CNBC Daily Open: Bitcoin's badge of honor
Publishing timestamp: 2024-01-10 18:55:45
Summary
The SEC has approved the creation of bitcoin exchange-traded funds, allowing regular investors access to the cryptocurrency. The first funds are set to start trading on Thursday. The price of bitcoin dropped about 2% following the news. U.S. stocks ended higher as investors awaited the start of earnings season and inflation data. Amazon announced job cuts in its Prime Video and MGM Studios divisions. The December inflation data, set to be released on Thursday, could impact the market's perception of future interest rate cuts by the Federal Reserve. The approval of bitcoin ETFs is seen as a significant development for the cryptocurrency, and some believe it could lead to a new bull market and a potential price of $100,000 by 2024. However, there are also concerns about potential market volatility and whether the market's expectations align with the Federal Reserve's monetary policy.
Sentiment: MIXED
Tickers: .STOXX, .IXIC, .DJI, WFC, C, BTC.BS=-USS, .SPX, AMZN, BTC.CM=, JPM, GOOGL,
Keywords: amazon.com inc, united states, prices, jpmorgan drn, dow jones industrial average, stoxx 600, markets, business news, bitcoin/usd bitstamp, citigroup inc, inflation, wells fargo & co, bitcoin/usd coin metrics, world markets, s&p 500 index, banks, nasdaq composite, consumer prices, alphabet inc,
Source: https://www.cnbc.com/2024/01/11/stock-markets-bitcoins-badge-of-honor-.html