Stocks Bounce Back Fueled by Gains in Major Tech and Energy Companies

Market Performance: The S&P 500 is down -0.06%, while the Nasdaq 100 is up +0.11%, as mixed trading follows a recovery in major tech stocks and rising energy prices, despite concerns over a hawkish Fed and weak economic data from China.

Federal Reserve Outlook: The likelihood of a Fed rate cut in December has decreased to 48% from 70% due to hawkish comments from Fed officials, raising concerns about inflation and economic resilience.

Bitcoin and Cryptocurrency Stocks: Bitcoin has fallen over -2% to a 6.25-month low, continuing a five-week sell-off, which has negatively impacted cryptocurrency-related stocks, with significant outflows from Bitcoin ETFs.

Corporate Earnings and Economic Data: Q3 earnings for S&P 500 companies have exceeded forecasts, with a 14.6% increase, while the government shutdown has delayed the release of key economic reports, impacting market sentiment.