Macro

The US dollar index jumped significantly following the Labor Department's report indicating an increase of 165,000 jobs last month, which far exceeded economists' forecasts. As a result, the probability of a rate hike from the Federal Reserve climbed to nearly 80% for next month. Moreover, Federal Reserve officials voiced concerns about ongoing inflation, leading to declines for other currencies such as the euro and sterling against the dollar.

US stock market today: Wall Street is seeing a split recovery on Friday after Thursday's AI-led sell-off. The Nasdaq has jumped 1.02%, while the Dow Jones has fallen 0.90% and the S&P 500 gained 0.29%. Nvidia, AMD, Intel, Broadcom and Micron were among the chipmakers recording gains in early trading. Nvidia's rebound has been particularly important because of its large weight in the broader market.

Energy inflation has prompted UK tightening, while any pressure on Bitcoin depends on financing conditions and investor demand. Read the full story on CryptoSlate Understand the crypto stories that matter and what to watch next. Get The Catalyst in your inbox

The Bank of England raised its key interest rates for the first time after three years as higher energy prices push up UK inflation.

Most analysts are predicting an increase from 3.75% to 4%, the first increase in more than three years.

Wall Street staged a sharp overnight reversal as Dow futures surged over 800 points after Democrats won control of Congress, easing fears of political uncertainty and policy risks.

US stock futures rose while oil prices retreated. European shares fell. Japan's Nikkei hit its lowest level since May. South Korean stocks closed higher.

Small businesses are calling on the government to cut spending, take practical steps to reduce cost pressures and boost productivity, as they were rocked by another interest rate hike.

Mortgage borrowers are likely to feel the sting of the RBA's latest cash rate rise, but savers and overseas travellers will also see the effects.

India's ecommerce market is expected to reach $90 billion in 2026, marking its fastest growth in five years. Investors, for their part, are putting more weight on resilience than on growth.