Shares were up slightly today, with futures for the S&P 500 rising 0.2% and Dow Jones Industrial Average futures up 0.1%, according to the Associated Press. Bitcoin was trading at $104,601 early today, up 2.4% but down from an earlier high of $106,495.
The price of the cryptocurrency has surged since the election in November given U.S. President-elect Donald Trump’s bitcoin-friendly stance. Trump signaled a lighter regulatory approach to digital currencies with his choice of crypto advocate Paul Atkins to be the next chair of the Securities and Exchange Commission. Bitcoin was trading below $70,000 before the Nov. 5 election.
On Friday, major stock indexes on Wall Street drifted to a mixed finish, capping a rare bumpy week for the market. Wall Street’s rally has stalled amid mixed economic reports and ahead of the Federal Reserve’s last meeting of the year. The central bank is widely expected to cut interest rates for a third time since September when it meets this week.
In other dealings early Monday, U.S. benchmark crude oil lost 75 cents to $70.54 per barrel. Brent crude, the international standard, lost 61 cents to $73.48 per barrel.
The U.S. dollar fell to 153.86 Japanese yen from 153.71 yen.
