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Current News On The Stock Market Rise As The Day Of Inflation Draws Near

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As investors prepared for a significant inflation reading and considered the historic approval of a bitcoin ETF, US stock futures saw a majority of gains on Thursday, supporting the S&P 500’s bid for a new all-time high.

Soft Landing

Futures for the S&P 500 (^GSPC) edged up 0.1% after the benchmark closed on Wednesday at its highest level since January 2022, narrowly missing setting a new high. While futures on the tech-heavy Nasdaq 100 (^NDX) surged over 0.4%, those on the Dow Jones Industrial Average (^DJI) vacillated around the flatline.

This week has been difficult for stocks as investors awaited the US consumer inflation report for December. For speculators, who have been pricing in the possibility of a “soft landing”—where inflation drops to 2% without an economic downturn—since the last CPI report, the print will be crucial.

The report, which is scheduled for release at 8:30 a.m. ET, will be analyzed to determine whether or not to reduce interest rates this year, and any indication of a cooling of price pressures will be taken into account.

Bitcoin Trade

As a game-changer for the industry, the SEC’s regulatory permission of US spot bitcoin ETFs to trade on Thursday handed cryptocurrency stocks a boost. Among those were shares of the exchange Coinbase (COIN) and the miner Marathon Digital (MARA).


Source: CNN

As rival ether (ETH-USD) surged on speculation that the second-largest token would be the next to receive the ETF approval, Bitcoin (BTC-USD) surged past $47,000 to trade at its best levels since March 2022.

Citigroup (C) announced ahead of its quarterly financial update on Friday that the results will include one-time reserves and expenses totaling over $3 billion. With stocks performing so poorly so far this year, the fourth-quarter results season is critical.

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