Bitcoin trades below $80,000 on Thursday morning as hotter-than-expected U.S. producer inflation data weakened expectations for near-term Federal Reserve rate cuts. Bitcoin ETFs saw $635.2 million in net outflows on Wednesday, while Ethereum ETFs reported $36.3 million in net outflows. Meme coin market capitalization is trading 1.6% lower at $38.5 billion over the past 24 hours.
Jeff Rosenberg, senior portfolio manager at BlackRock Inc.??said Thursday that inflation pressures may actually be nearing a peak despite recent hotter-than-expected CPI and producer inflation reports that reignited fears of further Federal Reserve tightening.
President Donald Trump?s nominee Kevin Warsh has been confirmed as the new Federal Reserve Chair, but bettors believe there's a reasonable chance he could still face public pushback from the POTUS. Prediction market Kalshi estimates a 56% likelihood that Trump will criticize Warsh before the end of the year.
Kevin Warsh has been confirmed as the next chair of the Federal Reserve, marking a significant leadership shift at the U.S. central bank, confirmed the New York Times. Read Also: Trump Wanted Warsh For Rate Cuts, He May Get A Hike Instead Warsh, a former Federal Reserve governor who served from 2006 to 2011, succeeds Jerome Powell at a challenging moment for the economy.
Editor?s note: This article was updated to add details and context. U.S. producer prices jumped the most since 2022 last month as the Strait of Hormuz energy shock continued to feed through the inflation pipeline, adding fresh concerns over the Federal Reserve?s rate outlook.
U.S. producer prices jumped the most since 2022 last month as the Strait of Hormuz energy shock continued to feed through the inflation pipeline, adding fresh concerns over the Federal Reserve?s rate outlook.
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the ?Greed? zone on Tuesday. U.S. stocks settled mixed on Tuesday, with the S&P 500 falling from a record high during the session after a hotter-than-expected April inflation report consolidated worries that the Federal Reserve will not cut interest rates this year.
Editor?s note: This article was updated to add more detail and context. Price pressures intensified further in April as the energy shock from the Strait of Hormuz blockade reverberated across the Consumer Price Index basket.
Price pressures intensified further in April as the energy shock from the Strait of Hormuz blockade reverberated across the Consumer Price Index basket. The headline inflation rate climbed from 3.3% year-over-year in March to 3.8% in April, topping economist expectations of 3.7%, the Bureau of Labor Statistics reported Tuesday.
Bitcoin is holding above $80,000 as traders await key U.S. CPI inflation data. Meme coin market capitalization is trading 2.9% lower at $39.3 billion over the past 24 hours. Trader Commentary:? Trader Michael van de Poppe said Bitcoin's broader trend structure remains bullish despite recent consolidation.
Sales of previously owned U.S. homes rose slightly in April as housing inventory improved, though affordability pressures continued limiting broader market activity. Existing-home sales increased 0.2% month-over-month to a seasonally adjusted annual rate of 4.02 million units in April, according to data released on Monday by the National Association of Realtors.
If the disinflation story stalled in March, April is set to bury it. The Bureau of Labor Statistics releases the April inflation data at 8:30 a.m. ET on Tuesday, three days before Kevin Warsh is expected to be sworn in as the next Federal Reserve Chair on May 15.
Editor?s note: This article was updated to add details and context. The U.S. labor market added 115,000 nonfarm payrolls last month, blowing past economist forecasts for 62,000, the Bureau of Labor Statistics reported Friday. The print marks a slight deceleration from the prior month?s upwardly revised 185,000 gain.
The U.S. labor market added 115,000 nonfarm payrolls last month, blowing past economist forecasts for 62,000, the Bureau of Labor Statistics reported Friday. The print marks a slight deceleration from the prior month?s upwardly revised 185,000 gain. The unemployment rate held at 4.3%, unchanged from the previous reading and in line with the 4.3% consensus.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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