Stocks and Crypto Surge: Bitcoin Hits $100,000 Milestone

Wall Street faced a subdued open as key indices hit records. Cryptocurrency surged with bitcoin surpassing $100,000, boosting crypto stocks. The market eyes upcoming employment data and Federal Reserve signals. American Airlines rose on a positive earnings forecast, while SentinelOne plunged on disappointing profits.

The U.S. stock market prepared for a muted opening on Thursday following record highs for major indices, spurred by strong performances from tech companies. Investors focused on anticipated employment data after comments signaled a slowdown in interest-rate cuts by the Federal Reserve.

Cryptocurrency stocks experienced a notable jump as bitcoin crossed the $100,000 threshold, driving gains in companies like Coinbase Global and MicroStrategy. This marked a significant milestone for the digital currency, impacting stocks related to blockchain and cryptocurrency.

Among airlines, American Airlines saw a substantial rise following an improved earnings forecast, while SentinelOne shares suffered a significant drop due to missed profit expectations. Meanwhile, Synopsys faced challenges with a decrease in projected revenue attributed partly to lower China sales.

(With inputs from agencies.)