xStocks are not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken's xStocks Risk Disclosure and the Base Prospectus and related Final Terms for more information.

Integrate xStocks
Back

Black Monday Fails to Arrive

Stocks defy weekend crash warnings, but oil above $100 and yields above 5% keep pressure on. Explore what xStocks trading revealed and whether Tesla, Meta and Netflix earnings can turn a rebound led by chips into a broader rally.

The Black Monday warnings that circulated on social media over the weekend did not arrive. The S&P 500 and Nasdaq closed higher on Monday, led by a rebound in chip stocks after the semiconductor index's longest losing run since 2008, although most S&P 500 members still closed lower.

The pressures behind the warnings have not gone away. Crude oil is above $100 after attacks on shipping around the Strait of Hormuz, the 10-year Treasury yield is above 5% and September inflation ran hot. xStocks traded through the weekend close to Friday's levels and moved with futures when they reopened, so the weekend showed no sign of a crash being priced. Tesla, Meta and Netflix report this week, a test of whether earnings can broaden a one-day rebound led by chips.

Download the Full Report

xStocks are issued by Backed Assets (JE) Limited (a Jersey private limited company) and offered to eligible Kraken customers via Payward Digital Solutions Ltd. (“PDSL”), a company licensed to conduct digital asset business by the Bermuda Monetary Authority. xStocks are not, nor will they be registered with any local securities regulators. Not available in the U.S. or to U.S. persons. Geo restrictions apply. Read Kraken’s xStocks Risk Disclosure at kraken.com/legal/xstocks as well as the Base Prospectus and related Final Terms for xStocks at assets.backed.fi/legal-documentation to learn more. This material summarizes publicly available third-party information. Kraken does not control, endorse, or guarantee the accuracy or completeness of that information or any linked sites. Weekly Market Briefing is not investment advice; trading digital assets involves significant risk. Content may be restricted or unavailable in some jurisdictions. Kraken and its affiliates may hold positions in digital assets referenced. Not available in the US or to US persons. xStocks are not offered by or associated with Kraken Securities, are not registered with the SEC, and are not insured or guaranteed by FDIC or SIPC.