Today has been an unusual day for equities, as we’ve typically come to expect some late-afternoon strength. However, that’s not the case right now. The S&P 500 has edged down slightly by 0.15%, with the Nasdaq dipping by 0.2% as well.
While these shifts might seem minor, it feels like the market is in a bit of a holding pattern, possibly awaiting the release of the non-farm payroll numbers. Adding to the day’s shifting fortunes, bitcoin has seen a drop, slipping below $98K after reaching $103K earlier.
There’s a hint of profit-taking in the air, potentially driven by concerns that hawkish signals from the Federal Reserve might be on the horizon. Investors seem to be treading cautiously, mindful of the potential impact that tomorrow’s updates might bring.
