CPI in line with expectations boosts confidence in interest rate cuts! Nasdaq tops $20,000 for first time, Bitcoin returns to $100,000
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The US announced the results of the November CPI (Consumer Price Index) last night, with a year-on-year increase of 2.7%, slightly higher than the previous value of 2.6%, in line with market expectations, providing a solid basis for the Fed's rate cut decision in December.
Goldman Sachs analyst Whitney Watson said: "Today's CPI data has cleared the way for a rate cut next week. After the release of today's data, the Fed will enter a quiet period, and they still have confidence in the progress of anti-inflation. We believe that the Fed will further gradually relax its monetary policy in the new year."
According to FedWatch data, the probability of a rate cut in December has reached 98.4%.
Affected by this news, the Nasdaq Composite Index soared more than 300 points, closing up 1.77% and reaching $20,000 for the first time.
At the same time, Bit also shook off the sluggish trend of the past two days, closing up 4.11% in a single day and returning to $100,000. In the past 24 hours, about $150 million in net short positions have been liquidated across the network.
All concept sectors have also risen across the board, with AI, DeFi, and GameFi seeing the biggest gains.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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