The global stock market started 2025 on a weak note, with all three major U.S. indices falling, U.S. bond yields, and the dollar index continuing to rise. Tesla's annual vehicle deliveries for 2024 saw their first decline, causing its stock to drop by 6%, having fallen 20% from the high before Christmas. Bitcoin, however, has been slowly climbing, moving above 96K, with traders adopting a cautious stance before Trump's inauguration.

U.S. Stock Indices All Down, U.S. Bond Yields and Dollar Index Continue to Rise

The number of Americans filing for unemployment benefits dropped to an eight-month low. Data released by the Labor Department on Thursday showed initial claims for unemployment insurance at 211,000, down from a revised 220,000 the previous week. U.S. bond yields and the dollar index continued to rise, with all three major U.S. stock indices closing in the red, and Tesla plummeting by over 6%.

Tesla Drops 6%, Falling More Than 20% from Pre-Christmas High

Tesla announced yesterday that its total vehicle deliveries for the fourth quarter of 2024 were 495,570, with the annual figure at 1.79 million vehicles, marking the first decline in over a decade. CEO Elon Musk warned investors of a slowdown in growth this year but promised improvement later. Tesla has invested in humanoid robots and chip development, planning to produce dedicated Robotaxis and launch a driverless ride-hailing service by 2027, though most of its profits still come from car sales. Tesla's stock fell 6.08% to close at $379.28 per share, down more than 20% from its peak of $479 before Christmas.

Bitcoin Slowly Climbs, Traders Cautious Before Trump's Inauguration

Bitcoin has been slowly rising at the start of the year, trading above 97K at the time of writing, which might be attributed to traders' caution before Trump's inauguration on January 20. According to Coinglass data, the funding rates for Bitcoin perpetual futures on major exchanges over the last 8 hours have been around 0.01%, remaining within a neutral range. The lack of significant increase in funding rates suggests that while there is some optimism, traders might continue to be cautious ahead of key events like Trump's inauguration, looking for opportunities to establish long positions.

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