Core Viewpoint - The news highlights significant movements in the U.S. stock market, particularly the performance of technology stocks and the volatility of the cryptocurrency sector, specifically related to the Trump family's Bitcoin mining company, ABTC. Group 1: U.S. Stock Market Performance - The three major U.S. stock indices closed higher, with the S&P 500 up 0.25% to 6829.37 points, the Nasdaq Composite up 0.59% to 23413.67 points, and the Dow Jones Industrial Average up 0.39% to 47474.46 points [3] - Intel led the S&P 500 with an increase of over 8%, while other tech giants like Apple, Facebook, and Nvidia also saw gains of 1.09%, 0.97%, and 0.86% respectively [7][8] - Tesla experienced a decline of 0.21%, attributed to short-selling activities by prominent investors [9][10] Group 2: Cryptocurrency Sector - The Trump family's Bitcoin mining company, ABTC, saw its stock price plummet by over 38%, triggering multiple trading halts [5] - Despite a 6% rebound in Bitcoin prices, the sell-off in ABTC and other related assets continued to impact the market negatively [5] Group 3: Federal Reserve and Economic Outlook - Expectations for a Federal Reserve interest rate cut have intensified, with predictions of a 25 basis point reduction in the upcoming December meeting due to a weak labor market [3] - Trump indicated plans to announce a new Federal Reserve chairperson in early 2026, with Kevin Hassett being a potential candidate [3]
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