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Traders added to bets the Federal Reserve will raise short-term interest rates at its meeting next week after the first of this week's key inflation reports showed producer prices rose 5.4% in the 12 months through August.Before the report traders had seen about a 65% chance of a quarter-point rate…
Coinbase Global shares fell roughly 4% Friday, trimming Thursday’s 10.1% rally after an August jobs report topped expectations and pushed traders toward a September Fed hike.
Bitcoin jumped nearly 5% to $81,545 after Fed Governor Christopher Waller comments capped rate hike bets. Ethereum was $2,510; XRP $1.46; Dogecoin $0.08932; Solana $105.01.
U.S. stocks drifted lower midday Wednesday after July PCE inflation met monthly forecasts but ran hotter than expected annually, while second-quarter GDP growth was confirmed at an annualized 1.5%.
U.S. stocks post modest weekly gains, with the S&P 500 and Nasdaq Composite advancing, the Russell 2000 hitting an all-time high, and softer inflation data reducing bets on another Fed rate hike.