Stock Market Update: Bitcoin Soars to $100,000 Peak, Indices Steady
Stock Market Update today: Bitcoin Major news is buzzing in the financial markets such as Stock Market Update today: Bitcoin going into six-figure territory for the first time and U.S. stock indexes nearing record highs. Speculations about the President-elect Donald Trump’s SEC appointee, Paul Atkins, having a relatively soft approach on regulations about cryptocurrency have boosted the rally in cryptocurrency. Mixed movements have been experienced in the stock markets driven by strong earnings from techs and ongoing changes in corporate announcements.
We break down the highlights from the markets and what to watch in the coming days.
Bitcoin Crosses $100,000 for the First Time
Stock Market Update today: Bitcoin has crossed the first $100,000 ever seen, reaching that mark late Wednesday. This is the largest one-day gain in cryptocurrency prices after news broke that President-elect Donald Trump has chosen Paul Atkins to head the Securities and Exchange Commission (SEC).
The past has experienced Atkins-a conservative lawyer, critic of the overzealousness by the SEC against the firms in cryptocurrency-rose to fame and investors speculating him more likely to create a friendlier environment for regulation on the digital assets to boost confidence in the market.
With this level of increase in Stock Market Update today: Bitcoin, it is more pressing as a store of value and as a side investment vehicle. Analysts say that why trading has been at $100,000 and other gains have been noted in the future is that institutional investors continue to pour money into the crypto-market.
U.S. Stock Indexes Remain Near Record Highs
Trading early Thursday was nearly flat for the three major U.S. stock indexes—the Dow Jones, S&P 500, and Nasdaq—after the powerful session the previous day.
Headlines and Highlights:
- The Dow Jones Industrial Average closed above 45,000 for the first time Wednesday on strong technology earnings and optimism about the economy.
- Tech stocks Stock Market Update today: Bitcoin are the largest drivers of the gains, with Apple, Microsoft, and Tesla reporting strong earnings.
- Investors are playing it safe, waiting for more economic data, including the jobs report that is expected on Friday.
Corporate News: American Airlines Stock Surges
Corporate news also made waves in the market:
- American Airlines’ shares rose a day after the carrier said it had chosen Citi as its credit card exclusive. The deal is seen as deepening the airline’s financial ties and strengthening the reward program.
- Save for corporate news, Stock Market Update today: Bitcoin little seemed to be on much different note than the rest of positive news in the markets
Treasury Yields Edge Higher
Benchmark U.S. Treasury yields rose a little Thursday and stood at 4.18% as of late Wednesday. Stock Market Update today: Bitcoin Higher yields generally are perceived as positive about the economy in that investors anticipate greater growth and inflation.
European Markets: Quiet Amid Stormy Politics
On the other side of the Atlantic, European markets remained quiet amid some momentous political changes in France:
- French assets were nonresponsive after the collapse of the French government. The decision was largely expected by investors, and this was what kept the market volatility at bay. – The CAC 40 index inched up as the French markets took the news of the collapse of government calmly. – The spread between French and German bond yields, which is an important risk indicator, narrowed, showing that market concerns over political instability were muted. —
The price of crude oil remained modestly positive on OPEC and its allies continued to push the further postponement of the increase in its production plan they had planned this for next month. The cartel apparently is playing safe on supplies as demand is continuing to change at different global levels.
US Labor market has come center stage for towns with the Friday jobs report most probably important one to come during the week.
- Jobs Projections: Analysts expect that the U.S. economy added 214,000 jobs in November as a sign that the recovery in the labor market is on the right path towards a pick-up.
A better-than-projected report would indicate investors’ more confidence, while weak results would fuel fears of how fast the economy is growing.
The financial markets are in a dynamic period. Stock Market Update today: Bitcoin has moved over $100,000 and the stock indexes hold near record highs, while positive corporate developments and cautious optimism in the bond and oil markets have kept investors engaged. As the week unwinds, everybody awaits the jobs report, which will give valuable insights into the well-being of the U.S. economy.
Stay tuned Stock Market Update today: Bitcoin for more news as markets change in response to these developments.
FAQs
1. Why did Bitcoin hit $100,000?
Stock Market Update today: Bitcoin surge past $100,000 has much to do with speculation surrounding changes in regulation under Paul Atkins, President-elect Trump’s SEC appointee, who is perceived as crypto-friendly.
2. How have the stock indexes fared recently?
Major indexes were little changed Thursday after records set Wednesday, when the Dow closed for the first time over 45,000.
3. What’s driving the rise in Treasury yields?
Treasury yields are rising on the assumption that the U.S. economy will turn inflationary from here.
4. How does OPEC influence oil price?
OPEC and its allies have rebuffed planned output hikes, giving room for some slight increases in crude oil prices.
5. Why does Friday’s jobs report matter?
The report will be highly illuminative of the U.S. labour market and could nudge market sentiment and the near-term course of economic policies in place.