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Wall Street Futures Climb on Fed Cut Hopes as Bitcoin Extends Steep Decline

US markets staged a rebound Friday morning, with futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq all moving higher after a turbulent week. The rally was fueled by growing bets that the Federal Reserve could cut interest rates at its upcoming December meeting, following dovish comments from New York Fed President John Williams. His remarks shifted sentiment sharply, with nearly 70% of traders now expecting a rate cut. Dow futures gained 0.7% , leading the advance. S&P 500 futures rose 0.5% , while Nasdaq futures added 0.4% . The optimism comes after Thursday’s sharp sell-off, underscoring the volatility gripping markets as investors weigh AI-driven risks and Fed policy divisions. Meanwhile, cryptocurrencies continued to struggle. Bitcoin plunged to around $82,000 , marking its worst month since the 2022 crypto collapse. The decline reflects heavy institutional outflows, miner sell-offs, and broader risk-off sentiment across digital assets.
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US Stocks Waver Amid Rate Cut Speculation



As the financial world turns its gaze towards the Federal Reserve, US stocks have shown a slight decline. Investors are eagerly anticipating a speech from Jerome Powell, the Fed Chair, which could provide hints on the future of interest rates. The S&P 500 has seen a minor dip, while the Dow Jones remains unsteady. The Nasdaq, largely influenced by tech, has taken a more significant hit after a collective downturn.

The market’s early-year rally has been dampened by strong economic indicators, which have lessened the likelihood of the anticipated three Fed rate cuts. The Atlanta Fed’s Raphael Bostic predicts the first rate reduction might not occur until the year’s final quarter.

Amidst these developments, all eyes are on the outcome of Disney’s proxy fight with Nelson Peltz, as well as the impact of a major earthquake on TSMC’s operations, a key supplier to tech giants like Apple and Nvidia. Intel’s shares have also dropped following a report of increased operating losses. The financial community is on alert, waiting for signals that could steer the economic course.

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