US and global markets showed a cautious tone as traders weighed a rebound in Bitcoin, resilient technology shares and ongoing uncertainty over Federal Reserve policy. Major equity benchmarks moved in a narrow range, while bond yields and the US dollar stabilized.
US stocks traded near flat to modestly higher. The S&P 500 oscillated around unchanged, while the NASDAQ 100 gained 0.2% to 0.4%, supported by large technology names. The Dow Jones Industrial Average also rose close to 0.2%, reflecting selective buying rather than broad risk-on momentum.
Smaller companies showed limited direction. The Russell 2000 Index was little changed, signalling continued hesitation toward riskier small-cap shares. Mid-cap stocks, which outperformed other size groups in November, continued to show relative resilience as their technology components fell less than small-cap peers.
The cryptocurrency market helped stabilize risk sentiment. Bitcoin reversed part of its earlier sharp decline and climbed 5% to 6% back above the $90,000 level. The move followed a drop of more than 5% on Monday and a wider slide of almost 30% from its early-October record, which had triggered large liquidations in leveraged crypto positions. Ether also advanced, rising more than 7%.
Crypto-linked volatility earlier spilled into equities, especially speculative technology names and retail-heavy trades. However, the latest rebound eased some immediate pressure. Traders noted that exchange-traded funds and highly leveraged strategies still face elevated risk after significant losses during the recent drop.
US technology shares tied to artificial intelligence spending again supported the broader market. AI chip leader NVIDIA rose nearly 2%, while Oracle recovered from previous session losses. AI infrastructure provider Credo Technology surged about 17% after strong earnings, and Astera Labs gained around 6%, extending the AI hardware and connectivity theme.
Investors also monitored corporate-specific moves. Boeing shares jumped after the company outlined expectations for a return to positive free cash flow in 2026.
MongoDB rallied sharply after stronger-than-expected results and an upgraded outlook, while Janux Therapeutics tumbled following trial data that disappointed investors.
Government bond markets showed modest moves as traders refined expectations for the next Federal Reserve decision. The 10-year US Treasury yield held near 4.09%, while the 2-year yield slipped to about 3.51%, reflecting growing conviction in a near-term rate cut. The 30-year yield edged higher to around 4.75%. In Europe, Germany’s 10-year yield hovered near 2.75%, and the UK’s 10-year yield held around 4.48%.
Traders now assign a high probability to a Fed rate cut at the December 10 meeting. Market-based measures, including futures pricing, show expectations above 80% for an easing move. Strategists argue that strong demand for short-dated Treasuries and softer economic data support this view, even as officials signal internal disagreement about the appropriate path for policy from here.
Analysts at Barclays note that implied and realized S&P 500 moves around Fed decisions have shrunk since early 2023. Actual index reactions around recent meetings have stayed close to zero, suggesting that monetary policy exerts less immediate influence on day-to-day equity volatility than in previous cycles.
Michael Burry described Tesla as “ridiculously overvalued” and warned of further dilution after the proposed $1 trillion pay package.
Vultr announced plans for a 50-megawatt cluster of AMD AI processors in Ohio to offer lower-cost AI infrastructure.
Warner Bros. Discovery received a second round of bids, including a mostly cash offer from Netflix, in an ongoing asset auction.
Crypto exchange Kraken agreed to acquire a tokenized assets platform, expanding its presence in blockchain-based securities trading.
Cloudflare rose after Barclays initiated coverage with an overweight rating and a $235 price target.
MongoDB reported results that beat expectations and raised its full-year forecast, sending the stock sharply higher.
Laurentian Bank agreed to sell itself to Fairstone Bank for C$1.9 billion while exiting retail banking to focus on commercial lending.
TotalEnergies emerged as the leading bidder for a stake in Galp’s major offshore Namibia oil discovery.
Vale and Glencore considered a joint copper project in Canada to increase exposure to expected long-term copper shortages.
Samsung Electronics introduced its first trifold smartphone, highlighting its focus on foldable devices.
Taiwanese prosecutors charged Tokyo Electron in a case involving the alleged theft of TSMC trade secrets.
The lack of a correlation between cryptocurrency volatility and the strength of technology stocks has prompted investors to change their positions. The upcoming announcement by the Federal Reserve is going to affect market conditions over the next few weeks.
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