6 PM After-Hours Flash: Industrial Production MoM | Industrial Production YoY | Retail Sales MoM | Bitcoin recovery stalls after Fed holds inter
Bitcoin is giving back ground fast... sliding under 75 thousand dollars after the Fed held rates steady and flagged fresh uncertainty from the Middle East conflict.
The FOMC kept policy on hold, but minutes revealed policymakers are watching inflation risks and the war in Iran more closely than expected. That tone spooked crypto traders who had been betting on easier money. Bitcoin broke below 75k in Asian trading as European futures turned negative.
On the data front, U.S. industrial production is showing real strength. The monthly figure came in at 0.2 percent, matching estimates, while the year-over-year jump hit 3.8 percent... a sharp rebound from negative 2.2 percent last time. Retail sales data was flat, holding at zero month-over-month.
Meanwhile, Jack Mallers’ Twenty One Capital is surging after Tether, its majority holder, proposed a three-way merger that could reshape the Bitcoin treasury space.
Markets are digesting whether this Fed caution derails the risk rally heading into tomorrow’s SPX open.
Russell Clark's Morning Outlook is coming up at 8:05. I am your VixShield news reporter.