US market outlook: Bitcoin and NVIDIA continue to decline, have US stocks reached their peak? The Dow Average started at $34 higher

Good evening to all Moomoo users!This is the reading for tonight's NY stock.

Market Overview
The US market started, and the Dow Jones Industrial Average, which consists of excellent stocks, rose by 34.16 dollars to 39184.49 dollars, and the Nasdaq Composite Stock Price Index, which has a high high-tech stock ratio, began at 17640.26, falling 49.10 points. The S&P 500 average, which consists of stocks of 500 large American stocks, fell 5.04 points to 5459.58.

There is a possibility that the US job market is far more serious than the scene depicted by the number of people employed in the non-farm sector
● In California, which is the number one job market in the United States, there was actually no real increase in employment last year. According to a report released in June by the bipartisan California Congressional Analysis Office (LAO), California actually reduced employment by 32,000 people in the fourth quarter of 2023 due to initial data revisions. As a result of this amendment, there was virtually no net increase in employment in California for the full year of 2023 (only 9,000 more people per year).
● Standard Chartered Securities pointed out that there is a possibility that the inflow of illegal immigrants into the United States is changing employment trends and GDP growth rates, making it difficult to determine whether strong numbers of non-farm payers and GDP figures reflect true supply and demand. The U.S. Congressional Budget Office (CBO) estimates that 860,000 people crossed the border in the 2023 fiscal year without contacting US immigration authorities. Even without EAD, even using forged documents or borrowed documents, there is a possibility that these illegal immigrants will remain and work in the United States and become part of the economic/employment statistics.

bond signal
● In the US bond market, an important indicator is flashing a bearish signal. Government bonds are showing momentum to resolve the year-to-date decline, and traders are deepening their confidence in the possibility that interest rates will be cut by the Fed.
● Meanwhile, neutral interest rates (theoretical levels where borrowing costs neither stimulate nor limit growth) are far higher than expected by policy authorities.

Cryptocurrency depreciation
● The crypto market crash, which was the worst week of the year, continues.
● The index of the top 100 digital assets fell by about 5% in the week leading up to Sunday and remained negative, and Bitcoin fell further by about 4% and fell below 62,000 dollars.
● Uncertainty about monetary policy and cooling demand for Bitcoin exchange-traded funds have contributed to the decline.