The yen plunges to its weakest level against the dollar since 1990, hitting 151.97, just below its previous low of 151.95 in October 2022. Japanese officials, led by finance minister Shunichi Suzuki, signal readiness to intervene against disorderly FX moves. Bank of Japan Governor Kazuo Ueda underscores vigilant monitoring of currency shifts and their economic repercussions. Ueda emphasizes the significant impact of currency movements on Japan’s economy and prices, during his parliamentary address. This comes amidst recent policy adjustments by the central bank. (Reuters)

Extended Trading Highlights: GameStop, Direct Digital, Concentrix, nCino

In extended trading, GameStop drops 15% as revenue shrinks to $1.79 billion in Q4. Direct Digital shares plummet 46% after $1.2 million net loss, despite $41 million revenue. Concentrix falls 3% despite $2.57 adjusted EPS and $2.4 billion revenue, reaffirms yearly guidance. nCino stock surges 11% with fourth-quarter revenue hitting $123.7 million, marking a 13% increase from the previous year. (CNBC)

Bitcoin ETF Market Sees Reversal with $400 Million Inflow

Bitcoin’s ETF supply squeeze narrative, initially forecasted by Ki in mid-March with a six-month projection, saw a shift in recent weeks. Despite record-breaking inflows initially, consecutive net outflows were observed. However, new data from UK-based investment firm Farside highlights a reversal, showing a substantial $400 million net inflow on March 25, marking the highest influx in two weeks. This fluctuation underscores the dynamic nature of Bitcoin’s ETF market and its impact on investor sentiment and market trends.

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