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Rate cut anticipation buoys cryptos and tech stocks

Rate cut anticipation boosts market: The Federal Reserve’s potential rate cut in December is fueling Optimism in technology stocks and cryptocurrencies. Notably, Bitcoin ETFs saw inflows nearing 2.8 billion USD, propelling Bitcoin’s price beyond 100,000 USD. This indicates a strong market sentiment driven by monetary policy expectations.

Nasdaq surges, Dow declines: While the Nasdaq soared over 3% and the S&P 500 gained nearly 1% to record levels, the Dow Jones index faced a decrease of approximately 0.5%. These variations highlight investor reactions to economic indicators and rate cut forecasts, showcasing differing trends within MAJOR U.S. stock indices.

U.S. dollar impacts commodities: The U.S. dollar’s appreciation by 0.22% pressured gold prices, which remained confined. Oil prices continued their decline amid supply concerns, with U.S. crude and Brent crude falling 1.17% and 1%, respectively. These shifts reflect the broader economic landscape’s response to currency and commodity market dynamics.

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