Market Brief 1 November, 2024
Good evening, investors and traders! The markets are showing mixed signals today, with the Nasdaq 100 Index (NDX) up by 0.6% to 20,029.43 and the S&P 500 Index (GSPC) up by 0.28% to 5,725.95. The US jobs report came in weaker than expected, adding only 12,000 jobs in October, which has fueled expectations for a Fed rate cut next week. The news cycle is dominated by the upcoming US election, with both candidates making headlines for their stances on cryptocurrencies. Immutable is facing scrutiny from the SEC over its IMX token, while 21Shares has filed for an XRP ETF, adding to the growing interest in crypto ETFs. The crypto market is showing volatility, with Bitcoin dipping below $70,000, but analysts are still bullish on the long-term prospects for the asset class.
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