$BTC stayed weak and slightly lower despite the bounce in tech shares, with spot ETF outflows continuing and some traders calling it only a dead cat bounce (a brief rally within a decline). Gold was roughly flat and silver slightly firmer, after yesterday's hotter inflation data strengthened bets on Fed rate hikes. Natural gas rose sharply the previous day on colder forecasts and lower production, but today's move could not be verified. Oil rebounded as attacks on ships revived supply worries, after falling sharply the previous day when the chance of new strikes on Iran eased. A watch and accessories company beat expectations, posted its first profit in years, raised its outlook and its shares jumped. Memory and storage chip shares, including a storage company, rebounded overnight. A large chip company's shares bounced after two days of heavy losses. The 10 year yield (the return on government debt) rose sharply the previous day and briefly moved above a key level. October's inflation data was hotter than expected, lifting bets on a December rate hike, and another Fed official said there is still work to do to bring inflation down. The dollar's move could not be verified. S&P 500 futures (contracts on future index prices) are up about 1 percent, Nasdaq futures are up more and Dow futures less, on a bounce in technology shares. The bond market holiday today could not be separately confirmed. This is a market observation only, so base your trading decisions on your own research and risk tolerance.
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