US tech stocks under pressure ahead of FED speeches

While US stock markets continued to reach new all time highs and after the FED announced it would be starting its QE tapering in last week's meeting, we are seeing some increased selling pressure at the start of the week with US futures slightly down. This comes after Elon Musk announced over the weekend that he would be selling 10% of his Tesla shares (worth around $21 billion) depending on the results of a poll he held on Twitter, this in turn worried some investors who noted that selling such a significant stake could create significant downward pressure on the share price. On the other hand, it is worth noting that due to the elevated trading volume that Tesla shares experience, any potential impact could be significantly mitigated if the CEO were to spread that sale across several weeks. Finally, today's FED speeches could shed some light on the central bank's outlook heading into the final part of the year and could further elaborate on last week's decision to begin tapering and how that may impact stocks in the near future as the central bank attempts to not worry investors. 

Bitcoin approaches all time high as cryptos climb higher

After some time spent consolidating in the $60,000 range, Bitcoin has managed to break through the upper limit of the trading range and resume the upward move with the main crypto currency approaching it's recently reached all time high as it trades around $66,000. This positive sentiment is echoed across the majority of other coins with the total market cap once again nearing the $3 trillion mark and with Ethereum once again reaching a new high. While we have seen Bitcoin impact other crypto currencies in the past, a break past the previous all time high could lead to a significant increase in volatility and a potential domino effect as more investors enter the market or reallocate their funds.