Dollar drops against peers after weaker-than-expected jobs report

US Dollar Index Daily Chart

The U.S. dollar fell sharply against major peers to end last week after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve interest rate cut.

U.S. job growth weakened sharply in August and the unemployment rate increased to nearly a four-year high of 4.3%, confirming that labor market conditions were softening and sealing the case for a Federal Reserve interest rate cut later this month.

Robinhood to join S&P 500 in watershed moment for US fintech sector

Robinhood Markets will replace casino operator Caesars Entertainment in the benchmark S&P 500, marking a pivotal moment for the financial technology sector as the retail trading platform joins the ranks of the most influential U.S. companies.

Tether holds talks to invest across gold supply chain

Stablecoin issuer Tether, the creator of USDt, has begun discussions with mining and investment groups about deploying capital across the gold supply chain. The move would further diversify Tether’s portfolio risk.

Whales lose millions on Trump-linked WLFI’s 40% dip

Official Trump Daily Chart

Big crypto investors, or whales, were suffering millions in losses on the Trump family-linked World Liberty Financial token, which continued to decline despite a proposal to reduce the circulating supply.

Wall Street indexes rise as data keeps rate cut views intact

NASDAQ Composite Daily Chart

The three major U.S. stock indexes were higher as labor market data did not change expectations for an interest rate cut by the Federal Reserve this month. Shares of chip company Broadcom, considered a key artificial intelligence player, were up 1.2% ahead of its quarterly results