#4E : U.S. November PPI inflation exceeds expectations, all three major U.S. stock indexes decline, DeFi sector in the crypto market strengthens
BlockBeats news, on December 13, the latest data shows that the U.S. November PPI increase exceeded expectations, with the month-on-month increase reaching the highest in seven months, indicating rising inflation. The market anticipates a 25 basis point interest rate cut next week, but bets on a pause in rate cuts in January next year. According to 4E monitoring, the market has fully priced in the expectation of a rate cut in December, but the latest data has increased uncertainty regarding the Federal Reserve's rate cut prospects for next year. All three major U.S. stock indexes declined, with the Dow Jones falling 0.53% for six consecutive days, the S&P 500 index down 0.54%, and the Nasdaq down 0.66%. Large tech stocks mostly declined after failing to maintain the momentum earlier in the week, with Nvidia down 1.41%, Tesla down 1.57%, crypto concept stock MSTR down 4.67%, and Coinbase down 0.27%. The crypto market rose and then fell back, as Trump stated during the ringing of the opening bell at the NYSE that he would do something great in the cryptocurrency space, briefly pushing Bitcoin above $102,000, but it subsequently fell back below $100,000 due to the drag from U.S. stocks, causing a collective retreat in the crypto market. The DeFi sector performed strongly, driven by the Trump family's WLFI project purchasing ETH, AAVE, and LINK, resulting in a broad increase in DeFi tokens. Currently, WLFI holds approximately $74.9 million worth of cryptocurrencies, with the largest holding being ETH, which the market views as the Trump family's optimistic outlook on Ethereum's potential and an early layout of its crypto strategy. In the forex commodities sector, inflation data pushed the U.S. Dollar Index up 0.31%, rising for the fifth consecutive day; the International Energy Agency (IEA) forecasts oversupply next year, offsetting the optimistic sentiment for rate cuts, leading to declines in U.S. oil and Brent crude; a stronger dollar puts pressure on gold, and strong PPI data further reduces gold's appeal as a safe haven, resulting in a significant drop in gold prices, with the London spot gold price down 1.33%. eeee.com is a financial trading platform that supports cryptocurrencies, stock indices, commodities like gold, and forex, recently launching a stablecoin financial product with an annualized return of 5.5% in USDT, providing investors with potential safe-haven options. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably. $AAVE
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