According to BlockBeats, on October 14, the U.S. September CPI and PPI data were released last week, sending confusing signals to the market, but the overall data showed that inflationary pressure still exists, and the Federal Reserve's 25 basis point interest rate cut next month is almost a foregone conclusion.
According to 4E monitoring, the unexpectedly flat PPI data last Friday caused the three major U.S. stock indexes to rise collectively, with the Dow Jones and S&P 500 hitting intraday record highs. Last week, the Dow Jones rose 1.21%, the S&P 500 rose 1.11%, and the Nasdaq rose 1.13%. The three major stock indexes all recorded gains for the fifth consecutive week; the crypto market rose along with the U.S. stock market, with Bitcoin returning to $62,000 and closing at $62,659 as of press time, narrowing its weekly decline to 1.82%, and Ethereum at $2,455, narrowing its weekly decline to 1.47%.
In terms of foreign exchange commodities, the U.S. dollar index continued to rebound last week, rising by 0.4%, driving most non-U.S. currencies to fall. Affected by the intensified tensions in the Middle East, international oil prices rose for the second consecutive week, with U.S. oil rising by 1.6% and Brent oil rising by 1.3%. The repeated trend of the U.S. dollar drove spot gold further to its historical high, turning slightly higher for the week. COMEX gold futures were reported at US$2,674.2 per ounce, up 0.04% this week.
This week, the US economic data is relatively calm, and corporate earnings reports may become a bigger focus. As the new round of earnings season kicks off, US stocks may face challenges. The news that is considered to be the biggest danger to the crypto market recently is the news about the possibility of the US government selling 69,000 bitcoins (about 4.2 billion US dollars). In addition, with only a few weeks to the US election, the stalemate in the election situation has also added a lot of uncertainty to the market. eeee.com is a financial trading platform that supports assets such as cryptocurrencies, stock indexes, bulk gold, and foreign exchange. It recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.
