US jobs surprise, oil surges, and Bitcoin holds firm

David Morrison

SENIOR MARKET ANALYST

13 Jan 2025 - 2min Read

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The first weeks of 2025 have already brought key market developments and emerging opportunities. December’s Non-Farm Payrolls (NFP) report stunned analysts, showing a rise of 256,000 jobs—far exceeding the forecasted 164,000. This pushed the unemployment rate to 4.1% and sent bond yields soaring. With the Federal Reserve now expected to hold off on rate cuts until September, markets are rapidly adjusting to the shifting economic landscape.

Oil powers up

Crude oil surged over 4% last week, climbing above $76 per barrel. The question remains: Is this a bullish breakout or simply an overbought momentum shift? In the coming sessions, the energy sector will be closely watched for potential pullbacks or continued strength.

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Bitcoin’s steady rise

Bitcoin remains resilient, holding above $91K. However, the key test lies in whether it can gather enough momentum to break past the $100K threshold. Many traders are eyeing crypto closely to see if 2025 will mark the next major breakout year for digital assets.

Gold emerges strong amid market uncertainty

Gold continues to display bullish indicators, with upside momentum gaining traction. While past rallies have struggled to maintain momentum, many investors view gold as a safe haven in 2025’s uncertain climate. The precious metal remains a key asset to watch in the coming weeks.

Key economic events to watch

This week’s economic calendar is packed with market-moving data:

  • Tuesday: Australia’s CPI, the US ISM Services PMI, and Eurozone CPI updates.
  • Wednesday: The US CPI report, Crude Oil Inventories, and the Empire State Manufacturing Index.
  • Friday: Chinese GDP, UK Retail Sales, and US Housing Starts.

These data points will provide crucial insights into global economic trends and market sentiment.

Key earnings reports this week

Corporate earnings will also take centre stage, with major financial institutions set to report their latest results. Investors will be looking for insights into economic resilience and market momentum.

Monday

  • No significant earnings.

Tuesday

  • Fulton Financial
  • Applied Digital
  • Nicolet Bankshares

Wednesday

  • JP Morgan Chase
  • Wells Fargo
  • Goldman Sachs
  • BlackRock
  • Citigroup
  • Kinder Morgan
  • Bank of New York Mellon
  • Synovus Financial
  • Home Bancshares
  • Texas Capital
  • HB Fuller
  • Concentrix

Thursday

  • UnitedHealth
  • Bank of America
  • Morgan Stanley
  • Infosys
  • PNC Financial
  • US Bancorp
  • M&T Bank
  • JB Hunt
  • First Horizon

Friday

  • Texas Instruments
  • Charles Schwab
  • Truist Financial
  • Schlumberger
  • Fastenal
  • Humana
  • United Airlines
  • Brown & Brown
  • State Street

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