Dow plunges nearly 700 points in response to good economic news. We can explain.
A strong jobs report is good news for the economy. For stocks, not so much.
Jobs report fuels Treasury yield surge as markets brace for 5% threshold
A recent surge in U.S. Treasury yields may gain even more momentum after a strong jobs report reinforced expectations that interest rates will stay high for longer and raised the spectre of benchmark 10-year yields hitting 5% — a level that some fear could rattle broader markets. Friday’s jobs report revealed that employers added 256,000 jobs in December, well above economists’ forecasts, while the unemployment rate dropped, bolstering market expectations that the Federal Reserve will maintain elevated interest rates to curb economic overheating. That news dashed investors' hopes for some respite from a sharp rise in Treasury yields that has wobbled stocks since the beginning of the year.
Crypto giant Ripple plans to ‘imminently’ debut its stablecoin on major exchanges: Can it gain market share?
A Ripple executive says RLUSD has seen ‘incredible momentum’ since its launch.
Nvidia, chip stocks drag tech lower as new Biden export rules, jobs report weigh
The Biden administration's proposal would put more pressure on companies like Nvidia to crack down on where resellers ultimately send their chips.
US Treasury Yields Test 5% as Traders Push Out Fed Rate Cuts
(Bloomberg) -- A selloff in the $28 trillion Treasury market deepened after a blowout US employment report reinforced bets among traders and Wall Street economists that the Federal Reserve will hold off on further interest-rate cuts.Most Read from BloombergA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC Condo Owners May Bear Costs of Landmark Green Building LawNew York, San Francisco Ranked Worst for US Traffic
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Why Crypto's Meme Coins Are Crashing
The crypto meme was strong at the end of 2024 with investors bidding up major tokens like Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe (CRYPTO: PEPE) along with even wilder tokens like dogwifhat, Fartcoin, and Bonk. According to data provided by S&P Global Market Intelligence, at noon ET on Friday, Dogecoin is down 10.4% in the past week, Shiba Inu has dropped 11.7%, and Pepe is down 19.9% in just the last week.
Oil Traders Betting on More Volatility Win Big on US Sanctions
(Bloomberg) -- Oil traders who bought options in a bet that crude oil would snap out of its doldrums are set to reap the rewards as prices surge on fresh sanctions against Russia.Most Read from BloombergA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC Condo Owners May Bear Costs of Landmark Green Building LawNew York, San Francisco Ranked Worst for US Traffic in City CentersA gauge of implied volatility jumped by
US consumer inflation expectations soar in January on tariff fears
U.S. consumers expect inflation to increase over the next 12 months and beyond, likely reflecting concerns that broad tariffs on imports pledged by President-elect Donald Trump's incoming administration could raise prices for households. The University of Michigan's survey showed consumers' one-year inflation expectations jumped to 3.3% in January, the highest level since May, from 2.8% in December. "For both the short and long run, inflation expectations rose across multiple demographic groups, with particularly strong increases among lower-income consumers and Independents," said Surveys of Consumers Director Joanne Hsu.
MPs pressure London Stock Exchange over Chinese fast fashion giant’s £50bn listing
The London Stock Exchange (LSE) is under pressure to closely vet Chinese fast fashion giant Shein ahead of its planned £50bn listing, amid fears about forced labour in its supply chain.