US stock markets san climb on Friday for close turbulent session inside green amid rising optimism for December interest rate cut, while bitcoin (BTC-USD) dey keep dey tumble amid brutal stretch for cryptocurrencies.
The tech-heavy Nasdaq Composite (^IXIC) and benchmark S&P 500 (^GSPC) close the day up right around 0.9% and 1%, respectively, after seesawing back and forth early for the session. The Dow Jones Industrial Average (^DJI) gain around 1.1%, or just shy of 500 points.
US equities perked up early Friday after the New York Fed president John Williams say he dey see room for cut inside the "near term." That led rate-cut bets for the Fed's next meeting to spike, with traders pricing inside 75% odds of a December cut, up from around 40% on Thursday. Williams' remarks dey come amid evidence of deeply divided Fed heading into ein final meeting of 2025.
But Friday's gains fail to undo losing week for stocks amid mounting concerns over AI-fueled "bubble." Not even Nvidia (NVDA) and ein CEO, Jensen Huang, could allay those fears after the AI chipmaker's blowout earnings reveal on Wednesday. The chipmaker end Friday's trading session inside the red, down just shy of 1%.
All three US gauges record weekly losses, with the S&P 500 down nearly 2% and the Nasdaq off near 3%. Both indexes end Thursday's down session at their lowest levels since September.
While stocks dey seesaw, cryptocurrencies dey also feel the heat. Bitcoin sink on Friday to trade as low as $82,000, deepening slide from record-high levels just more than month ago. E dey now heading for ein worst month since the crypto collapse of 2022.
Meanwhile, measure of consumer confidence from the University of Michigan show sentiment deteriorate further inside November to