Stock market today: Nasdaq, Dow, S&P 500 hit pause on rally as jobs data looms, bitcoin tops $100,000

Published On Dec 5, 2024, 5:59 AM

The US stock market showed signs of a pause in its rally as investors awaited upcoming jobs data, with futures for major indices, including the Dow and S&P 500, remaining largely unchanged. This comes in the wake of the Fed's Jerome Powell indicating a cautious approach, with a probable interest rate cut expected on December 18. Meanwhile, Bitcoin soared to a new all-time high of over $100,000, attributed partly to anticipation of a crypto-friendly administration under President-elect Trump.

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Negative

The upcoming jobs report could influence market sentiment significantly. A strong report may dampen expectations of a rate cut, impacting stock futures negatively. Conversely, weaker job data may bolster the rally as it could lead to more aggressive monetary easing.

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