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Cryptocurrency News Articles
Tariffs on major US trading partners this week, which brings a crucial jobs report and key retail earnings.
Mar 03, 2025 at 04:24 pm
ES=F) climbed 0.2%. while those on the tech-heavy Nasdaq 100 (NQ=F) saw an 0.3% gain. Dow Jones Industrial Average futures (YM=F) were broadly flat. The major US indexes are coming off a volatile week and a losing month in February.
Major US stock futures traded nearly flat on Tuesday morning, ahead of new tariffs on Canada and Mexico and a crucial jobs report.
Earlier, President Donald Trump said on his social media platform that his administration would be creating a strategic cryptocurrency reserve, in addition to those for the dollar, oil and gold.
The major US indexes are coming off a volatile week and a month in February, with the S&P 500 (SP500) futures (ES=F) climbing 0.2%. while those on the tech-heavy Nasdaq 100 (NQ=F) saw an 0.3% gain. Dow Jones Industrial Average futures (YM=F) were broadly flat.
Investors will be facing more questions than answers this week as the tariff deadlines loom, the Federal Reserve's next meeting approaches, and the US economy faces the test of disproving investors' fears about growth.
Canada and Mexico are set to come into effect on Tuesday, with no indication that a planned March 4 implementation date will be pushed back again. While 25% duties are planned, Commerce Secretary reported by Howard Lutnick hinted that they could be lower by describing it as a "fluid situation." New tariffs on China are also due to come in on Tuesday.
Also in focus will be the latest jobs data, which is expected to show modest jobs growth, with the unemployment rate remaining at 4%.
Retail giants like Target (TGT) and Costco (COST) will also be presenting earnings on Tuesday, which will be monitored closely for what they reveal about consumers, after data last week showed their spending unexpectedly decreased in January by the most in four years.
The administration is planning to include Bitcoin, ether (ETH-USD), XRP (XRP-USD), solana (SOL-USD), and cardano (ADA-USD) — among other cryptocurrencies — in a new US strategic cryptocurrency reserve, according to a post by President Donald Trump on his social media platform.
The president's post led to a surge in prices of the mentioned tokens.
The move follows a January executive order from President Trump for the creation of a working group to evaluate the potential risks and benefits of digital assets.
The report adds that the administration is planning to allocate a portion of the country's foreign exchange reserves to cryptocurrencies, which could be used in macroeconomic and geopolitical strategies.
According to the report, the administration is considering including Bitcoin and ether as the primary assets in the reserve, given their market capitalization and liquidity.
The report also notes that the administration is in the process of selecting other tokens for inclusion in the reserve, taking into account factors such as the token's use case, the size of its community, and the level of innovation in its ecosystem.output: Major U.S. stock futures traded nearly flat on Tuesday morning, ahead of new tariffs on Canada and Mexico and a crucial jobs report.
Earlier, President Donald Trump said on his social media platform that his administration would be creating a strategic cryptocurrency reserve, in addition to those for the dollar, oil and gold.
The major U.S. indexes are coming off a volatile week and month in February, with the S&P 500 futures (ES=F) climbing 0.2%. while those on the tech-heavy Nasdaq 100 (NQ=F) saw an 0.3% gain. Dow Jones Industrial Average futures (YM=F) were broadly flat.
Investors will be facing more questions than answers this week as the tariff deadlines loom, the Federal Reserve’s next meeting approaches, and the U.S. economy faces the test of disproving investor fears about growth.
Canada and Mexico are set to come into effect on Tuesday, with no indication that a planned March 4 implementation date will be pushed back again. While 25% duties are planned, Commerce Secretary reported by described it as a “fluid situation.” New tariffs on China are also due to come in on Tuesday.
Also in focus will be the latest jobs data, which is expected to show modest jobs growth, with the unemployment remaining at 4%.
Retail giants like Target (TGT) and Costco (COST) will also be presenting earnings on Tuesday, which will be monitored closely for what they reveal about consumers, after data last week showed their spending unexpectedly fell in January by the most in four years.
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- Mar 04, 2025 at 01:05 am
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