The U.S. stock market closed slightly lower on Wednesday, with the Dow falling for the third consecutive trading day. Meanwhile, Bitcoin briefly exceeded $64,000, indicating renewed interest in digital currencies. The Nasdaq and the S&P 500 also saw declines, reflecting the cautious sentiment among investors.
In other global markets, European stocks closed with mixed gains, while Asian-Pacific markets showed a more positive trend with various indexes in South Korea, Indonesia, Vietnam, and Singapore posting gains.
The price of Bitcoin rose by more than 6%, reaching over $64,000, while Ethereum also saw an increase to $3,338.86. Gold futures closed down slightly, while crude oil futures showed mixed movements.
In macro news, U.S. GDP growth in the fourth quarter of last year was revised slightly downward, reflecting lower inventory levels. The New York Fed President emphasized the long road ahead in achieving the 2% inflation target, while the Boston Fed President hinted at potential interest rate cuts later this year.
Goldman Sachs commented on the U.S. stock market, expressing uncertainty about predicting the peak of the current rally. Additionally, an ECB official highlighted the need for European banks to improve risk control for trading customers.
Individual stock news included criticism from Alphabet’s CEO towards the Gemini AI image generation error and promises from Apple’s CEO about breaking new ground in generative artificial intelligence.
Overall, the markets continue to be influenced by a mix of economic data, inflation concerns, and advancements in technology, keeping investors on their toes as they navigate the ever-changing landscape.