4E: U.S. stocks and crypto markets continue to be active, and this week’s CPI data is the key to the Federal Reserve’s December interest rate cut.
Editor
2024-12-09 11:32 6,847
According to news on December 9, data released last Friday showed that non-farm employment was better than expected and the unemployment rate rose slightly, strengthening expectations for an interest rate cut in December. The market expects the possibility of an interest rate cut in December to rise to about 85%.
According to 4E Monitoring, the surge in technology stocks last week pushed the major U.S. stock indexes to new highs. The Nasdaq soared by more than 3%, and the S&P 500 rose by nearly 1%. Both the Nasdaq and S&P hit record highs, and the Dow was the only index to fall. , down about 0.5%.
The crypto market is booming. Bitcoin spot ETF funds have seen net inflows for one consecutive week, with a total net inflow of nearly US$2.8 billion. The market value of stablecoins has increased by US$3.9653 billion, an increase of 2.56%. The strong inflow of funds caused Bitcoin to break through the integer mark of US$100,000 and ETH US$4,000. Altcoins rose in an overall rotation, and many mainstream coins doubled. Currently, Bitcoin is consolidating around $100,000, providing opportunities for altcoins.
In terms of foreign exchange commodities, the U.S. dollar continued to strengthen last week. After the non-agricultural data was released, the U.S. dollar plunged significantly but eventually turned higher, rising 0.22% for the week. The rise in the U.S. dollar limited the upside space for gold prices, but expectations of interest rate cuts formed support for prices, making Gold prices fluctuated within a narrow range, and the overall market sentiment was cautious; oil prices fell for three consecutive days last week due to concerns about oversupply, with U.S. oil falling 1.17% and Brent oil falling 1%.
Recent data suggests that the United States' anti-inflation progress may have stalled, and the CPI data to be released on Wednesday will be the deciding factor in the Federal Reserve's interest rate decision this month. The market expects the probability of the Federal Reserve to cut interest rates by 25 basis points on December 18 is about 85%. However, expectations that the number of interest rate cuts will be reduced next year continue to strengthen.
In addition, near the end of the year, large investment institutions are facing the rebalancing of investment portfolios to adapt to the balance of statements and tax issues at the end of the year. This will have a short-term liquidity impact on the US stock market and may be the biggest negative factor in the near future. It is expected to have a negative impact on risky assets. suppress. eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin financial product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market fluctuation risks and allocate assets reasonably.