#market #crypto
đ„ Weak US labor market data ignites the market: Bitcoin hits $87,000, while the probability of a Fed pause reaches 85%
The September US employment report disappointed analysts but gave a powerful boost to risk assets. The economy added only 29,000 jobs (versus the expected 84,000â90,000), and the unemployment rate rose to 4.2%. Previous figures for July and August were also significantly revised downward (a reduction of 60,000 jobs).
đ Market reaction:
đȘ Crypto: Bitcoin rose 3.3% over the last 24 hours to $87,118, and the total crypto market capitalization crossed the $3 trillion mark again. Altcoins are also in the green: $SOL +4.1% ($122.11), $XRP +3.1% ($1.53), and $ETH +2% ($2,746).
đ Stock market: The #S&P500 gained 0.89%, and the Nasdaq rose 1.27%. Overall, the US stock market grew by $710 billion.
đ„ Metals and bonds: #GOLD and #Silver prices surged (adding $400 billion in market value in just 8 minutes), while the yield on 10-year US bonds fell to 5.205%.
đ What does this mean for the Fed's interest rate? The cooling labor market has significantly weakened the case for further rate hikes:
According to Kalshi, the probability of the Fed keeping rates unchanged at the October meeting has risen to 85%.
The CME FedWatch tool has lowered the odds of another hike to 12% (down from 69% last week).
â ïž Is the picture entirely clear-cut?
Economists urge against panicking over the "weakness" of the US economy. Seasonal adjustments and the timing of the Labor Day holiday are cited as factors that may have skewed the September data. Moreover, initial jobless claims remain low, and corporate earnings are resilient.
âïž Bottom line: The market has received a strong short-term boost, but traders should monitor whether the hiring slowdown evolves into a broader recession.
đ„ Weak US labor market data ignites the market: Bitcoin hits $87,000, while the probability of a Fed pause reaches 85%
The September US employment report disappointed analysts but gave a powerful boost to risk assets. The economy added only 29,000 jobs (versus the expected 84,000â90,000), and the unemployment rate rose to 4.2%. Previous figures for July and August were also significantly revised downward (a reduction of 60,000 jobs).
đ Market reaction:
đȘ Crypto: Bitcoin rose 3.3% over the last 24 hours to $87,118, and the total crypto market capitalization crossed the $3 trillion mark again. Altcoins are also in the green: $SOL +4.1% ($122.11), $XRP +3.1% ($1.53), and $ETH +2% ($2,746).
đ Stock market: The #S&P500 gained 0.89%, and the Nasdaq rose 1.27%. Overall, the US stock market grew by $710 billion.
đ„ Metals and bonds: #GOLD and #Silver prices surged (adding $400 billion in market value in just 8 minutes), while the yield on 10-year US bonds fell to 5.205%.
đ What does this mean for the Fed's interest rate? The cooling labor market has significantly weakened the case for further rate hikes:
According to Kalshi, the probability of the Fed keeping rates unchanged at the October meeting has risen to 85%.
The CME FedWatch tool has lowered the odds of another hike to 12% (down from 69% last week).
â ïž Is the picture entirely clear-cut?
Economists urge against panicking over the "weakness" of the US economy. Seasonal adjustments and the timing of the Labor Day holiday are cited as factors that may have skewed the September data. Moreover, initial jobless claims remain low, and corporate earnings are resilient.
âïž Bottom line: The market has received a strong short-term boost, but traders should monitor whether the hiring slowdown evolves into a broader recession.
