Bitcoin hits $80.5K as US stocks rally on midterm election results
The main theme today is a broad move into risk assets, with crypto and equities both firmer. Bitcoin climbed toward 80,500 dollars as stocks rallied after midterm election results, and oil prices fell. That same risk appetite shows up in several of the stories we cover tonight.
Among crypto-linked companies, Riot and Hut 8 moved in opposite directions. Riot sold Bitcoin to help finance its expansion into artificial intelligence, and its shares jumped on a large AI lease deal. Hut 8, by contrast, reported lower revenue and higher costs before its major data center leases begin producing income, and its shares fell.
In the UK, the Bank of England is expected to raise interest rates today, which would be its first increase in more than three years. The FTSE 100 touched a three-month high, and UK government bond prices also rallied, pushing yields lower. The pound, meanwhile, struggled to extend its gains ahead of the decision, hovering near 1.35 against the US dollar.
US futures were mixed as traders waited for jobs data and corporate earnings. Dow Jones futures rose half a percent, while S&P 500 futures were roughly flat and Nasdaq 100 futures slipped. The Canadian dollar held near its September 16 high against the US dollar, with Friday's jobs data in focus.
In Australia, NextDC shares soared nearly 51 percent after Goodman Group and Digital Realty sought to buy a stake of up to 9.9 percent. Elsewhere in earnings, Snap shares fell more than 10 percent after missing on third-quarter revenue and daily active users.
In energy, African liquefied natural gas exports are projected to rise sharply as buyers move away from the Strait of Hormuz, with upstream investment seen near 40 billion dollars a year through 2030. Also notable: French manufacturing output rose for a second month in September, led by car production, though it remains below last year's level.
How many stories mention each market, and how many read bullish or bearish.
Bank of England expected to raise interest rates today; FTSE 100 hits three-month high – business live. Rolling coverage of the latest economic and financial news, as UK braces for first interest rate rise in over three years.
Macro & Markets: 10 selected of 32
British Pound struggles to extend gains ahead of BoE’s policy decision. The British Pound (GBP) faces pressure in an attempt to extend the rally above 1.3500 against the US Dollar (USD) on Thursday.
Stocks & Earnings: 10 selected of 15
SOCAR Bets $1.65 Billion on U.S. Shale Gas Boom. Azerbaijan’s state oil and gas company SOCAR has struck a deal with Comstock to acquire some of its assets in the Haynesville shale and an infrastructure.
Sectors & Themes: 10 selected of 16
Intel’s EMIB-T takes aim at TSMC’s CoWoS-L as AI chip packaging gets crowded. Intel's EMIB-T could reshape AI chip packaging by offering cost-effective alternatives, challenging TSMC's dominance and impacting market dynamics.
Analysts & Research: 10 selected of 27
France’s manufacturing rebound offers some relief, but no turning point yet. EUROPE: French manufacturing output rose for a second consecutive month in September, led by a sharp rebound in car production.
Compiled by the Borearis Research Team from public news and market quotes, with AI-assisted summaries. For information only, not investment advice. Trading involves risk.
