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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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Anthony Albanese Secures Historic Second Term as Australia's Prime Minister

 

In a landmark victory, Prime Minister Anthony Albanese has won a second consecutive three-year term, making him the first Australian leader in 21 years to achieve this feat. His center-left Labor Party secured a decisive win over the conservative opposition, led by Peter Dutton, who conceded defeat and accepted responsibility for his party’s performance.  

The election was shaped by key issues such as inflation, energy policy, and cost-of-living concerns, with both major parties presenting contrasting solutions. Albanese’s administration emphasized renewable energy and economic stability, while Dutton’s campaign focused on nuclear power and government spending cuts.  

International relations also played a role, with Albanese highlighting his government’s success in improving trade relations with China, which had previously imposed restrictions costing Australian exporters billions. Meanwhile, Dutton’s party faced criticism for its alignment with U.S. President Donald Trump’s policies, which some voters viewed as divisive.  

With this victory, Albanese is set to continue his leadership, promising economic reforms, climate action, and social welfare improvements. His win signals strong public support for his vision of a **progressive and stable Australia.  



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