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The Dow Jones Industrial Average fell 1.64% following a disappointing December jobs report, which dampened investor hopes for interest rate cuts in 2025. This decline adds to a challenging three-month period, with a total drop of 0.53%. While many stocks suffered, some sectors like Healthcare and Energy showed resilience.
The cryptocurrency market faced a significant sell-off, with Bitcoin dropping to around $93,000, marking a 4.5% decline over the week. Despite the downturn, interest in AI agents remains strong, and Bitcoin's dominance increased by 2%. Long-term holders of Ethereum have surged to 74.7%, indicating a growing confidence in the asset.
Filipino banks, including UnionBank and Rizal Commercial Banking Corporation, are set to launch the PHPX stablecoin on Hedera's Distributed Ledger Technology, aiming to enhance real-time remittances and international payments. The PHPX token, expected to go live between May and July, will facilitate multi-currency exchanges and address challenges in cross-border transactions, while adhering to regulatory standards. This initiative reflects the growing adoption of cryptocurrency in the Philippines, a major remittance recipient, with potential applications in retail and larger trade payments.
The stock market gains following Donald Trump's election victory are nearly erased, with the S&P 500's return since Election Day at about 0.5%. This marks the worst performance for the index between an election and inauguration since 2009, as inflation concerns and rising Treasury yields overshadow initial optimism for tax cuts and deregulation. Policymakers are now questioning the feasibility of Trump's proposed tariffs and tax cuts, which could exacerbate inflation and the U.S. deficit.
The luxury pet food market is segmented by types such as organic, grain-free, and high-protein, and applications including dogs, cats, and small pets. Regional analysis covers North America, Europe, Asia, and more, focusing on key manufacturers and market dynamics through various analytical frameworks. The research aims to identify growth opportunities and competitive strategies within the industry.
The CFPB has proposed a rule requiring crypto asset service providers to reimburse users for funds lost to hacks, aligning protections for digital assets with those for fiat accounts under the Electronic Fund Transfer Act. This move comes amid rising crypto thefts, with over $2 billion reported stolen in 2024 alone. If enacted, the rule could impose significant financial burdens on US crypto firms, necessitating substantial reserves to cover potential losses.
Bank of America is enhancing its wealth management division by appointing Ed Riley as the head of capital markets for its Investment Solutions Group, alongside Jessica Mullin as a capital markets strategist. Both will focus on developing tailored solutions for ultra-high-net-worth clients, reflecting the growing demand for personalized financial services. The firm has seen a significant increase in clients with over $10 million in assets, necessitating specialized support for their complex financial needs.
Solana ($SOL) has dropped below $200, reflecting a 12% weekly loss amid concerns over rising inflation and economic growth in the U.S. Analysts suggest this decline may present a buying opportunity, especially with a potential Spot ETF approval on the horizon. Key support is at $175, while resistance is at $225, as market dynamics remain influenced by macroeconomic factors and upcoming regulatory decisions. Additionally, the new layer 2 project, Solaxy (SOLX), aims to enhance Solana's blockchain performance, raising over $9 million in presale.
Russell A. Rabito, a UBS Private Wealth broker, has successfully cleared a $195,000 settlement from his record related to the failed Yield Enhancement Strategy (YES). An arbitration panel credited him for thorough due diligence and proactive communication with clients during the strategy's downturn, attributing the blame to UBS for promoting YES. Despite clients losing 10% of their $2 million investment, they did not oppose the expungement, and Rabito continues to face two other complaints linked to options strategies.
Bitcoin's price fell to $92.5K after stronger-than-expected US jobs data reversed a 12-hour rally that had seen it rise to $95,000. The US economy added 256,000 jobs in December, leading to a decline in expectations for Federal Reserve rate cuts in 2025, which contributed to a broader selloff in the crypto market. Major altcoins also lost their gains, reflecting a 2% drop in total market capitalization.
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Dow Jones Plummets as December Jobs Report Dashes Rate Cut Hopes
17:58 10.01.2025
bitcoin drops to 93000 as market faces inflation concerns and sell-off
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17:48 10.01.2025
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global analysis of the luxury pet food market trends and insights
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17:47 10.01.2025
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17:31 10.01.2025
solana dips below 200 as market reacts to economic data and etf hopes
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17:17 10.01.2025
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