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Cryptocurrencies Bitcoin, XRP, and Shiba Inu Are Rebounding After the Fed's Hawkish Pivot

Cryptocurrencies rebounded this morning after sustaining heavy losses this week following the Federal Reserve's final meeting of the year on Wednesday. The meeting included a cut of 25 basis points in interest rates and more hawkish rhetoric from Fed chair Jerome Powell that seemed to catch investors off guard. Bitcoin (CRYPTO: BTC), a bellwether for the sector, had fallen as much as 10% yesterday but was only down less than 1% from late afternoon yesterday.

Upstream jobs in Texas oil slipped in Nov, industry group says

Upstream oil companies wound down hiring in November, the Texas Independent Producers and Royalty Owners Association (TIPRO) said on Friday, ending five straight months of job growth. Hiring in the upstream sector, which includes activities related to drilling and producing oil, can serve as an indicator of the health of the oil and gas industry. TIPRO represents nearly 3,000 independent producers and royalty owners across Texas, home to the prolific Permian Basin which accounts for just under half of total U.S. crude production, according to the Energy Information Administration.

Gold Advances as US Inflation Data Reaffirms Rate Cut Path

(Bloomberg) -- Gold climbed after the Federal Reserve’s favored US inflation gauge provided reassurance for policymakers looking to continue lowering borrowing costs in 2025.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalThe US central bank