(DJI) Retail Stocks Help Push Dow Jones Industrial Average Price Up, Another Crypto Loses Value In The Market

S&P 500 Index Potentially Return To Its Bearish Area

Summary:

  • DJIA sees an overall increase on Tuesday.
  • DEI Crypto loses is 1-to-1 US

Dow Jones index rallies on Tuesday amidst retailers earning announcements

Since the market opened on Tuesday, the Dow Jones has rallied almost 1%. This increase comes as U.S retail stocks beat investor estimates. Although Walmart's (WMT) stock fell after they made their earnings announcement on Tuesday, other retail stocks such as Home Depot, JD.com (JD), Sea (SE) and On Holding (ONON) saw gains causing an overall increase in the index.

(DJI) Retail Stocks Help Push Dow Jones Industrial Average Price Up, Another Crypto Loses Value In The Market - 1

DJIA Price Chart

Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM

Cryptocurrency DEI faces big losses on Tuesday

In the current wider economic market, it has become clear to investors that cryptocurrency prices are in fact correlated to events on the stock market. UST and Luna have faced huge losses recently and another crypto seems to be following suit, DEI. DEI has just lost its 1-to-1 peg with the US Dollar and has lost 20% on the cryptocurrency market today. This fall created a mismatch and DEI’s collateral ratio dropped more than 40%, this makes the redemption of DEI coins due to the lack of capital backing the stable coin.

The creators of DEI Deus Finance have suspended the coin redemption in an attempt to stabilize the coin's price.

(DJI) Retail Stocks Help Push Dow Jones Industrial Average Price Up, Another Crypto Loses Value In The Market - 2

DEI Price Chart

Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM

Sources: finance.yahoo.com, thestreet.com

S&P 500 Index Potentially Return To Its Bearish Area

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.