September Money News Headlines

Crypto/AltCoins

Altcoins have recently outperformed Bitcoin, particularly since the market meltdown on September 7th. The market domination of the world's largest cryptocurrency, for example, has also declined, falling to little over 41.4 percent at press time. On the contrary, several of the market's competing altcoins have seen their stock prices rise. Is there any significance to these findings?

According to BlockchainCentre, this month may be an “Altcoin month.” Many people in the crypto-community believe this. Not only by supporters, but also by ex-White House workers. A former White House Press Secretary, in particular, is betting big on several cryptocurrencies.

Cardano is, naturally, another cryptocurrency that the executive is excited about. With ADA just reaching new ATHs and the network anticipating the Alonzo mainnet update on the 12th, these expectations are justified.

It is worth noting, however, that the executive sounded particularly bullish on the 17th-ranked cryptocurrency – Algorand (ALGO).

It was trading well above $2 at the time of publication, following a weekly gain of more than 70%.

Markets/Stocks

Stocks fell for the fifth day in a row on Friday, as investors became more concerned about the impact of the COVID-19 epidemic on the economy.

For the first time in months, President Joe Biden talked with Chinese President Xi Jinping, providing some relief to investors early in the session. While little progress was achieved, the call showed how the world's two largest economies — which have a slew of policy disagreements to iron out — are nevertheless keeping the lines of communication open.

However, after Bloomberg reported that the Biden administration may look into Chinese subsidies and their influence on the US economy, markets reversed their early gains.

Meanwhile, statistics released on Friday revealed that producer prices rose last month, as supply and labor shortages increased inflationary pressure on the economy – demonstrating how demand remains white hot and robust, even in the face of COVID-19. The producer price index increased by 0.7 percent last month and by 8.3 percent through August, the most year-on-year increase since November 2010, following a 7.8 percent increase in July.

Epic Game's (AAPL) antitrust lawsuit against Apple (AAPL) on Friday upended the mobile device maker's closely guarded environment around its thriving App Store.

The shares of the tech behemoth fell over 3% intraday after a federal California court ruled in favor of Epic, imposing a permanent injunction against Apple's App Store regulations. The change allows developers to provide third-party payment choices to users in applications, and it has put some equities that flourish on Apple's platform, such as Roblox (RBLX), Zynga (ZNGA), and Spotify (SPOT), on a tear.