Tech stocks led the US stocks to rise on Friday, breaking away from the sluggish start in 2025. The three major US stock indices closed higher, but on a weekly basis they still fell slightly. The top 10 cryptocurrencies by market cap all rose yesterday. XRP rose nearly 15% in a week, surging to become the third largest cryptocurrency by market cap. Sui continued to hit a new all-time high, with a year-on-year increase of 479%, and its market cap rose to the 10th position in the crypto market (excluding stablecoins).
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ToggleISM Manufacturing Index Rises to a Nine-Month High
Data released by the Institute for Supply Management (ISM) on Friday showed that the US manufacturing index rose to 49.3 in December, better than the expected 48.2, growing for the second consecutive month and reaching a new high in 9 months. The ISM index uses 50 as the demarcation line between expansion and contraction. The ISM manufacturing index has been below 50 since November 2022, only briefly breaking through in March 2024, but the US economy is driven by the service sector, and whether manufacturing will return due to Trump's MAGA policy remains to be observed.
Tech Giants Counterattack
On Friday, the US stocks were led by the tech giants to attack. Tesla rebounded and surged more than 8%, Nvidia rose 4.45%, and server manufacturer AMD soared 10.92%.
The three major US stock indices closed higher, but on a weekly basis they still fell slightly.
Important Data Next Week
Important data next week includes:
- Monday: Purchasing Managers' Index
- Tuesday: JOLTS Job Openings Report
- Wednesday: FOMC Meeting Minutes
- Thursday: Market closed for former President Jimmy Carter's funeral
- Friday: Non-Farm Payroll Report
Trends of Top 10 Cryptocurrencies by Market Cap
The top 10 cryptocurrencies by market cap all rose yesterday. XRP rose nearly 15% in a week, surging to become the third largest cryptocurrency by market cap.
Sui also approached $5 at one point, continuing to hit a new all-time high, closing at $4.86 before the deadline, up 12% in 24 hours, with a year-on-year increase of 479%. Sui's market cap has risen to the 10th position in the crypto market (excluding stablecoins).
The popular L1 public chain Sui recently supported BTC staking, and collaborated with the decentralized protocol Babylon, BTC LST developer Lombord, and blockchain security company Cubist, to drive the next stage of BTCFi development.
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate violently, and you may lose your entire principal. Please carefully evaluate the risks.
