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Stocks Eye Rebound After Monday Sell-Off
2 Dec
Summary
- US stock futures indicated a cautious rebound Tuesday.
- Bitcoin prices recovered, trading above $87,000.
- Investors await inflation data amid rate cut bets.
US stock futures showed signs of recovery on Tuesday, seeking to rebound after a volatile start to December trading that saw a notable sell-off across major indexes and cryptocurrencies. This tentative comeback suggests markets may be shaking off Monday's risk-averse mood, which ended recent winning streaks for key US stock indexes.
In tandem with the stock market's potential revival, Bitcoin also saw an upward movement, trading above $87,000, signaling a halt to its recent skid. This positive shift extended to crypto-linked companies like Coinbase and Robinhood, which had previously experienced significant losses. Investor sentiment appears cautiously optimistic as the year-end rally possibilities are being debated.
Market participants are now closely monitoring economic indicators, with a particular focus on the forthcoming consumer inflation data, which could influence prospects for a December interest rate cut. Despite some data suggesting factory activity headwinds, expectations for easing by the Federal Reserve remain high, with significant market pricing for a rate reduction at the upcoming meeting.
