Stock Rally Stalls as Anxiety Brews in Jobs Run-Up: Markets Wrap
- US jobless claims rise to one-month high in Thanksgiving week
- Bitcoin pares rally after earlier soaring past $100,000 mark
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Stocks lost steam near all-time highs, with Wall Street traders gearing up for key jobs data that will help determine whether the Federal Reserve will cut or hold interest rates in December.
Equities dropped a day after the S&P 500 hit its 56th record this year. Short-term Treasuries underperformed, with the market standing at critical technical levels. Bitcoin pared a rally that earlier drove the digital asset past $100,000, buoyed by President-elect Donald Trump’s pick of a crypto proponent to be the next head of the US securities regulator.