Introduction to financial markets
The European and American financial markets are at a crucial moment, waiting for the publication of the report on employment in the United States. This document, awaited with great interest, could reveal a significant slowdown in the pace of recruitment, the slowest in recent years. Economists predict an increase in payrolls of only 100,000 units, a figure that could influence investor decisions and market strategies
.
Impact of economic uncertainties
Economic uncertainties, amplified by events such as strikes and storms, could lead markets to look beyond the employment report. Gabriel Debach, market analyst at eToro, points out that the recent Halloween led to an abrupt correction, erasing the gains accumulated in the month of October. The S&P 500 index recorded a loss of 1.86%, marking the worst session since September 5, while the Nasdaq 100 closed down 2.44%. Even small-cap stocks, represented by the Russell 2000, fell by 1.63%, highlighting a climate of
general uncertainty.
Cryptocurrency performance
Contrary to the stock markets, the cryptocurrency sector has shown signs of resilience, with a market capitalization growth of 125.8 billion dollars, equal to an increase of 5.77%. Bitcoin, in particular, registered an increase of around 10%, reaching dominance levels of 60%, not seen since 2021. This rally also had a positive impact on MicroStrategy shares, which saw an increase of 45% in the month of October alone. MicroStrategy’s capitalization rose from 9.88 billion to 49.55 billion dollars, highlighting the strong link between the company and the performance of
Bitcoin.
Correlations between markets and cryptocurrencies
An interesting aspect to consider is the correlation between the Trump Media & Technology Group stock and the Dogecoin token. The DJT stock seems to follow the fluctuating odds of Trump winning, while Dogecoin moves in symbiosis, becoming an indicator of crypto support for the former president. Since Elon Musk declared his support for the Trump campaign, the correlation between DJT and Dogecoin has increased, highlighting a significant connection between Trump’s political rise and sentiment in the
cryptocurrency world.