There is a historic surge, Bitcoin is skyrocketing, DOGE is skyrocketing, Meme continues to rise, opportunities are blooming everywhere, hurry up and get on board...
European market stage on November 14, 2024
The U.S. CPI data for October released last night was fully in line with market expectations and did not cause too big a stir in the market. However, data performance has increased market confidence that the Federal Reserve will cut interest rates again next month. The probability of a 25 basis point rate cut in December has increased to about 80% from about 58% earlier on Wednesday.
The gains in U.S. stocks faltered on Wednesday. The three major indexes collectively turned down at the beginning of the session, and then turned higher again. The gains narrowed significantly in late trading and the Nasdaq closed lower. The S&P 500 edged up 0.02%, the Dow closed up 0.11%, and the Nasdaq closed lower. fell 0.26%. The "Seven Sisters of Technology" had mixed gains and losses, and most cryptocurrency concept stocks fell back. Crypto markets are regaining momentum after a brief correction.
Bitcoin broke through the important mark of US$90,000 last night, reaching a maximum of US$93,265. It set a new all-time high and then fell back to US$89,586 as of press time. At present, the market value of Bitcoin has surpassed Saudi Aramco and become the seventh largest asset in the world. Meme coins continue to rise, leading all major sectors and becoming the focus of investors.
In terms of foreign exchange commodities, after the CPI was released, the U.S. dollar index first fell and then rose, rising to the highest level in 13 months since October last year, putting pressure on other currencies, and the offshore RMB fell below 7.25 yuan.
Oil prices rebounded on Wednesday and closed up more than 0.45%, hovering at two-week lows. The dollar and U.S. bond yields climbed, putting pressure on gold prices to fall for the fourth consecutive trading day, hitting a nearly two-month low. The CPI data, which was in line with expectations, increased the probability that the Federal Reserve would cut interest rates again in December, and to a certain extent helped calm market concerns about the outlook for inflation after Trump's election victory.
Currently, the market is focused on Thursday's PPI and weekly initial jobless claims, Friday's retail sales data, and comments from Federal Reserve Chairman Powell and other Fed officials.
