Silver Surges Above $58 as Bitcoin Strategy Turmoil Intensifies: Market Movers for Monday

Market Overview: Wall Street began December with a slight decline in stocks after a strong November rally, influenced by rising global bond yields and cautious trading in commodities and cryptocurrencies. The S&P 500 and Nasdaq 100 fell by 0.1%, while the Dow dropped 0.4%.

Bond Yields and Currency Movements: U.S. Treasury yields rose, with the 10-year yield reaching 4.08%, while Japanese government bond yields surged to their highest since 2008. The U.S. dollar index fell for the fifth consecutive session as markets anticipated a Federal Reserve rate cut.

Energy and Commodity Trends: Energy stocks gained due to a rebound in crude prices, while silver prices soared past $58 per ounce, achieving over 100% year-to-date gains amid supply shortage fears. In contrast, cryptocurrencies, particularly Bitcoin, experienced significant declines.

MSTR Earnings Guidance: Strategy Inc. (MSTR), the largest corporate holder of Bitcoin, drastically reduced its 2025 earnings forecast and announced a share sale to build a cash reserve, leading to a 10% drop in its stock price and a significant loss from earlier in the year.