According to ChainCatcher news, the data released last Friday showed that non-farm employment was better than expected, with the unemployment rate rising slightly, strengthening the expectation of a rate cut in December. The market expects the possibility of a rate cut in December to rise to around 85%.
According to 4E monitoring, the surge in tech stocks last week pushed the major US stock indices to new highs, with the Nasdaq soaring more than 3%, the S&P 500 index rising nearly 1%, and the Nasdaq and S&P both hitting new all-time highs, while the Dow Jones was the only index that fell, down about 0.5%.
The cryptocurrency market is thriving, with the Bitcoin spot ETF seeing net inflows for a consecutive week, totaling nearly $2.8 billion, and the stablecoin market cap increasing by $39.653 billion, up 2.56%. The strong inflow of funds has led to the breaching of the $10,000 and $4,000 price levels for Bitcoin and ETH respectively, and Altcoins have seen a broad-based rally, with several major coins doubling in value. Currently, Bitcoin is consolidating around the $10,000 level, providing opportunities for Altcoins.
In the foreign exchange and commodity markets, the US dollar continued to strengthen last week, jumping significantly after the non-farm payroll data release but ultimately turning higher, gaining 0.22% for the week. The strengthening of the US dollar has limited the upside potential of gold prices, but the expectation of a rate cut has provided support, leading to gold prices fluctuating in a narrow range, with the overall market sentiment being cautious. Oil prices fell for three consecutive days last week due to concerns over oversupply, with US oil down 1.17% and Brent oil down 1% for the week.
Recent data suggests that the US's progress in fighting inflation may have stalled, and the CPI data to be released this Wednesday will be a key factor in the Federal Reserve's interest rate decision this month. The market expects the probability of a 25-basis-point rate cut by the Federal Reserve on December 18 to be around 85%. However, the expectation of fewer rate cuts next year is continuing to strengthen.
Additionally, as the year-end approaches, large investment institutions are facing the need to rebalance their investment portfolios to accommodate year-end balance sheet adjustments and tax issues, which may create short-term liquidity shocks in the US stock market, potentially being the most significant adverse factor recently. eeee.com is a financial trading platform that supports cryptocurrencies, stock indices, gold, and foreign exchange, and has recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with a potential hedging option. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.
