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According to Golden Ten Data, ChainCatcher reported that Nvidia (NVDA.O) released strong earnings results and a jobs report confirming that the economic fundamentals remain robust, but optimism in the US stock market failed to persist. Traders pointed out that concerns over AI revenue and profits have resurfaced, and the decline in cryptocurrencies to their lowest levels since April has also impacted the stock market. Chris Murphy, co-head of derivatives strategy at Susquehanna International, stated that investors are beginning to question the drivers of the year-end rally. CTA positions remain fragile and could trigger automatic liquidation mechanisms in quantitative funds, leading to additional sell-offs.

According to ChainCatcher, citing Golden Ten Data, Federal Reserve's Goolsbee hinted that he is uneasy about another rate cut at the December meeting. He stated that the decline in inflation "seems to have stalled" and warned of the possibility of moving in the wrong direction. An increasing number of policymakers are concerned about cutting rates too much while inflation remains high. The Consumer Price Index rose by 3% in September, still above the Federal Reserve's 2% target. Goolsbee pointed out that although the economy is strong, he is uneasy about a significant rate cut in advance.