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Bitcoin at $63,500 as Nasdaq claws back big early loss
U.S. stocks closed the session mixed, with the DJIA — boosted by big gains in the healthcare sector — jumping 1.7%, while the S&P 500 added 0.4%. Down more than 1% early in the day, the Nasdaq ended lower by just 0.1% as a number of AI-related favorites suffered sizable losses.
As stocks closed, bitcoin (BTC) was trading at $63,500, up about $2,000 from its overnight low, but still down nearly 3% over the past 24 hours.
A number of crypto-related stocks posted small gains, but all remained sharply lower on the week.
Tomorrow brings key economic data: the U.S jobs report for May. Markets in the last eight weeks have gone from forecasting rate cuts this year to pricing in rate hikes. May's employment data is likely to either reinforce that outlook or perhaps begin to put in place a reassessment.
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