Market Holds Breath for ISM PMI and JOLTS Jobs Data

The market is holding its breath as it prepares for two key economic reports due out on September 1. The ISM PMI and JOLTS jobs data will give investors a glimpse into the state of manufacturing and labor markets, potentially influencing Treasury yields and the value of Bitcoin.

The current probability of a rate increase in September is around 60%, with hawkish comments from Kevin Warsh adding to the anticipation. A stronger PMI and resilient vacancies could lead to higher Treasury yields and a stronger dollar, putting pressure on Bitcoin and high-beta crypto equities like COIN.

Circle Internet Group's CRCL stock has been gaining momentum, rising 9.73% to $95.62 after recovering from an early decline. COIN shares have also seen a boost, climbing 5.81% to $189.02 as trading momentum improved.