Initial Jobless Claims
The U.S. Department of Labor releases related data weekly, with the report for this week to be published on November 21. For the week ending November 16, the number of initial jobless claims was 217,000, lower than the expected 223,000 and the previous week's unrevised 221,000.
Richard Bernstein Advisors, with an asset management scale of $15.6 billion, states that this leading indicator suggests a healthy labor market. The latest data shows that despite impacts from storms and strikes, demand for workers remains stable.
If the downward trend continues, it indicates alleviation of economic challenges and strengthening of the labor market, which could stimulate consumer spending and confidence, benefiting the financial markets. A decrease in unemployment claims means more people are employed, leading to increased disposable income and investment in assets like Bitcoin.
S&P Global U.S. Manufacturing Purchasing Managers' Index (PMI)
The November PMI will be released on Friday, a key economic indicator measuring the performance of U.S. manufacturing. The previous value was 48.5, with market expectations at 48.8. A higher PMI typically indicates manufacturing expansion, strong economic growth, and increased manufacturing activity, which can boost investor confidence in the overall economy. This positive sentiment may spill over into the cryptocurrency market, affecting investor sentiment and risk appetite, with favorable data benefiting risk assets like Bitcoin.
S&P Global Services PMI
The index will be released on Friday, measuring the performance of the U.S. service industry, providing insights into service sector economic activity and business confidence. The previous index was 54.1, and its changes could impact the Bitcoin and cryptocurrency market. An increase in the index indicates growth in the service sector, which is a significant driver of the economy, potentially translating into positive sentiment in the financial markets, benefiting cryptocurrencies like Bitcoin. The PMI insights account points out that after the presidential election, people are looking forward to the November PMI preliminary survey and the release of U.S. consumer confidence.
Nvidia Company Earnings
Nvidia will announce its third quarter earnings on November 20, with the report commonly emphasizing demand for GPUs in gaming, AI, and cryptocurrency mining. Analysts expect revenue to surge by 84% to $33.28 billion, with net income per share rising from $0.37 to $0.70.
Strong sales of AI GPUs can enhance investor confidence in AI-driven industries (including AI cryptocurrencies). Historically, Nvidia's performance has influenced the prices of AI-related tokens. If the earnings indicate continued growth in AI and cryptocurrency applications, a bullish momentum may emerge.
Before Nvidia releases its financial report, sentiment around AI stocks may affect AI cryptocurrencies such as RENDER, WLD, NEAR, and TAO, as well as the DePin project ATH, referred to as the 'Nvidia of the cryptocurrency world.' This financial report is set to be released shortly after the U.S. Supreme Court's ruling related to Nvidia's lawsuits, which may intensify volatility in Nvidia's stock and the associated cryptocurrency sector.
#DeSci热度上涨 #英伟达财报即将公布
