The global stock market got off to a rough start in 2025, with the three major U.S. stock indices closing in the red, and U.S. bond yields and the U.S. dollar index continuing to rise. Tesla saw its first annual delivery decline in 2024, with its stock price plunging 6%, falling more than 20% from its pre-Christmas high. Bit, on the other hand, has been slowly climbing, returning above 96K, with traders maintaining a cautious stance ahead of Donald Trump's inauguration ceremony.
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ToggleThe three major U.S. stock indices closed in the red, and U.S. bond yields and the U.S. dollar index continued to rise
The number of initial jobless claims in the U.S. unexpectedly fell to the lowest level in eight months. Data released by the Labor Department on Thursday showed that the number of initial jobless claims was 211,000, down from the upwardly revised 220,000 in the previous week.
U.S. bond yields and the U.S. dollar index continued to rise, while the three major U.S. stock indices all closed in the red, with Tesla plunging more than 6%.
Tesla plunged 6%, falling more than 20% from its pre-Christmas high
Tesla yesterday announced that its total deliveries in the fourth quarter of 2024 were 495,570 vehicles, and its annual deliveries were 1.79 million vehicles, the first decline in more than a decade.
CEO Musk warned investors that growth will slow this year, but performance will improve later in the year. Tesla has invested in humanoid robots and chip development, and plans to produce dedicated robotaxis and launch a driverless ride-hailing service by 2027, but the majority of its profits still come from vehicle sales.
Tesla fell 6.08% to $379.28 per share. It has fallen more than 20% from its pre-Christmas high of $479.
Bit has been slowly climbing, with traders maintaining a cautious stance ahead of Donald Trump's inauguration
Bit has been slowly climbing at the start of the year, trading above 96K at the time of writing, with analysts attributing its stability to traders' cautious stance ahead of Donald Trump's inauguration on January 20.
According to Coinglass data, the average Bit perpetual futures funding rate across major exchanges in the last 8 hours was 0.01%. Alvin Kan, Chief Operating Officer of Bitget Wallet, said this is the highest level in over a week, but still within a neutral range. Kan believes that the stable Bit perpetual futures funding rate, which has remained in a neutral range without a significant increase, indicates that while there is some optimism, traders are maintaining a cautious stance ahead of key events like Trump's inauguration, looking for opportunities to build long positions.
ETH has risen 3% in the last 24 hours, and although the Week in Ethereum newsletter has officially shut down at the start of the year, Ethereum community member @sassal0x (Sassal.eth) shared a series of bold predictions for 2025 on Twitter, believing that Ethereum will celebrate its 10th anniversary and could be its most "bullish" year.
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