U.S. stocks closed slightly lower on Monday with the entire market eyeing the Federal Reserve's decision on Wednesday.
The S&P 500 fell 24.89 points (-0.36%) and closed at 6845.51.
The Nasdaq dropped only 32 points (-0.14%).
The Dow Jones lost 215 points (-0.45%).
The 10-year bond yield rose to 4.22%, putting pressure on tech and growth, but energy and banks held up.
The market sees an 89% chance of a 25 basis point cut on Wednesday, which would be the last expected cut in 2025.
Those interested in crypto should note: every time the Fed has cut by 25 basis points from 2023 until now, Bitcoin has risen +12% within two weeks.
This means if the cut happens on Wednesday, the 98-100 thousand dollar range will be a very strong target before the end of the year.
Who's buying and waiting for this rebound?
BTC
90,410.14
-1.68%
$USDT