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As a result of the surprise jobs data, traditional markets oscillated between small gains and slight losses on Friday, with the S&P and Nasdaq closing the day in the red, down 0.12% and 0.18% respectively, while the Dow saw a slight gain of 0.10%. Moving forward, “Bulls have the slight near-term technical advantage,” according to Wyckoff, following this week's price action which “saw a bullish upside “breakout” on the daily chart to suggest a market bottom is in place and that prices can now move still higher in the near term.”
— Crypto Tony December 2, 2022 The interest rate hikes by the Federal Reserve may have begun to have an effect according to analysts at CoinDCX, who suggested that “Positive reports on both the CPI and PPI meant that the FED’s aggressive hawkish monetary policy showcased throughout this year was finally making tangible progress in controlling inflation.
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