TechFlow news, on October 14, last week the U.S. September CPI and PPI data were successively released, sending mixed signals to the market. However, overall figures indicate that inflationary pressures persist, making a 25-basis-point rate cut by the Federal Reserve next month almost certain.
According to 4E monitoring, last Friday's unexpectedly flat PPI data drove all three major U.S. stock indices higher, with both the Dow Jones and S&P 500 reaching intraday record highs. For the week, the Dow rose 1.21%, the S&P 500 gained 1.11%, and the Nasdaq climbed 1.13%, marking their fifth consecutive weekly gain. The cryptocurrency market followed equities upward, with Bitcoin reclaiming $62,000. At press time, Bitcoin was trading at 62,659, narrowing its weekly decline to 1.82%; Ethereum stood at 2,455, reducing its weekly drop to 1.47%. In foreign exchange and commodities, the U.S. dollar index continued to rebound, rising 0.4% for the week and driving most non-U.S. currencies lower. Escalating Middle East tensions fueled international oil prices for a second consecutive week, with WTI crude up 1.6% and Brent crude gaining 1.3%. Fluctuations in the U.S. dollar also pushed spot gold closer to its all-time high, turning slightly positive for the week; COMEX gold futures settled at $2,674.2 per ounce, up 0.04% week-on-week.
This week, U.S. economic data is relatively quiet, so corporate earnings may become a bigger focus. As the new earnings season begins, U.S. stocks could face challenges. Recently, the biggest concern for the crypto market has been news about the possibility of the U.S. government selling 69,000 Bitcoins (worth approximately $4.2 billion). Additionally, with only weeks remaining until the U.S. election and the race remaining tight, political uncertainty continues to weigh on markets. eeee.com is a financial trading platform supporting assets such as cryptocurrencies, stock indices, commodities, and foreign exchange. It recently launched a USDT stablecoin wealth management product offering a 5.5% annualized yield, providing investors with a potential hedging option. 4E reminds you to stay cautious of market volatility risks and allocate your assets prudently.
