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Bitcoin is sinking. It’s down 4.2% today, falling below $91,000—the lowest in two months. Ethereum is getting hit even harder, dropping 9.3%. Rising Treasury yields are making investors dump riskier bets like crypto. Let’s break it down. Crypto Drops, Bond Yields Rise Bitcoin breaking
Markets are pulling back today as traders wait for December jobs data. Futures for the S&P 500 and Nasdaq 100 are both down -0.2%. Stocks Fall Before Jobs Data The numbers are expected to show +165,000 new jobs added in December, with unemployment steady at 4.
Tech stocks are lifting markets today. Nasdaq futures are up 0.96%, driven by excitement over Microsoft’s massive $80 billion AI spending plan. Treasury yields are climbing, hitting levels we haven’t seen since 2023, and the dollar is slipping for the second day in a row. Let’s
Zero-day-to-expire options (0DTE) are taking over the market. These contracts, which expire the same day they’re traded, now make up 50% of all S&P 500 options activity — a huge jump from just 17% in 2020, per WSJ. These options could cause extreme volatility for markets. Zero-day options
Markets are settling into holiday mode, with stock futures slightly down on the last full trading day before Christmas. Here’s where things stand today: * Nasdaq-100: +0.37% * S&P 500: +0.04% (flat) * Dow Jones: -0.22% On Friday, the S&P 500 rose 1.1%, recovering
Markets are lower this morning. Nasdaq 100 futures are leading the drop, down -1.10%. Bitcoin is also losing steam, falling $15,000 from its December high, while Apple is on the verge of a historic $4 trillion market cap.
Let’s break it down.
Market Futures
Markets are off to a rough start today. Here’s where the major futures stand (as of 7:59am cst):
- Russell 2000: -0.91%
- Dow Jones: -0.97%
- S&P 500: -1.20%
- Nasdaq 100: -1.41%
Apple nearing a $4 trillion valuation
Apple's closing in on a $4 trillion market cap! The stock is up +33% this year, trading at $256, and has added $870 billion in value in 2024 alone.
To put that in perspective, Apple would be worth more than 43% of the S&P 500 combined if it hits this milestone.
Bitcoin’s recent decline
Bitcoin is pulling back hard .. it's now trading at $93,169, about $15,000 below its mid-December high. Expectations for Fed rate cuts have cooled, taking some momentum out of the rally. Other tokens like Ethereum (+0.34% this morning) and Dogecoin (+0.04%) are also struggling.
Bitcoin is still up +110% this year, making it the best-performing investment of 2024. Traders are watching MicroStrategy, which has been aggressively buying Bitcoin, to see if it will continue its spree despite the pullback.
Key data this week
Here’s what’s coming up:
- New Year’s Day holiday, this Wednesday
- U.S. construction spending, jobless claims, manufacturing PMI, this Thursday
Current market data
- Futures Performance:
- Nasdaq 100: -1.10%
- S&P 500: -0.99%
- Dow Jones: -0.80%
- Russell 2000: -0.63%
- Cryptocurrency Performance:
- Bitcoin: -0.43% to $93,169
- Ethereum: +0.34% to $3,464