On Thursday, the major U.S. stock indices ended with minimal changes. Only the Philadelphia Semiconductor Index showed gains, boosted by TSMC's support. Meanwhile, XRP stands out in the crypto market due to rumors and legal advancements.
U.S. Stock Indices and Semiconductors
The three major U.S. stock indexes finished the day slightly down. The Philadelphia Semiconductor Index was the exception, closing up by 0.18% thanks to TSMC's influence.
Mixed U.S. Economic Data
The number of initial unemployment claims in the U.S. last week exceeded expectations, but the four-week moving average dropped to its lowest level since April, indicating a gradual decrease in layoffs. December's U.S. retail sales increased by 0.4% month-over-month, a slowdown from previous years. However, under high prices and borrowing costs, retail sales still exceeded the expected slowdown. Since the election, consumer and business confidence has been rising, though inflation expectations have also increased. It remains to be seen whether this higher confidence will lead to increased spending.
XRP's Rise and Trump's Crypto Plans
According to the New York Post, Trump is open to creating a crypto reserve focusing on tokens like USDC, SOL, and XRP. XRP hit a new high of around $3.38, its highest since January 2018, with SOL also increasing by 2.8% over 24 hours. Additionally, favorable developments in the Ripple-SEC legal battle, along with increasing institutional adoption of RippleNet, have contributed to XRP’s positive trend.
U.S. economic data presents a mixed outlook, and the crypto community is focused on both market leaders and potential innovations.
