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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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Carney to Request Dissolution of Parliament, Election Expected


Prime Minister Mark Carney is set to visit Governor General Mary Simon this Sunday to request the dissolution of Parliament, paving the way for a federal election. This move comes just a week after Carney's swearing-in as Prime Minister and the appointment of his cabinet.

The election campaign is anticipated to last between 36 and 50 days, with voting day likely to fall on either April 28 or May 5. Recent polls suggest a tight race, with Carney's Liberal Party holding a slight edge over Pierre Poilievre's Conservatives. However, the Liberals' broader geographic voter base could give them an advantage in securing more seats.

This election call comes at a critical juncture, as party leaders prepare to solidify support in key battleground provinces like Ontario, Quebec, and British Columbia. The outcome could shape Canada's political landscape for years to come.

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