Stock market today: Dow leads losses as stock rally hits pause, bitcoin pulls back from record above $100,000
Published On Dec 5, 2024, 4:05 PM
US stock markets experienced a slight decline on Thursday as investors awaited the upcoming jobs report. After reaching historic highs earlier in the week, the Dow Jones fell 0.5%, and the S&P 500 and Nasdaq both dropped by 0.2%. Bitcoin saw volatility, initially surging past $103,000 before retreating to around $99,000. The Federal Reserve, led by Chair Jerome Powell, indicated a cautious approach that might lead to a December rate cut, although data on jobless claims showed an increase, causing concern. The markets are bracing for the November jobs report which could alter expectations regarding interest rates. Meanwhile, Tesla shares surged over 3% following positive analyst commentary from Bank of America.