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Cryptos rebounded across the board! Bitcoin once surpassed $62,000.
Cryptos rebounded from the heavy sell-off earlier this week and Bitcoin broke through $62,000 on Friday.
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S&P rises over 2%, the best in nearly two years, with chip stocks up about 7%, Nasdaq and Chinese stocks up 2.8%, and US Treasury yields and the yen falling for three consecutive days.
The latest employment data alleviates concerns over the US economy, and US stocks rose more than 1.7%. Nvidia's stock rose more than 6%, and Tesla, Alibaba, PDD Holdings, and Tencent ADR rose more than 3%. Bullish on weight loss drug reports, Eli Lilly and Co's stock rose more than 13%, and Novo-Nordisk A/S's US stock rose nearly 8%. The 10-year US Treasury yield rose above 4%, and short-term bond yields rose by 10 basis points. Oil prices rose for the third consecutive day, gold halted its five-day decline, and digital currency had a big increase.
Cryptocurrency Maker Up More Than 11% In 24 Hours
US stock anomaly | Bit Digital concept stock rises, with Bit Digital (BTBT.US) up more than 7.7%.
Shares related to the concept of bitcoin have risen, as of publication, Bit Digital has increased by more than 7.7%.
The top three officials of the Federal Reserve are becoming more dovish: The Fed's "crazy journey" has just begun, and the September meeting may reduce interest rates by 50 basis points.
Dudley, who called for a Fed rate cut in July two weeks ago, believes the longer the Fed delays cutting interest rates, the greater the possible economic damage; once in recession, the Fed is unlikely to cut rates immediately, and may cut 25 or 50 basis points in September depending on the data; the interest rate outlook may remain uncertain in the coming months, and there may be greater volatility in the stock and bond markets.