Bitcoin, Dow, S&P 500, and Nasdaq futures rise on Fed expectations
- Bitcoin rises alongside Wall Street indexes
- Investors await Federal Reserve decision
- Economic data may influence promising cryptocurrencies
Futures contracts on major U.S. exchanges began Tuesday slightly higher, reflecting expectations surrounding crucial economic data and the Federal Reserve's next move. The Dow Jones Industrial Average, S&P 500, and Nasdaq 100 all rose around 0,1%, with investors paying close attention to both corporate performance and the direction of monetary policy.
In the previous session, the Nasdaq Composite reached a new record high, driven by the perception that the U.S. labor market is showing signs of cooling. This scenario has increased the conviction that the Federal Reserve will announce interest rate cuts in September, while debate among analysts focuses on the size of the reduction.
This Tuesday, new revisions from the Bureau of Labor Statistics should provide additional clarity on employment trends in recent months. The prevailing expectation is that the figures will indicate a more moderate pace of hiring. Furthermore, giants like Oracle and GameStop will release their earnings after the market closes, which could add volatility to trading.
Another highlight is Apple's highly anticipated event, which is expected to unveil the iPhone 17, iPhone Air, and updates to accessories like the Apple Watch and AirPods, now with advanced health monitoring features. The market is evaluating whether these new features will be powerful enough to stimulate sales in the face of more selective consumers and less favorable economic conditions.
On the economic calendar, the Producer Price Index (PPI) will be released on Wednesday, followed by the Consumer Price Index (CPI) on Thursday. These readings will help determine whether persistent inflation still poses an obstacle to more aggressive or sustained interest rate cuts.
Meanwhile, in the cryptocurrency market, Bitcoin was trading at $111.975, up 1% daily. Ethereum saw similar gains, trading at $4.311,24. Among the promising cryptocurrencies to buy now, MYX Finance stood out, rising over 200% in just 24 hours, attracting the attention of traders and investors seeking short-term opportunities.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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