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Market Overview

Fintech Focus For December 7, 2020


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Quote To Start The Day: Robinhood’s revenue model could easily disappear. They’ve made it clear that they are comfortable living on this regulatory edge.

Source: Tyler Gellasch

One Big Thing In Fintech: Congresswoman Maxine Waters has released a wide array of recommended policy changes and approaches to president-elect Joe Biden — a list that includes the rescinding of guidance from the Office of the Comptroller of the Currency focused on banks, cryptocurrencies and stablecoins.

Waters' letter also implicitly calls for "new leadership" at the OCC, though the phrase is used in connection with commentary related to climate change initiatives.

Source: The Block

Other Key Fintech Developments:

  • DeFi lending continues expanding.
  • China fretting over fintech’s power.
  • Shift Money Zagreb will start today.
  • Starling’s digital approach, growth.
  • Envestnet | Yodlee powers 86 400.
  • BBVA, Telefónica partner on loans.
  • Folio’s brokerage sold by Goldman.
  • Digit launches automated investing.
  • Visa on new trends shaping fintech.
  • There’s a dark side to DeFi’s boom.

Watch Out For This: Disturbing election night footage has emerged showing Georgia poll workers waiting for observers and news outlets to leave State Farm Arena in Atlanta after calling an end to counting for the night, before pulling out several large suitcases containing ballots from under a table.

Source: ZeroHedge

Interesting Reads:

  • California to face strict lockdowns.
  • HSBC could exit US retail banking.
  • EU, UK to resume Brexit trade talk.
  • Petco filed for IPO on pet demand.
  • China Moon probe completes dock.
  • Trump, McConnell may back relief.
  • Giuliani tested positive for COVID.
  • Goldman could relocate to Florida.
  • Bill on Chinese accounting passed.

Market Moving Headline: During last week’s trade, U.S. index futures broke out to new all-time highs.

Key Takeaways:
- Room for higher despite stretched sentiment.
- Confirmed upside multi-month balance-break.

Further, knowing that higher S&P 500 prices have been accepted, the following frameworks for next week’s trade apply.

In the best case, if participants manage to further spend time and build value above the $3,682.00 balance boundary, then initiative buyers remain in control — the nearest upside level of interest is the projection near $3,710.00.

In the worst case, an initiative drive below $3,682.00 would portend a response at the $3,667.75 high-volume node. Auctioning even lower would denote a clear change in conviction. As a result participants would look to whether the $3,640.00 balance boundary holds. Breaking that reference puts the rally on hold.

Source: Physik Invest


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Posted-In: BBVA California China DeFi Digit Envestnet | Yodlee EUFintech