AiCoin Daily Report (March 13)

1. U.S. Initial Jobless Claims Drop to 213,000

Data from the U.S. Department of Labor show that for the week ending March 7, initial unemployment claims were 213,000, down from 214,000 the previous week and below market expectations of 215,000. For the week ending February 28, the continued claims number fell to 1.85 million, down from 1.87 million the week before. Earlier, the U.S. Department of Labor’s employment report indicated a decrease of 92,000 jobs last month, after adding 126,000 jobs in January. The initial claims data suggest limited layoffs among companies. AI analysis: The slight decline in initial claims indicates resilience in the labor market, with layoffs remaining relatively low. This data reinforces market confidence in employment stability and may influence Federal Reserve monetary policy decisions, reducing expectations for rate cuts. The decline in continued claims further confirms this trend, indicating that unemployment pressure has not significantly increased. Overall, these figures provide positive signals for economic recovery.

2. BlackRock’s Staked Ethereum ETF to Launch on NASDAQ

BlackRock’s staked Ethereum exchange-traded fund, iShares Staked Ethereum Trust ETF (ETHB), will be listed on NASDAQ this Thursday. ETHB holds spot ETH and stakes part of its holdings, combining exposure to Ethereum’s price and staking rewards, while offering the operational advantages of an ETF.

3. Spot Gold Price Reaches $5,190 per Ounce, Up 0.27% Intraday

4. White House May Oppose Powell’s Reappointment as Federal Reserve Acting Chair

Nick Timiraos, the Fed’s mouthpiece, stated that after Chair Powell’s term ends, the White House may oppose or challenge his appointment as acting chair.

5. U.S. Senate to Advance Cryptocurrency Market Structure Legislation

Senate Majority Leader John Thune said the Senate plans to advance cryptocurrency market structure legislation and licensing laws after completing debate on the “Save America Act” (voter ID legislation). The “Save America Act” is expected to be debated along party lines next week. Thune mentioned that senators are pushing a long-awaited crypto market structure bill and that bipartisan cooperation could lead to progress on several issues of mutual interest.

6. Iran Attacks U.S. Oil Tanker in the Strait of Hormuz

On March 12, Iran claimed to have attacked a U.S. oil tanker in the Strait of Hormuz.

7. JPMorgan Recommends Going Long on Energy Stocks, Short on Other Markets

JPMorgan suggests adopting an investment strategy of going long on energy stocks and short on other markets before the reopening of the Strait of Hormuz.

The above are the top news highlights from the past 24 hours. For faster news updates, please download AiCoin ().