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Stock Market Hits Pause as Investors Eye Jobs Data; Bitcoin Surges Past $100,000

                                         US stock futures stalled on Thursday as investors awaited fresh jobs data, causing the Nasdaq, Dow, and S&P 500 to hit a pause on their recent rallies. Meanwhile, Bitcoin continued its impressive run, surpassing the $100,000 mark. Market Movements Dow Jones Industrial Average (YM=F): Futures were little changed, signaling a pause in the record-setting rally that saw the Dow close above 45,000 for the first time. S&P 500 (ES=F): Contracts hovered below the flat line, with investors counting down to Friday's monthly jobs report. Nasdaq 100 (NQ=F): Also saw little movement, with futures hovering below the flat line. Bitcoin's Surge Bitcoin (BTC-USD) reached around $102,500 after breaking through the key $100,000 level late on Wednesday. This surge is driven by hopes for a crypto-friendly administration under President-elect Donald Trump, ...
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TSX Futures Point to Upbeat Open as Gold Shines; Powell Testimony in Focus

As the sun rises on the trading day, Canadian investors are keeping a close watch on the Toronto Stock Exchange (TSX). Here’s what’s happening in the premarket:

1. Gold Continues Its Ascent

  • Gold futures are glittering, reaching an impressive $2,162.5.
  • Investors are drawn to the precious metal as a hedge against inflation and uncertainty.

2. Powell Takes the Stage Again

  • Federal Reserve Chair Jerome Powell is back in the spotlight. His second day of congressional testimony is eagerly anticipated.
  • Yesterday, Powell hinted at potential interest rate cuts if inflation continues to wane. His words today could sway market sentiment.

3. Materials Sector Gains

  • The materials sector is poised for a sixth consecutive session of gains.
  • Copper touched a five-week high, fueled by better-than-expected trade data from China, a major metals consumer.

4. Oil Prices Slip

  • Despite upbeat Chinese trade data, oil prices are slipping. Expectations of delayed rate cuts are putting pressure on crude prices.

5. Bank of Canada’s Stance

  • The Bank of Canada (BoC) held its key overnight rate steady at 5%. BoC Governor Tiff Macklem emphasized that underlying inflation suggests it’s too early for a cut.
  • Investors find comfort in the expectation that inflation will ease in the second half of the year.

6. Descartes Systems Gets a Boost

  • Descartes Systems, a software company, saw its fourth-quarter revenue beat estimates. Four brokerages raised their price targets for the stock.

As the TSX gears up for the opening bell, all eyes remain on Powell’s testimony and economic data. Buckle up for a day of market moves and stay tuned for further developments.







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