The U.S. dollar slid to two-week lows against the yen after data showed private-sector jobs in the world’s largest economy contracted last month, boosting expectations the Federal Reserve will cut interest rates two more times this year.
Tesla CEO Elon Musk became the first person in history to achieve a net worth of nearly $500 billion, propelled by a rebound in the EV company’s shares and surging valuations of the tech entrepreneur’s other startups.
Inflows into Bitcoin exchange-traded funds totalled over $240 million in September, despite Bitcoin price slumping. Meanwhile, stablecoin growth isn’t slowing down. The total stablecoin market capitalization has surpassed $295 billion over the last month.
Top U.S. oil major Exxon Mobil said it will lay off 2,000 workers globally, particularly in Canada and across the European Union, as part of a long-term restructuring plan that will affect about 3% to 4% of the company’s workforce.
Wall Street’s three major indexes were close to flat after weak economic data and ahead of a widely expected U.S. government shutdown, which would delay key economic reports as well as heighten investor anxiety about the Fed’s interest rate policy outlook.
Dollar weakens after strong rally as US government shutdown looms. The dollar slid against yen and major currencies following a rally last week after stronger-than-expected U.S. economic data and ahead of a key nonfarm payrolls report that could offer further clues on the Federal Reserve’s policy path.
