News

The report released on Wednesday showed that although the Federal Reserve's favorite inflation indicator met expectations, data for October rebounded from September. This data supports the Fed's more cautious stance on interest rate cuts, but market expectations for a December rate cut were not suppressed. According to monitoring, the three major US stock indices collectively closed lower on Wednesday, ending their recent upward trend. The Dow fell 0.31%, and the S&P 500 index fell 0.38%, ending seven consecutive days of gains; most large-cap tech stocks declined. US stocks will be closed for one day on Thursday and will close three hours early on Friday. Traders seem to have taken profits from this year's well-performing large-cap tech stocks, leading to a 0.60% drop in Nasdaq among the three major indices. Earlier this week, Bitcoin experienced a decline due to some investors taking profits when prices approached historical milestones. On Wednesday, the cryptocurrency market collectively welcomed a strong rebound with Bitcoin rising nearly 4.4% within nearly 24 hours and Ethereum surging over 10%. This boosted crypto concept stocks across the board with MicroStrategy up by 9.94% and Coinbase up by 6.03%. In terms of foreign exchange commodities, as Thanksgiving Eve was quiet in markets which led to weak dollar trends falling about approximately .9% touching two-week lows while non-US currencies generally rose; news of Sunday’s OPEC+ meeting possibly delaying production increase plans supported oil prices with WTI crude closing slightly lower on Wednesday while Brent roughly remained flat; gold prices rose on Wednesday but after data showed stagnation in inflation progress suppressing interest rate cut expectations later narrowed its gains.

Pump Science recently issued a statement on the safety incident, stating: "Safety is of utmost importance. The team's plan includes consulting and competitive auditing for Pump Science applications and smart contracts. The remaining time this year will be focused on URO and RIF, initiating mouse experiments before launching new tokens. In addition, no new tokens will be launched on pump.fun. After a comprehensive audit is completed, new tokens will be launched on Pump Science next year."