We hope everyone had a successful week in the markets! Here’s your latest market update as we head into another eventful trading session.
1. All Eyes on Payrolls
Today’s U.S. jobs report is critical, as the Federal Reserve’s next move may hinge on these numbers. Economists predict November added 202,000 jobs, a sharp rebound from October’s modest 12,000, which was hampered by strikes and hurricanes. Despite this expected recovery, markets are still betting on a 70% chance of a rate cut at the Fed’s December meeting. However, a strong jobs report—like September’s—could challenge those expectations. Stay tuned for OP Wire’s pre-market breakdown and insights.
2. Stock Futures Hold Steady
Wall Street futures are flat as traders await payroll data. After a record-setting Thursday, major indices took a breather:
– Dow Jones: -0.6%
– S&P 500: +0.7% (week-to-date)
– Nasdaq Composite: +2.5%
Corporate earnings from Ulta Beauty, Gitlab, and DocuSign impressed, but today’s focus remains squarely on labor market health. Be prepared for potential whipsaw action as markets digest the report.
3. Bitcoin Slips Below $100K
Bitcoin saw a pullback to $98,550, down 4.3% but still up over 1% this week. Its dominance in the crypto market is waning, dropping to 53.9% after reaching 59% in November. Regulatory clarity under pro-crypto leadership is stirring the market, with analysts predicting that blockchain utility—not just Bitcoin—could shape the next phase of crypto growth.
4. Investors Flock to Cash
As markets hit record highs, uncertainty is driving investors to safety. Bank of America reports a $136.4 billion inflow into cash last week, the largest since March 2023. Stocks and bonds still saw modest inflows, but crypto stole the spotlight with $11 billion over four weeks, the largest injection ever recorded.
5. Oil Prices Face Pressure
Oil dipped Friday, with Brent crude falling 0.4% to $71.77 and WTI at $68.02. Concerns over weak demand, especially from China, continue to weigh. OPEC+ extended supply cuts into 2025, but the cartel has repeatedly downgraded global demand growth projections. For the week, Brent is down 1.5%, while WTI holds marginal gains.
Shoutout to OP Members
Big win yesterday on Bitcoin’s reversal—our community crushed the pop and nailed the drop. Keep stacking those gains and stay sharp for next week. See you in chat, and don’t miss today’s OP Wire and upcoming State of OptionsPlayers letter!
Stay disciplined and ready—big moves are coming.
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