Daily Market Update: Crypto and Stock Futures Hold Steady Before Key Inflation Data Friday
TLDR
- The Fed’s preferred inflation measure, core PCE, likely rose to 2.9% in September, marking the 55th straight month above the Fed’s 2% target
- Bitcoin’s implied volatility index shows no major disruptions at 36%, suggesting traders expect only a 1.88% price swing in 24 hours
- A softer inflation report could push the 10-year Treasury yield below 4% and help Bitcoin break out of its $92,000-$94,000 trading range
- Stock futures traded flat on Thursday night with the Dow and S&P 500 near flatline while Nasdaq 100 futures rose 0.1%
- Markets price in an 87% probability of a quarter-point Fed rate cut on December 10, regardless of PCE data
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