U.S. stock futures rose on Wednesday after Tuesday’s mixed close. Futures of major benchmark indices advanced.November's delayed and distorted jobs report, released on Tuesday, failed to provide clarity, widening the divide among Wall Street economists debating whether the rise to 4.6% unemployment signals a controlled cooling or the start of a “hiring recession.” Meanwhile, the 10-year Treasury bond yielded 4.16% and the two-year bond was at 3.50%. The CME Group's FedWatch tool‘s projections show markets p ...

Gold pared gains as traders grew cautious on bets of further monetary easing next year after US Federal Reserve officials offered strongly opposing views Friday. Declines in US equities, driven by a selloff in technology shares, also meant some investors may have to exit their positions in metals to cover losses elsewhere. Most Read from Bloomberg Federal Reserve Bank of Cleveland President Beth Hammack said she would prefer interest rates be slightly more restrictive to keep pressure on inflation, whi ...

My next guest isn't worried. He does say 2026 will be the year of a proud bowl, not a stampeding one. Joining us now is Chris Heisy, the chief investment officer for Mel and Bank of America private bank. Chris, I'm not that up on my western metaphors. So, please uh explain what you see happening here. >> Yeah, it's great to be with you, Kelly. I I would say this. A proud bull is one that looks back and says, "Look at all the hard work we did not just in the last 12 months, but really almost the last 36 mont ...

The U.S. Federal Reserve has quietly made a move that markets have not seen in years and one that could have major consequences for risk assets like cryptocurrencies. With quantitative tightening (QT) now officially over, the Fed has confirmed it will begin buying around $40 billion worth of short-term U.S. Treasury bills every month. Fed officials say the move is merely “technical,” meant to keep the financial system running smoothly. But history shows that when the Fed starts adding money back into th ...

Demand for XRP exchange-traded funds shows no signs of ebbing. Spot ETFs backed by the Ripple-linked crypto have attracted $954 million in investment since Canary Capital’s blockbuster November debut, SoSoValue data shows. That is triple the $293 million in Solana products over the same window. By contrast, Bitcoin ETFs saw $2.5 billion in selling, while Ethereum ETFs also bled $471 million, DefiLlama data shows. ETFs are “significant flow machines,” Hyunsu Jung, CEO of treasury firm Hyperion DeFi, to ...

around 2:56 p. m. Eastern.That's when Powell left the door open a crack by claiming that the American economy isn't overheating and that it would set the markets a flame. Listen, >> I would say that is to some extent down to looking for broader economic uh you know uh heat, you know, do we see a hot economy. Do we see constraints. Do we see what what's going on with wages.You saw the ECI report today. It doesn't feel like a hot economy that wants to generate, you know, Phillips curve kind of inflation. >> O ...

My next guest says signals around what comes next are just as important as the policy rate. Sounds like our earlier discussion. Love Tony is founding managing partner at Plexo Capital and a CNBC contributor.It's good to have you here. >> Thanks for having me. >> Um, so the Fed some say needs to make sure that it doesn't further stoke an AI bubble here.Do you share those concerns. >> Well, what's interesting is if we look at the anticipation, it's already been priced in to see a drop of 25 basis points. And ...

BitMine Immersion Technologies (BMNR: NYSE American) has expanded its Ethereum position to more than 3.86 million ETH, lifting holdings to around $13.2 billion and accelerating its weekly ETH buying pace by 156%. The move comes as BMNR remains one of the most actively traded US stocks and as Ethereum trades near the mid-$3,000 range after a volatile fourth quarter. BitMine’s $13.2B Crypto Treasury Push The company reported that its crypto, cash, and “moonshot” assets now total about $13.2 billion, inclu ...

市场表现与流动性理论背离 - 标普500指数在三年内上涨82%，而同期美联储资产负债表规模缩减27% [1] - 股市在量化紧缩时期的上涨挑战了传统的市场流动性理论 [2] - 数据显示，标普500指数上涨82%的同时，美联储资产下降了近四分之一 [3] 市场上涨的驱动因素 - 市场表现与央行政策分离，表明投资者信心受到政策以外因素影响 [4] - 分析师指出，替代性流动性来源推动了本轮上涨，包括：巨额财政赤字、强劲的企业股票回购、外国资本流入以及稳定的银行准备金 [4][5] - 市场对未来的政策预期做出反应，而不仅仅是当前的资产负债表水平，这种前瞻性思维使得股市在美联储维持紧缩立场时仍能上涨 [4][6] 市场广度与行业分化 - 市场涨幅集中在少数大型科技公司，整体市场表现掩盖了与经济基本面相关的行业疲软 [6] - 顶级股票指数未能反映较小公司和脆弱行业面临的压力，例如商业地产正受到资产价值下降和再融资条件收紧的冲击 [8] - 股市主要反映了大型公司的实力，资产负债表稳健且较少依赖消费者的公司表现良好，而依赖信贷或可自由支配支出的公司则面临阻力 [9] 经济压力与市场脱节 - 强劲的股市表现掩盖了更深层的经济压力，企业破产数量接近15年高位，同时信用卡、汽车贷款和学生贷款的消费者违约率正在上升 [7] - 指数表现与整体经济健康状况之间的关联性已大大减弱 [8] - 主要股指暗示金融环境宽松，但基础数据揭示了影响经济许多领域的紧缩压力，这种经济分化使美联储的任务复杂化 [9] 美联储政策与市场预期 - 市场预计本周美联储有86%的可能性降息25个基点 [1] - 经济压力和关于美联储领导层变动的讨论可能使政策方向变得不那么清晰 [1] - 许多投资者和分析师对美联储的方向和有效性提出质疑，有观点认为其机构臃肿且行动滞后，并建议减少依赖美联储的评论来获取市场信号 [10]

全球流动性及美联储政策转向 - 12月初全球流动性出现显著提升 美联储在12月4日前降息概率升至92% 这可能为风险资产反弹提供支撑 [1] - 公司自定义的全球M2货币供应指数显示明确的复苏趋势 并将持续至2025年底 这一预期基于美元走软环境将有助于更广泛的市场动能 [1] - 美联储可能已接近量化紧缩的最后阶段 这一政策转变通常能减轻流动性压力 从而对比特币等资产构成支持 [3] 比特币市场状况与估值 - 比特币在11月跌破了其90天趋势线超过三个标准差 而美国股市则更接近其正常水平 表明比特币相对被低估 [3] - 长期持有者出现了罕见的代币分发时期 同时数字资产产品今年首次以低于净资产值的价格交易 这些因素指向12月可能出现复苏 [4] 山寨币与稳定币信号变化 - 数据显示稳定币主导地位与山寨币相对表现出现分化 过去USDT主导地位达到峰值后 资金往往轮动回高风险资产 [5] - 近期稳定币强势显现疲态 而山寨币保持坚挺 这早期线索表明一旦比特币企稳 市场参与者可能重新转向市场 [5] - 若这种轮动持续 随着流动性转向风险资产 山寨币可能遵循熟悉的快速上涨模式 [6] 市场周期与预期反转 - 公司此前曾提及10月可能出现仓位重置 11月为弱势月份 但坚持认为反转将在12月到来 [2] - 另一方面 有分析师指出美国10年期国债收益率有望创下自2025年6月以来的最大单周涨幅 尽管美联储降息 但10年期收益率仍高于4% 这对风险偏好资产并非好迹象 [4]