US stock market

4E: The expectation of a pause in interest rate cuts next year has weakened the US stock market. This week, attention is on the Federal Reserve's interest rate meeting

ChainCatcher news, according to 4E monitoring, the S&P 500 halted a three-week winning streak last week, falling 0.64% for the week; the Dow Jones dropped a cumulative 1.82% over the week, marking seven consecutive trading days of decline; the Nasdaq gained a cumulative 0.34% over the week, breaking the 20,000 point mark for the first time in history.Bitcoin rose back above $100,000 last week, setting a record for the longest seven-week winning streak since 2021. The altcoin market saw a decrease in enthusiasm, with a general pullback. Over the week, Bitcoin ETFs saw a net inflow of $2.115 billion, Ethereum ETFs had a net inflow of about $712.7 million, and the supply of stablecoins increased by $2.1 billion, indicating a sustained positive outlook for funds. As of the time of publication, Bitcoin surged suddenly, breaking its historical high to reach $106,648, with the top ten cryptocurrencies also seeing an increase of nearly 1% to 4%.In the forex commodities sector, the US dollar index performed strongly last week, breaking above 107 on Friday and continuously refreshing a two-week high, with a weekly increase of nearly 1%, marking the best weekly performance in a month, while non-USD currencies fell cumulatively over the week. International oil prices surged across the board last week due to geopolitical tensions, halting two weeks of declines, with US oil rising over 6% for the week and Brent oil increasing by 4.54%. Benefiting from market expectations of an upcoming interest rate cut by the Federal Reserve next week, spot gold rose a cumulative 0.56% over the week.The most anticipated economic event this week is the FOMC meeting to be held by the Federal Reserve on Wednesday, followed by the announcement of interest rate decisions and quarterly economic forecasts on Thursday. The market has already fully priced in expectations for a 25 basis point rate cut in December, with the real focus being on clues regarding the future direction of Federal Reserve policy. The market expects that rate cuts next year will be more cautious and gradual, with a possibility of pausing rate cuts in January.Additionally, this week marks the last "central bank super week" of 2024, with up to 25 central banks, including those from Japan, the UK, and Sweden, meeting in the same week. The decisions from some key central banks may trigger market volatility, especially in the fast-paced forex and commodities markets. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, commodities like gold, and forex, recently launching a USDT stablecoin wealth management product with an annualized return of 5.5%, providing investors with a potential hedging option. 4E reminds you to be aware of market volatility risks and to allocate assets wisely.

4E: The situation in the Middle East escalates, and cryptocurrencies in the US stock market collectively decline

ChainCatcher news, on Tuesday local time, Iran launched a missile attack on Israel, escalating tensions in the Middle East once again and triggering cautious sentiment in global markets, with U.S. stocks and the crypto market responding with declines.All three major U.S. stock indices closed lower, with the Dow down 0.41%, the S&P 500 down 0.93%, and the Nasdaq down 1.53%, making technology stocks the worst-performing sector; the crypto market saw a significant drop, with Bitcoin nearly falling below $60,000, currently quoted at $61,523, down 2.75% in 24 hours, and Ethereum down 5.11%, as market sentiment returned to panic. Data shows that Bitcoin fell about 4% in the first two days of October, in stark contrast to the historical average increase of 20% for the entire month of October; in commodities, the safe-haven asset gold was favored, with December gold futures on the NYSE rising 1.16%, and concerns over crude oil supply intensified, causing international crude oil prices to rise more than 4% at one point.The escalation of tensions in the Middle East has led to a rapid increase in market panic, resulting in a sell-off of risk assets and increased market volatility. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indices, commodity gold, and foreign exchange, recently launching a USDT stablecoin wealth management product with an annualized return of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and to allocate assets wisely.
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