US Stock Market Move | Market expectations for a Fed rate hike in October cool down, cryptocurrency-related stocks rise.
On Friday, U.S. cryptocurrency-related stocks climbed, with TeraWulf (WULF.US) rising over 8%.
On Friday, US cryptocurrency-related stocks rose, with TeraWulf (WULF.US) up over 8%, IREN (IREN.US) up over 7%, and Robinhood (HOOD.US), MARA (MARA.US), and Cipher Digital (CIFR.US) up over 5%. On the news front, survey data released by the US Department of Labor on the 2nd showed that the US added 29,000 nonfarm payroll jobs in September, well below the downwardly revised 133,000 in August and also below the average monthly increase of 45,000 over the previous 12 months. After the latest nonfarm payroll data was released, market expectations for the Federal Reserve to continue raising rates at its October monetary policy meeting cooled further. The cryptocurrency market rose broadly, with Bitcoin up 1.93% at $85,679 and Ethereum up 0.89% at $2,710.
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