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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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Barack Obama to Headline DNC on Tuesday: A Major Push for Kamala Harris

Former President Barack Obama is set to headline the Democratic National Committee (DNC) event this Tuesday, marking a significant moment in his active support for Vice President Kamala Harris. As one of the most influential figures in the Democratic Party, Obama’s involvement underscores his commitment to Harris and signals her pivotal role in the party’s future.

Obama’s speech at the DNC is expected to be a powerful endorsement of Harris, highlighting her achievements and reinforcing her position as a key leader within the Democratic Party. This event comes as Obama takes a more hands-on approach to campaigning for Harris, who has been a trailblazer as the first female, Black, and South Asian vice president in U.S. history.

The former president’s efforts are part of a broader strategy to galvanize Democratic voters ahead of the upcoming election cycle. By aligning himself closely with Harris, Obama aims to energize the party’s base and appeal to a diverse coalition of voters. His endorsement is seen as crucial in bolstering Harris’s profile and positioning her as a central figure in the party’s future leadership.

As Obama takes the stage on Tuesday, his message will likely focus on unity, progress, and the importance of continuing the work begun during his presidency. His campaign for Harris is not only about supporting her but also about ensuring the Democratic Party remains strong and cohesive as it faces the challenges of the 2024 election and beyond.

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