Bitcoin

<p>On August 30, 2024, Wall Street welcomed the latest news regarding inflation with optimism. Stock markets opened higher, buoyed by the release of an inflation indicator in line with expectations, which bolstered hopes of a Fed rate cut in September.</p> 
<h2 id="h-satisfactory-results-on-wall-street">Satisfactory Results on Wall Street!</h2> 
<p>On Wall Street, the consumer price index measured by expenditures (PCE), excluding food and energy prices, showed an annual increase of 2.6%, stable from the previous month. This stability, similar <a href="https://www.cointribune.com/en/the-bitcoin-market-is-on-pause-is-it-the-calm-before-the-storm/" target="_blank" rel="noreferrer noopener">to what Bitcoin is currently displaying</a>, reassured investors who feared an unexpected rise in inflation. As a result, futures contracts on major US indices rose from 0.1% to 0.6%, signaling a green opening session.</p>
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<p>On the corporate side, several financial results were well received. Marvell Technology, a chip designer, saw its stock rise by 7.87%, thanks to results surpassing market projections, largely due to demand for artificial intelligence (AI). Dell also reported figures exceeding analysts’ forecasts and raised its annual targets, causing its stock to climb 2.64%.</p> 
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<h2 id="h-a-rate-cut-considered-by-the-fed-in-september">A Rate Cut Considered by the Fed in September?</h2> 
<p>Expectations of a <a href="https://www.cointribune.com/en/bitcoin-explodes-as-the-fed-may-cut-rates-in-september/" target="_blank" rel="noreferrer noopener">rate cut by the Fed in September</a> were bolstered by this data. The central bank will hold its meeting on September 17 and 18, and stock markets are anticipating a rate reduction. The CME Group’s FedWatch barometer indicates a 69.5% probability for a 25-basis point cut and a 30.5% probability for a 50-basis point cut.</p> 
<p>Good news on inflation brought a wind of optimism to Wall Street. The stability of the PCE index and positive financial results from some companies have strengthened the hope of a rate cut by the Fed, which could support economic growth in the coming months. In addition to the Fed rates, Wall Street could also <a href="https://www.cointribune.com/en/wall-street-could-propel-bitcoin-into-a-true-store-of-value/" target="_blank" rel="noreferrer noopener">propel Bitcoin as a true store of value</a>, according to experts.</p>

Stock Market: This Wall Street Index Encourages The Fed To Cut Rates!

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