On Wednesday, the stock market showed little change as investors held off in anticipation of upcoming U.S. inflation data and earnings reports.
While the S&P 500 experienced a slight increase of 0.1%, the Dow Jones Industrial Average saw a gain of 32 points, equivalent to a 0.1% rise. The Nasdaq Composite outperformed with a 0.2% increase.
However, Coinbase and Marathon Digital, both cryptocurrency exchanges, faced declines of more than 3% and nearly 5% respectively, due to a drop in bitcoin prices. This decline was prompted by an inaccurate statement posted on the U.S. Securities and Exchange Commission’s X account, erroneously claiming the approval of bitcoin ETFs.
Looking ahead, the release of the consumer price index report is scheduled for Thursday. According to economists surveyed by Dow Jones, it is predicted that the CPI increased by 3.2% year over year in December.
Source (CNBC)
