Stocks Little Changed as Investors Await Economic Signals Amid Rising Rates; Bitcoin Nears $72K Before Supply-Limiting Event
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Stocks were little changed Monday as investors awaited economic data and Fed comments that could provide clues on interest rates. The Nasdaq ticked up, while the S&P 500 and Dow dipped slightly.
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Treasury yields continued rising, with the 10-year at 4.43%, on signals from the Fed that rates may stay higher for longer amid persistent inflation.
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Bitcoin neared $72,000, about 10% above last week's lows, ahead of a highly anticipated "halving event" that should restrict new supply.
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JPMorgan CEO Jamie Dimon said in a letter that the odds of a "soft landing" for the economy seem "a lot lower" than markets expect, and rates may rise above 8%.
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The total solar eclipse Monday could provide a $6 billion boost to the U.S. economy, according to an analysis, as millions flock to the path of totality.