Market Highlights
1. U.S. Stock Market Situation
On Thursday, the U.S. stock market fell into anxiety before the non-farm payroll data was released, with the market cooling off at high levels. The three major indices closed lower collectively, with the Dow Jones falling 0.55%, the Nasdaq down 0.18%, and the S&P 500 index down 0.19%. However, most large tech stocks rose, with Tesla increasing over 3%, reaching a two-year high in its stock price.
2. Cryptocurrency Market Situation
The cryptocurrency market hit a historical high after Trump nominated a crypto supporter as the chair of the U.S. SEC, with Bitcoin's price breaking the $100,000 mark, peaking around $105,000. It later surged and retreated, briefly touching $90,500 this morning before quickly rising again, with a price quote of $98,240 at the time of writing. The flash crash of Bitcoin did not affect altcoins, which remained strong, reflecting market confidence in them.
3. Forex and Commodities Situation
Last week, the number of initial jobless claims in the U.S. exceeded expectations. On the 'eve of non-farm payrolls,' the dollar index fell about 0.6%, fluctuating downwards throughout the day, while most non-dollar currencies rose.
4. Economic Data and Interest Rate Cut Expectations
Economic data released on Thursday showed that the U.S. labor market is steadily cooling down, with the market focusing on Friday's non-farm employment data to understand the Federal Reserve's stance on interest rate cuts. Currently, the Federal Reserve's observation tool indicates that the market expects a 70.1% probability of an interest rate cut this month.
