Tech stocks led the US market to rise on Friday, shaking off the sluggish start to 2025. The three major US stock indices closed higher, but still showed a slight decline on a weekly basis. The top ten cryptocurrencies by market cap all rose yesterday. XRP increased nearly 15% over the week, jumping to become the third largest cryptocurrency by market cap. SUI continued to set historical highs, with an annual increase of up to 479%, rising to 10th place in the crypto market (excluding stablecoins).
The ISM manufacturing index rose 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, marking growth for the second consecutive month and a nine-month high. The ISM index has a neutral line at 50; the ISM manufacturing index has been below 50 since November 2022, only briefly breaking above it in March 2024. However, the US economy is service-oriented, and it remains to be seen whether manufacturing will return due to Trump's MAGA policies.
Tech giants strike back
On Friday, US stocks rallied led by tech giants, with Tesla surging over 8%, Nvidia rising 4.45%, and server manufacturer AMD skyrocketing 10.92%.
The three major US stock indices closed higher, but still showed a slight decline on a weekly basis.
Important data for next week
Important data for next week includes:
Monday: Purchasing Managers' Index
Tuesday: JOLTS Job Openings Report
Wednesday: Federal Reserve Meeting Minutes
Thursday: The market will be closed due to the funeral of former President Jimmy Carter
Friday: Non-Farm Payroll Report
Trends of the top ten cryptocurrencies by market cap
The top ten cryptocurrencies by market cap all rose yesterday. XRP increased nearly 15% over the week, jumping to become the third largest cryptocurrency by market cap.
SUI also briefly approached 5 USD, continuing to set historical highs, reported at 4.86 USD before publication, with a 12% increase in 24 hours and an annual increase of up to 479%. SUI's market cap rose to 10th place in the crypto market (excluding stablecoins).
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This article shakes off the gloom of the 2025 start, with cryptocurrencies rising together, and SUI setting a historical high, first appearing in Chain News ABMedia.
