Why Wall Street giants build tokenization money for institutions, not regular consumers

Wall Street received a boost today as oil prices fell and yields became slightly lower. The Brent oil price from the North Sea fell to around $103 per barrel. Meanwhile, ten-year US government bonds were noted to be just under five percent. The Bank of Japan's decision to raise the benchmark interest rate by 25 basis points to 1.25 percent caught everyone's attention.

This marked the most stringent monetary policy stance Japan has seen in decades. Despite the interest rate hike, the Japanese yen surprisingly weakened. In the technology sector, sentiment remained constructive. Evercore, an American investment bank, raised its price target for Apple to $380. Analysts expect more customers to replace their older iPhones with newer models.

Higher list prices and stronger demand for premium Pro models could significantly increase the average sales price. Salesforce also saw several price target upgrades following its developer and customer conference, Dreamforce. Analysts are optimistic that Salesforce's AI offerings could generate additional revenues. Meanwhile, Generac, a power technology manufacturer, benefited from a large order from Amazon.

The order could be worth up to $8 billion. However, a counterpoint to the generally favorable market environment came from fund flows. Last week, global equity funds saw a record $23.2 billion in outflows, the largest in nine months.