Asian Stocks Rise, Bitcoin Trades Above $90,000: Markets Wrap

Global transactions valued at $10 billion or more reached a record 63, driven by deregulation under former President Trump and diminishing trade war concerns, leading to a surge in mergers and acquisitions on Wall Street.

The Federal Reserve's latest report indicates a struggling job market and moderate inflation as of November, highlighting the challenges faced by central bank officials in their upcoming decisions. This report reflects ongoing economic pressures that complicate the Fed's dual mandate of managing inflation and unemployment.

Kevin Hassett, a prominent economic adviser to President Trump, has reportedly emerged as the leading candidate to become the next chair of the Federal Reserve, a position that has significant implications for U.S. monetary policy. This development comes amid ongoing scrutiny of the Fed's current leadership and its policies.

Bitcoin has surged above $90,000 for the first time in nearly a week, recovering from a prolonged selloff that lasted over a month. This increase comes amid a broader rally in risk assets and a decrease in market volatility, allowing traders to regain confidence and push prices higher.

US stocks advanced for the fourth consecutive day on Wednesday, buoyed by rising expectations for an interest-rate cut at the Federal Reserve's upcoming meeting, which has contributed to a positive market sentiment ahead of the Thanksgiving break.

U.S. stock futures indicated a higher open as global markets rose, following broad gains on Wall Street. This positive momentum is attributed to delayed economic data that has increased expectations for a potential interest rate cut by the Federal Reserve next month.

President Donald Trump has expressed dissatisfaction with the Federal Reserve's current monetary policy, particularly criticizing Fed Chair Jerome Powell for not aligning with his demands to lower interest rates significantly. This tension highlights the ongoing struggle between the White House and the independent central bank regarding economic management.

Wall Street concluded the trading session on a positive note as expectations for a Federal Reserve interest rate cut in December gained momentum. This optimism was reflected in the performance of major indices, particularly following a rebound in technology stocks after a period of volatility.