MARKETS DAILY: Crypto Update | Risk Assets Are Up As the Bureau of Labor Statistics (BLS) Reports 339K Jobs Were Added to the U.S. Economy In May
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 2 June 2023
⏱️ 8 minutes
🧾️ Download transcript
Summary
Paradoxically, the unemployment rate rose significantly to 3.7% and the U.S. Commodity Future Trading Commission (CFTC) proposes new regulations to offset the risks of crypto investing.
Today's Stories:
U.S. Adds 339K Jobs in May, Blowing Through Estimates for 195K; Bitcoin Steady at $27K
U.S. Commodities Agency May Change Risk Rules to Consider Crypto
Bitcoin Miners Gain Support From Texas With Two Bills Passed, One Halted
Market Watch Links:
BRN00 | Brent Crude Oil Continuous Contract Overview | MarketWatch
Why Did Bitcoin’s Price Rise? BTC Hovers Over $27K as Investors Shrug Off Hot Jobs Data
This episode was hosted by Adam B. Levine, edited by Ryan Huntington, and Senior Producer is Michele Musso. All original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:58.2 | It's June 2nd, 2020, and this is Markets Daily from CoinDesk. |
| 1:00.3 | I'm Adam B. Levine here again with your Daily News Roundup. |
| 1:04.9 | On today, we're talking Bitcoin, a little bit about employment numbers, top headlines, and more. |
| 1:09.0 | And just a reminder, CoinDesk is a news source and does not provide investment advice. |
| 1:22.4 | Bitcoin, Ether, and other risk assets are up, in some cases significantly, in markets trending higher. |
| 1:23.8 | According to official statistics, the U.S. economy added 339,000 jobs in May, according to a new report out this morning from the Bureau of Labor Statistics. That's ahead of an upwardly revised 294,000 jobs in April and sharply higher than economists' forecasts of 195,000. It's worth noting that the size of this beat relative to expectations is essentially impossible in the world of statistics. |
| 1:44.8 | And paradoxically, the unemployment rate actually rose significantly to 3.7% versus 3.4% in April |
| 1:50.3 | and against estimates of 3.5%. All told, the numbers are super funky and we're going to dig into |
| 1:55.2 | them in depth on Monday, but we're running short of time today, so we'll have to wait until then. |
| 1:59.6 | But of course, the big news is that the U.S. Central Bank meets next on how to further |
| 2:03.0 | manipulate our money on June 13th through June 14th, and markets are divided on whether |
| 2:07.1 | the central bank will again boost rates, a sharp change from just one month ago, when |
... |
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