Mr Zennn

Saudi Arabia’s and Kuwait’s sovereign wealth funds have each placed orders of between $1 billion and $5 billion in SpaceX’s initial public offering.

According to Jin10, the reported orders were submitted as part of the SpaceX IPO.

The US economy added 172,000 jobs in May — more than double Wall Street's forecast of 85,000 — delivering the strongest labor market surprise of the year and propelling bets that the Federal Reserve will raise interest rates before year-end. Bitcoin remained under pressure following the release, trading below $62,000 as markets rapidly repriced the monetary policy outlook in a direction that removes one of the last remaining macro tailwinds for crypto.The numbers: a blowout across every measureThe Bureau of Labor Statistics report exceeded expectations on multiple dimensions. The headline 172,000 payrolls figure was more than double Bloomberg's consensus estimate. Prior months were revised sharply higher — March revised up to 214,000 and April to 179,000, adding a combined 93,000 jobs to the historical record. The unemployment rate held steady at 4.3%, in line with forecasts. Year-on-year wage growth slowed slightly from 3.6% in April to 3.4% in May — but that figure now sits below the latest inflation reading of 3.8%, meaning real wages are shrinking even as nominal hiring accelerates.Hiring gains were led by the leisure and hospitality sector, which added 70,000 jobs — partly attributed by some analysts to seasonal factors and preparation for the upcoming World Cup being hosted across the US, Canada, and Mexico. Local government and healthcare also posted sharp gains. The main drag was a 9,000 job loss in air transportation, which the BLS attributed primarily to the Spirit Airlines bankruptcy."This is a blowout jobs report," said Olu Sonola, head of US economics at Fitch Ratings. "Three straight months of payroll gains, along with the upside surprise in job openings earlier this week, tell us the labour market is on firmer footing.""The US labour market is finally turning the corner," added Dario Perkins at TS Lombard.Market reaction: yields jump, stocks fall, Bitcoin lowerThe market reaction was immediate and broad-based. Treasury yields surged, with the two-year yield — which moves most directly with rate expectations — jumping 9 basis points to 4.13%. The 10-year yield climbed to 4.52%. The dollar strengthened as traders pulled forward their rate hike timeline.US equity markets fell. The S&P 500 dropped 0.9% in morning Wall Street trading. The Nasdaq Composite fell 1.6% — sensitive to higher borrowing costs because of the elevated valuations carried by its technology-heavy constituents. Bitcoin traded below $62,000 at approximately $61,900, extending a decline that has taken it from $83,000 in early May to its lowest levels since March.Oil edged modestly lower at $94 per barrel. Gold slid 1.1% to approximately $4,400 per ounce — an unusual move for a traditional inflation hedge, suggesting the immediate market reaction prioritized the higher-yields narrative over the inflation protection argument.The Fed: rate hike by December now pricedBefore Friday's report, a Fed rate hike was not fully priced until April 2027. The jobs data moved that timeline forward dramatically — traders are now pricing a 25 basis point hike by December 2026. That repricing reflects the cumulative weight of the data: April CPI at 3.8% year-over-year, PPI posting its largest annual increase since 2022, ISM Manufacturing and Services PMI both above expectations this week, and now a labor market that is clearly stabilizing after a sluggish 2025 that averaged just 10,000 jobs added per month.The Fed's next meeting later this month will be the first under new chairman Kevin Warsh, who has indicated a preference for lower rates. Friday's data makes that preference significantly harder to act on. "Providing the labour market does not suffer a dramatic summer jobs scare, it looks increasingly likely that the FOMC will enact a couple of insurance hikes later this year," said Stephen Brown at Capital Economics.Economists also expect the Fed may drop language in its policy statements signaling a bias toward lowering rates — a shift that would represent a formal abandonment of the easing narrative that had supported risk asset valuations through much of the first quarter.A note of caution on the headlineNot all analysts read the report as a decisive turning point. Adam Schickling, senior economist at Vanguard, urged caution. "Today's strong jobs number looks more like a seasonal surge than a turning point for the labour market. The labour market still appears resilient, but not as if it's reaccelerating." The leisure and hospitality surge — which accounted for 70,000 of the 172,000 jobs — may reflect World Cup-related hiring rather than broad-based structural recovery, he argued.The slowing in real wage growth — with nominal wages at 3.4% below the 3.8% inflation rate — also introduces a consumer spending concern that could moderate economic momentum in the months ahead, potentially limiting how far the Fed can push rates before growth deteriorates.What it means for Bitcoin and cryptoFor Bitcoin, the jobs report is the latest addition to a stack of macro headwinds that has now grown formidable. A Fed rate hike priced by December removes the monetary easing narrative that had been one of the foundational bull arguments for Bitcoin's recovery from February's $60,000 low. Higher rates increase the opportunity cost of holding non-yielding assets, strengthen the dollar, and compress the liquidity conditions that historically support speculative asset rallies.The February $60,000 low — which Bitcoin is now rapidly approaching at current levels near $61,900 — carries additional significance. Monarq Asset Management's CIO Sam Gaer warned earlier this week that a clean break below $60,000 could trigger a decline toward $45,000 under the four-year Bitcoin cycle framework. Friday's jobs data has made the path to testing that level shorter and the macro justification for defending it weaker.The S&P 500's ten-week winning streak is also now at risk as equity markets absorb the rate hike repricing — potentially narrowing the record divergence between stocks and Bitcoin, but not in the direction crypto bulls had been hoping for.