The performance of the three major usa stock indexes is mixed, $S&P 500 Index (.SPX.US)$ down 0.32%, $Nasdaq Composite Index (.IXIC.US)$ down 1.02%, $Dow Jones Industrial Average (.DJI.US)$ Rise by 0.16%.

Bitcoin broke the $98,000 level for the first time on Thursday, as investors anticipate that Trump will elevate the crypto industry to unprecedented heights during his second term as president.

According to reports, the team of president-elect Trump is considering establishing a position in the White House specifically responsible for cryptocurrency policy and is reviewing candidates for this role. This week, Trump's team has consulted with executives from the digital assets industry multiple times to discuss that the new position's holder will lead a small team and act as a liaison with Congress, the White House, and various cryptocurrency regulatory agencies.

According to sources, it is currently unclear whether this senior position in the White House will be established. According to US political circles, whoever takes up this position will be the 'crypto czar,' overseeing federal government policies and industry regulations.

If the reports are true, this would be the first dedicated crypto position ever established in the White House, highlighting the growing influence of the emerging crypto industry on the new US government.

Analysts predict that bitcoin will reach $0.1 million. IG Markets analyst Tony Sycamore stated, "Although bitcoin has currently entered the overbought zone, it is being drawn towards the $0.1 million level."

On Thursday, economic data showed that the number of initial jobless claims fell unexpectedly to the lowest level since April, indicating a solid job market.

The US Department of Labor stated on Thursday that for the week ending November 16, the seasonally adjusted number of initial jobless claims decreased by 6,000 to 213,000. The median forecast by economists surveyed was 220,000.

This data covers the Veterans Day holiday, which may introduce some volatility. Although the number of people applying for unemployment benefits surged in early October due to disruptions caused by hurricanes "Helen" and "Milton" as well as strikes by workers at boeing and another aerospace company, layoffs remain minimal, alleviating the impact of the slowdown in hiring on the labor market.

However, according to the data from the Labor Department on Thursday, the number of individuals continuing to claim unemployment benefits rose to 1.91 million in the week ending November 9, reaching a three-year high. This increase reflects a surge in numbers from Washington state, related to the secondary impacts of the resolved boeing strike.

Economists expect that after the weeks-long strike of boeing workers and recent hurricane disruptions affecting businesses in the southeastern states, the number of people claiming unemployment benefits will at least stabilize near current levels in the short term. Recently, there have been some high-profile layoff announcements, but there are almost no signs of widespread increases in layoffs.

The market is also paying attention to the developments in the Russia-Ukraine tension. Latest reports indicate that Russian forces have used long-range missiles for the first time. Prior to this, Ukraine had used American and British missiles to attack targets inside Russia this week, with Moscow repeatedly warning that this would be considered a significant escalation, thereby lowering the threshold for nuclear weapon use.

On Thursday, the market will continue to focus on speeches from Federal Reserve officials, including Cleveland Fed President Beth Hammack, Chicago Fed President Austan Goolsbee, and Kansas City Fed President Jeff Schmid.

Focus stocks

Most growth tech stocks fell. $Alphabet-C (GOOG.US)$Fall more than 5%. $NVIDIA (NVDA.US)$ dropping nearly 2%, $Meta Platforms (META.US)$ Fell over 1%.

Cryptocurrency concept stocks surged and then retreated, $Riot Platforms (RIOT.US)$ Fell over 8%, $CleanSpark (CLSK.US)$ Fell more than 7%, $Coinbase (COIN.US)$ falling over 6%, $MicroStrategy (MSTR.US)$Turned down,$MARA Holdings (MARA.US)$ Up more than 3%.

$NVIDIA (NVDA.US)$ After a rise and subsequent drop, the company's revenue in the third fiscal quarter was 35.082 billion USD, with net income increasing by 109% year-on-year.

$Alphabet-C (GOOG.US)$ Falling over 5%, the company's Chrome browser and Android business face the risk of being split by the usa antitrust department.

$Snowflake (SNOW.US)$Soaring over 30% after earnings, the third-quarter revenue was 0.942 billion USD, a year-on-year increase of 28.3%, exceeding market expectations of 0.898 billion USD.

$MicroStrategy (MSTR.US)$ Turning to a drop during the trading session, initially rising more than 12%. Citron Research noted that although we remain bullish on bitcoin, we have hedged with a short position in microstrategy.

$PDD Holdings (PDD.US)$Fell nearly 10%, third quarter revenue missed expectations.

Editor/Somer