Markets Await Warsh Jackson Hole Speech as Oil Jumps, Tech Leads Equities Higher

Market Snapshot

S&P 500 (SPY) — 771.10 (+0.66%) [Twelve Data] · Nasdaq 100 (QQQ) — 721.11 (+1.37%) [Twelve Data] · Dow Jones (DIA) — 535.22 (+0.19%) [Twelve Data] · Bitcoin (BTC) — 79,339 (-0.05%) [Binance US] · Gold (GLD) — 422.60 (+0.30%) [Twelve Data] · US Oil (USO) — 130.01 (+2.09%) [Twelve Data]

Stock Markets

U.S. equities advanced Thursday, with technology shares driving the Nasdaq 100 up 1.37% to 721.11, while the S&P 500 gained 0.66% to 771.10 and the Dow Jones Industrial Average added 0.19% to 535.22, according to Twelve Data. The session unfolded against a backdrop of cautious optimism as investors positioned ahead of Federal Reserve Chairman Kevin Warsh's highly anticipated Jackson Hole address scheduled for Friday at 10 a.m. ET, according to the Wall Street Journal.

Crypto Markets

Bitcoin traded nearly flat at 79,339, down just 0.05%, while Ethereum gained 0.07% to 2,501.71, according to Binance US data. Solana edged up 0.16% to 104.89, while BNB and XRP both declined modestly by 0.21% and 0.16% respectively. The narrow trading ranges suggest consolidation near current levels as the market awaits fresh catalysts.

CoinDesk reported that Bitcoin was trading near $80,000 as stocks closed, with spot Bitcoin ETF inflows extending to eight straight days and August totals topping $3 billion. The sustained institutional demand through ETFs represents a significant shift from earlier in the year, when outflows had raised concerns about waning institutional interest. Analysis from Avenir Group and Glassnode indicates that a significant portion of spot Bitcoin ETF inflows are unhedged, according to Cointelegraph, pointing to genuine institutional conviction rather than arbitrage activity and reinforcing Bitcoin's evolution into a macro-driven financial asset.

CNBC noted that while spot Bitcoin ETFs have declined by billions of dollars in recent months, net inflows over the past year remain substantially higher, and ETF experts say the recent slowdown does not signal investor panic or a return to "crypto winter" conditions. Cointelegraph reported that a Bitcoin rally to $79,000 would bring the bulk of spot ETF holders close to breakeven on their positions, a psychological threshold that could influence near-term price action.

On the regulatory front, BlackRock's iShares Staked Ethereum Trust (ETHB) recorded $15.5 million in trading volume on its first day of trading Thursday, with nearly 593,000 shares changing hands on Nasdaq, according to CoinMarketCap. The fund holds 80% staked Ethereum and 20% Ethereum, with Coinbase serving as custodian. Separately, Ondo Finance asked the SEC to confirm it will not pursue enforcement action against a proposed model for recording securities entitlements on Ethereum, CoinMarketCap reported, while MegPrime launched a utility rewards program for rent and mortgage payments after receiving an SEC staff response confirming no recommended enforcement action, according to Reuters.

Markets Await Warsh Jackson Hole Speech as Oil Jumps, Tech Leads Equities Higher

Market Snapshot

Stock Markets

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Gold & Commodities

Oil

Crypto Markets

Macro & Global Drivers

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