On November 28, news reported that the inflation indicator favored by the Federal Reserve met expectations, but the October data rebounded compared to September. This data supports the Federal Reserve's cautious stance on interest rate cuts, but market expectations for a rate cut in December have not been dampened. According to 4E monitoring, the three major U.S. stock indices collectively closed lower on Wednesday, ending a recent streak of gains. The Dow Jones fell by 0.31%, the S&P 500 index fell by 0.38%, ending a seven-day winning streak; most large tech stocks declined, and U.S. markets will be closed for one day on Thursday, with an early close on Friday three hours earlier. Traders seem to be taking profits from large tech stocks that performed well this year, causing the Nasdaq to drop by 0.60%, leading the three major indices. Earlier this week, Bitcoin experienced a pullback as some investors took profits when prices approached historical milestones. On Wednesday, the crypto market collectively saw a strong rebound, with Bitcoin rising nearly 4.4% in the past 24 hours and Ethereum rising over 10%, boosting crypto concept stocks with MicroStrategy rising 9.94% and Coinbase rising 6.03%. In the foreign exchange market, trading was light on the eve of Thanksgiving, with the dollar showing weakness, dropping about 0.9% to reach a two-week low, while non-U.S. currencies rose broadly; news that the OPEC+ meeting on Sunday may delay production increase plans supported oil prices, with U.S. oil closing slightly lower on Wednesday and Brent oil roughly flat; gold prices rose on Wednesday, but after data showed inflation progress stalled, the gains in gold prices narrowed. eeee.com is a financial trading platform that supports cryptocurrencies, stock indices, bulk gold, foreign exchange, and other assets, recently launching a USDT stablecoin investment product with an annualized yield of 5.5%, providing investors with potential hedging options. 4E reminds you to be aware of market volatility risks and allocate assets reasonably.
