• U.S. stocks took a downward turn earlier today, with investors focusing on disappointing labor market data and awaiting Friday’s jobs report to get an indication of the Federal Reserve’s policy.
• The S&P 500 and Nasdaq are showing signs of slight recovery on the day, although investors are divided about the likelihood of a rate hike in the upcoming meeting.
• Bitcoin is trading just above $28,000 at $28,179 with a loss of 0.18%, while some of the best cryptos to buy now include LHINU, KLAY, DLANCE, TWT, ECOTERRA, XRP, and TARO.
U.S. stocks took a downward turn earlier today, with investors focusing on disappointing labor market data and awaiting Friday’s jobs report to get an indication of the Federal Reserve’s policy.The S&P 500 and Nasdaq may break their three-week winning streaks at the end of the holiday-shortened week however they are showing signs of slight recovery on the day with gains 0f 0.25% and 0.55% respectively.Today’s economic data release pointed to the U.S. labor market grappling with the repercussions of several aggressive interest rate hikes by The Fed intended to temper inflation in economy which has led to questions over a potential economic slowdown or recession in coming months as well as further rate hikes by The Fed in near future causing volatility in markets currently reflected in CME’s FedWatch tool which showed 52% chance that target rate will remain between 4 .75%-5%.
Bitcoin Price Analysis
Bitcoin is trading just above significant level of $28000 at $28179 with a loss of 0 .18% so far today where volume has been steadily decreasing for past two weeks hence it seems likely that Bitcoin will make its next significant move soon despite uncertain future impact of economic conditions on cryptocurrency market .
Best Crypto Currencies To Buy Now
Given this ambiguous economic climate , some expert advised best cryptos to buy now include LHINU , KLAY , DLANCE , TWT , ECOTERRA , XRP & TARO based on various factors such as technology behind them , development progress achieved & community backing these assets have garnered .
Tom Hanlin , national investment strategist at US Bank Wealth Management in Minneapolis highlighted concerns arising from recent string weak economic data & investor opinion divided over likelihood rate hike during upcoming meeting while few even anticipating rate cuts by year-end .
Crypto Total Market Capitalization
The crypto total market capitalization is currently trading at 1 .19 trillion which is relatively steady compared to financial markets facing uncertain times due to actions taken by Federal Reserve & Labor Department’s employment report scheduled for March release giving participants weekend digest date before trading resumes Monday .