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Bitcoin rallies thwarted by fading Fed rate cut odds, softening US macro

Bitcoin continued to sell near $90,000 as investors reacted to weak US jobs data and slowing economic growth by shifting into safer ***** ets.
Key takeaways:
Strong demand for US Treasurys and lower odds of a Fed rate cut indicate that investors are shifting toward safer ***** ets, reducing interest in Bitcoin.
Economic weakness in ***** an and softer US job data add pressure to Bitcoin, limiting its use as a hedge in the near term.
Bitcoin
BTC
$88,227
has repeatedly failed to hold above the $92,000 level over t

President Donald Trump announced Wednesday a reset of Joe Biden's fuel-economy standards, arguing it will lower US car prices -- but critics warned it would worsen climate change and leave drivers paying more at the pump.
Trump was flanked in the Oval Office by the CEOs of Ford and Stellantis and a senior General Motors official, a show of buy-in from Detroit's "Big Three."
"My administration is taking historic action to lower costs for American consumers, protect American auto jobs and make buying a car much more affordable," the US president said.
"Today is a victory (for) common sense an

HP Inc. (HPQ) is doubling down on artificial intelligence — and betting it will replace thousands of jobs in the process.
"There are many things that today we have to do using people ... that in the future AI will do better and will do faster," CEO Enrique Lores told Yahoo Finance (video above).
It's not just an HP issue, he added, but an "industrywide" shift companies must embrace to stay competitive.
That transformation is reshaping HP. The company on Tuesday unveiled a sweeping AI initiative tied to new restructuring efforts. HP expects to eliminate 4,000 to 6,000 jobs globally and gener

Cities made a bet on millennials — but forgot 1 key thing

Millennials moved to cities in droves during the 2000s and 2010s, drawn by the restaurants, the nightlife, and the high-paying jobs. Urban planners and local leaders celebrated, embracing what became known as the “creative class” theory — the idea that attracting educated, creative workers would drive cities’ economic growth.
Real estate developers built accordingly, constructing apartment buildings filled with studios, one-bedrooms, and two-bedrooms designed for singles, roommates, and childless couples. Young professionals could a

This past week's release of the long-delayed September jobs report complicates the Federal Reserve's path forward when the central bank makes its next decision on interest rates in December, Wall Street economists said.
"Hold or cut, there will likely be multiple dissents," Michael Feroli, chief US economist at JPMorgan, wrote in a research note on Thursday. "We see it as a very close call, closer even than September of last year. Whereas previously we looked for a cut next month, we are now inclined to see the Committee skip next month, but with cuts still coming in January and May before go

This is The Takeaway from today's Morning Brief, which you can sign up to receive in your inbox every morning, along with:
What we're watching
What we're reading
Economic data releases and earnings
The historic government shutdown is over. We finally got a (late) jobs report. But it's going to take a long time for economic data to get back to normal.

https://finance.yahoo.com/...

As November wraps up, a holiday-shortened week of trading, courtesy of Thanksgiving Day and Black Friday, will greet investors who continue to wrestle with the fallout from Nvidia's (NVDA) blockbuster earnings report alongside flagging confidence in the overall AI-driven market.
On Friday, markets capped a roller-coaster week with daily gains but weekly losses, as the tech-heavy Nasdaq Composite (^IXIC) fell over 2% while the S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) fell about 1.5% for the week.
A strong September jobs report, strong earnings from Nvidia, and a positive th

The September labor market report was late, thanks to the government shutdown. And when it finally arrived on Thursday, it was also confusing. The Bureau of Labor Statistics reported that the U.S. economy added 119,000 jobs in September, well above expectations. But the unemployment rate ticked up to 4.4%, its highest since October 2021.
Of course, these monthly reports are noisy, and it’s not unusual for their indicators to point in different directions. That’s why you want to look at the trends, and one important sector, both economically and politically, has consistently trended down over

What on Earth just happened to the stock market?

Redemption Day quickly turned into Reckoning Day on Wall Street.
Going into Thursday, the sagging stock market had two big questions it wanted answered: Is the artificial intelligence bubble about to burst, and will the Federal Reserve cut interest rates in December?
At first, it seemed like traders finally got the clear response they had been eagerly awaiting:
Nvidia reported super-strong earnings Wednesday evening, initially easing fears that demand for AI had faded.
And Thursday morning’s jobs report showed the unemployment rate had ri

https://www.investing.com/...

A stronger-than-expected jobs report for the month of September has some increasing the odds that the Federal Reserve won’t cut interest rates next month.
But Kevin Hassett, director of the president’s National Economic Council, said that would be a “very bad time” for the central bank to pause cutting because the government shutdown dented economic growth in the fourth quarter.
Hassett said he expects the government shutdown will knock 1.5 percentage points off GDP in the fourth quarter. At the same time, he pointed to the Consumer Price Index for September that showed inflation came in bet

US stocks were hammered on Thursday as an abrupt midday reversal in markets followed a blockbuster earnings report from Nvidia (NVDA) and the release of the long-delayed September jobs report, which showed hiring grew more than expected in the final month of the third quarter.
When the closing bell rang on Thursday, the tech-heavy Nasdaq Composite (^IXIC) had taken the sharpest losses, falling more than 2.1% from Wednesday's close, and marking a more than 3.5% intraday reversal.
The S&P 500 (^GSPC) fell 1.5%, and the Dow Jones Industrial Average (^DJI) lost 380 points, or 0.8%.
Stocks opene

A US stock rally faced an abrupt turnabout on Thursday, as investors ****** sed blockbuster Nvidia (NVDA) earnings and rate-cut hopes after the release of the long-awaited September jobs report.
The tech-heavy Nasdaq Composite (^IXIC) flipped and fell 0.9% after climbing as much as roughly 2.5% earlier in the session. The S&P 500 (^GSPC) lost around 0.7% after gaining as much as 1.8% in early trading. The Dow Jones Industrial Average (^DJI), which includes fewer tech stocks, dropped 0.5%.
Nvidia stock surged as much as nearly 5% in early trading before also turning negative, after the chipma

Bitcoin extended its recent slide Thursday, diving below the $87,000 mark for the first time since April as traders weighed the prospects of a third rate cut this year following the delayed release of September jobs data.
The price of Bitcoin has fallen as low as $86,520 on the day, with a nearly 3% daily fall that's extended the leading cryptocurrency's weekly dive to 13.5% as of this writing.
Bitcoin has plunged by 31% since setting a new all-time high mark above $126,000 in early October.
Overall crypto market liquidations have surged over the past hour, currently sitting at $933 million

A stronger-than-expected — albeit stale — September jobs report is muddying the picture of whether a split Federal Reserve will cut or hold interest rates steady at its next policy meeting.
Experts and markets are divided.
“They will not cut rates,” Wilmer Stith, bond portfolio manager for Wilmington Trust, said Thursday.
While payroll growth was stronger, Stith noted that the unemployment rate on an unrounded basis was 4.44%, which could create concern for some members of the Fed who view a level of 4.5% as cautionary.
“Getting to that 4.5% unemployment would sort of raise their anxieties

US stocks climbed on Thursday as blockbuster Nvidia (NVDA) earnings helped rekindle faith in the AI trade, and rate-cut hopes brightened after the release of the long-awaited September jobs report.
The tech-heavy Nasdaq Composite (^IXIC) led the way higher, rising roughly 0.8% after climbing as much as roughly 2.5% earlier in the session. The S&P 500 (^GSPC) added nearly 0.7% after gaining as much as 1.8% in early trading. The Dow Jones Industrial Average (^DJI), which includes fewer tech stocks, rose about 0.6%.
The market action comes after stocks saw a modest rebound on Wednesday, breakin

The US economy added 119,000 positions in September, data from the Bureau of Labor Statistics showed Thursday, an unexpected boost to the labor market that has lately shown signs of a possible slowdown.
Wall Street economists expected a gain of around 50,000 positions, according to data from Bloomberg. While the September number beat economists’ expectations, revisions to prior months’ data showed August’s payrolls lost 4,000 jobs, compared to the previously reported gain of 22,000. July also showed a slightly smaller boost of 72,000 positions, instead of 79,000.
The unemployment rate, meanw

The US economy added 119,000 positions in September, data from the Bureau of Labor Statistics showed Thursday, an unexpected boost to the labor market that has lately shown signs of a possible slowdown.
Wall Street economists expected a gain of around 50,000 positions, according to data from Bloomberg. But, while the September number beat economists’ expectations, revisions to prior months’ data showed August’s payrolls lost 4,000 jobs, compared to the previously reported gain of 22,000. July also showed a slightly smaller boost of 72,000 positions, instead of 79,000.
The unemployment rate,

Asia Market Open: Bitcoin Holds Near $92K As Strong Nvidia Earnings Calm AI...

Bitcoin held near $92,000 in Asian trading on Thursday, steadying after a bruising stretch, while a powerful tech-led rally swept across regional stock markets on the back of strong Nvidia earnings and easing fears of an AI bubble.
The token traded in a tight range as some dip buyers returned, but crypto volumes stayed cautious with traders still wary of macro risk and the next batch of US data.
The dollar edged higher ahead of a long-delayed jobs report, keeping risk appetite contained even as equities bounced

The Bureau of Labor Statistics (BLS) will not publish its monthly "Employment Situation" jobs report for October, the agency said on Wednesday, citing its inability to adequately collect data during the government shutdown.
The BLS also announced that the November jobs report, originally scheduled for release on Dec. 5, will now be published on Dec. 16 and will contain what October data the agency was able to collect. The September jobs report, which was also delayed due to the shutdown, is scheduled for release on Thursday.
"Household survey data from the Current Population Survey could not

Crypto market braces for Yen carry trades unwind as **** an's long-term bond yield hits new high.
Bitcoin, Ethereum, XRP and other altcoins pare gains ahead of Nvidia earnings, FOMC minutes, NFP jobs data.
Bull-Bear Structure Index signals continued dominance of bearish factors.
Bitcoin, Ethereum, XRP and other altcoins pare gains as the crypto market braces for another potential selloff. New macro jitters are unlocking ahead of key events such as Nvidia earnings, FOMC minutes release, and Nonfarm payroll jobs data this week.
Japan’s long-term government bond yields surge to record highs f

US stocks retreated on Tuesday as worries about an AI bubble and the broader US economy continued to set markets on edge, with a pivotal Nvidia (NVDA) earnings report and shutdown-delayed jobs data on the horizon.
The Dow Jones Industrial Average (^DJI) fell around 1.1%, or nearly 500 points, adding to a rough four-day sell-off. The tech-heavy Nasdaq Composite (^IXIC) pulled back nearly 1.2%. The S&P 500 (^GSPC) was roughly 0.8% lower, rebounding from earlier in the session but still notching its fourth consecutive losing session.
Bitcoin briefly dipped below $90,000 on Tuesday for the first

US stocks retreated on Tuesday as worries about an AI bubble and the broader US economy continued to set markets on edge, with a pivotal Nvidia (NVDA) earnings report and shutdown-delayed jobs data on the horizon.
The Dow Jones Industrial Average (^DJI) fell around 0.6%, coming off the worst three-day run for the blue-chip benchmark since April. The tech-heavy Nasdaq Composite (^IXIC) pulled back nearly 0.5%, bouncing back from steeper early losses. The S&P 500 (^GSPC) was roughly 0.3% lower, also rebounding from earlier in the session but still on track for its fourth consecutive losing sess

US stocks retreated on Tuesday as worries about an AI bubble and the broader US economy continued to set markets on edge, with a pivotal Nvidia (NVDA) earnings report and shutdown-delayed jobs data on the horizon.
The Dow Jones Industrial Average (^DJI) fell around 0.9%, or about 400 points, coming off the worst three-day run for the blue-chip benchmark since April. The tech-heavy Nasdaq Composite (^IXIC) pulled back nearly 1%. The S&P 500 (^GSPC) was roughly 0.7% lower, eyeing its fourth consecutive losing session.
Bitcoin briefly dipped below $90,000 on Tuesday for the first time in seven

Massachusetts couple refused to get jobs and lived big while burning through $200K in crypto. Now they live with his mom

When Angela met David, he had already made some bold money moves and eventually built up a six-figure cryptocurrency portfolio. Then things came crashing down.
“Instead of being extra smart about it, we had a kid, refused to get jobs or got jobs that paid too little and quit, lived a rich life as if we were actually rich, but only with investments,” Angela wrote to Ramit Sethi ahead of an episode of his Money For Couples podcast (1). “We blew all the investments out.”
T

Benzinga Rankings give you vital metrics on any stock – anytime.
President Donald Trump told McDonald's Corp. (NYSE:MCD) franchisees and suppliers on Monday that they were "lucky" he won the 2024 presidential race, claiming the U.S. economy would have been pushed towards bankruptcy under former Vice President Kamala Harris.
Speaking at the McDonald's Impact Summit in Washington, Trump argued that welfare rolls and government jobs would have surged while "real jobs were going down" if he had lost, The Hill reported.
He warned that without his tariffs and investment agenda, "you would have ha

Two Federal Reserve officials are worried about the job market — more so than inflation.
Fed governor Chris Waller said Monday that he supports cutting interest rates next month because he's more worried that the job market is weakening than inflation accelerating. Waller noted that it's unlikely the September jobs report later this week or any other data in the next few weeks will change his view that another cut is in order.
"The data leads me, at this moment, to support a cut in the FOMC's policy rate at our next meeting on December 9 and 10 as a matter of risk management," Waller said in

US stocks saw a third day of losses on Monday amid doubts about interest rate cuts, as investors looked ahead to high-stakes Nvidia (NVDA) earnings and the delayed September jobs report.
The tech-heavy Nasdaq Composite (^IXIC) erased modest gains to fall over 0.8%, while the S&P 500 (^GSPC) dropped 0.9%. The Dow Jones Industrial Average (^DJI) also slipped around 1.2%, or more than 550 points.
Wall Street is already getting set for Nvidia's (NVDA) earnings on Wednesday, always an intensely scrutinized event. But the stakes are even higher this time amid doubts about Big Tech valuations and h

US stocks struggled on Monday amid doubts about interest-rate cuts, as investors looked ahead to high-stakes Nvidia (NVDA) earnings and the delayed September jobs report.
The tech-heavy Nasdaq Composite (^IXIC) fell roughly 0.5%, while the S&P 500 (^GSPC) dipped around 0.4%. The Dow Jones Industrial Average (^DJI) also traded around 0.3% lower.
Wall Street is already getting set for Nvidia's (NVDA) earnings on Wednesday, always an intensely scrutinized event. But the stakes are even higher this time amid doubts about Big Tech valuations and hefty AI spending. The chipmaker's results and outl

A few months ago, The Conference Board reported the finding that the sheer number of workers aged 55 or older who love their jobs is stunningly high compared to younger generations.
Warren Buffett, 95, knows that sweet feeling of job satisfaction many older workers experience and how hard it is to let go of.
Buffett is stepping down from his duties as Chairman and CEO of Berkshire Hathaway (BRK-B, BRK-A) at the end of the year. In a letter to shareholders published on Monday, he announced that he would no longer write an annual letter or speak at the company's annual meeting. His successor,