Wall Street awaits crucial inflation data before the Federal Reserve's decision; Bitcoin hits a new all-time high.
Wall Street awaits crucial inflation data before the Federal Reserve's decision, with the S&P 500 showing signs of overheating and potential near-term consolidation. Bitcoin hits a new all-time high, while gold consolidates around $2,180 an ounce. The US dollar's decline can be attributed to the Federal Reserve's dovish stance and expectations of rate cuts. Meanwhile, Bitcoin's surge to a new record high demonstrates growing investor interest in cryptocurrencies as a viable alternative to traditional investments. The upcoming Consumer Price Index report will be vital before the Federal Reserve's March 20 policy meeting; any surprising increase in inflation may disrupt optimism surrounding potential Fed policy shifts.
March 11, 2024
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