Indices in the US end the day flat, with limited volatility. Throughout the session, both US500 and US100 were trading near opening levels, staying at historical highs. Meanwhile, US2000 sees nearly a 1.10% drop to 2,400 points.
In Europe, gains dominate. The strongest performer today was Italy’s IT40, which gained almost 1.6%. Germany's DAX increased by 0.6%, while France's CAC40 rose by 0.4% despite political turmoil in the country. Switzerland's SMI ended the session at levels similar to yesterday’s closing price, while the Stoxx Europe 600 gained 0.4%.
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MicroStrategy erased over 8% gains in the second half of the session,
which were driven by Bitcoin breaking the $100,000 mark. The stock is now trading about 3.5% lower than yesterday’s closing price.
The US Dollar (USD) is one of the weakest-performing G10 currencies today.
The USDIDX index is down 0.40% to 105.9500 points, with intraday losses reaching as much as 0.60%. EURUSD is up 0.50% to 1.05600, while USDJPY is down 0.15% to 150.3000.
New jobless claims in the US came in higher than forecasts. Theoretically, a higher reading may provide arguments for faster rate cuts.
US Initial Jobless Claims:
- Value: 224k
- Forecast: 215k
- Previous: 213k
OPEC+ plans to gradually phase out production cuts starting from Q1 next year until 2026. WTI crude reacted with a sharp decline to this announcement but has since pared losses to -0.20%. The limited market reaction may be due to the fact that this decision was anticipated.
Natural gas (NATGAS) prices did not show significant movement in response to the EIA's weekly inventory report. The inventory change was -30 billion cubic feet versus a forecast of -43 billion cubic feet and a previous change of -2 billion cubic feet.
Bitcoin breaks the psychological $100k barrier, gaining 2.50% to $101,300. However, the gains are slightly reduced as Bitcoin previously surged by 5.50% to $103,800.
Other projects see slightly smaller gains. Ethereum is up 1.35% to $3,900, while the total market capitalization of altcoins excluding Ethereum is up 2.20% to $1.11 trillion. Bitcoin dominance rebounds today to 56% from a local low of 54.7% yesterday.
