When everyone in America is focused on turkey and football, someone still has to keep the markets running. Thursday delivered one of those delightfully sleepy sessions where Wall Street goes dark for Thanksgiving and the rest of the world trades in low gear—except for crypto, which never sleeps and apparently never takes holidays.
Bitcoin (BTC) climbed 1.1% to $91,500 by midday in New York, working on its fourth gain in five sessions. That's a welcome bounce after a brutal weeks-long slide that dragged prices down to $80,000. But let's keep some perspective here: Bitcoin is still down nearly 17% this month, making November its worst performance since February. Ethereum (ETH) slipped 0.3% to $3,000 after five straight days of gains, while Solana (SOL) dipped 0.7% to $141.90. Ethereum has had an even rougher month, shedding more than 20%.
Over in Europe, equity markets engaged in some modest profit-taking. The STOXX 50 slipped 0.2% and the STOXX 600 edged down 0.1%, taking a breather after three consecutive sessions of gains, including a solid push higher on Wednesday.
Puma SE (OTCPK: PUMSY) was the day's big mover, jumping more than 18% on reports that China's Anta Sports is exploring a possible takeover of the German sportswear brand. That's the kind of headline that makes investors forget about the broader market drift.
Fresh minutes from the European Central Bank offered a glimpse into policymakers' thinking. They appear comfortable with the current policy stance, pointing to firm economic conditions and inflation gradually aligning with target—basically the setup that supports keeping rates steady for now.
Geopolitics stayed in the spotlight. U.S. envoy Richard Witkoff is scheduled to visit Moscow next week for discussions tied to Washington's proposal for a Russia-Ukraine peace framework. President Vladimir Putin said Thursday that Russia is open to serious negotiations and that President Donald Trump's plan could serve as the basis for future talks. Markets always perk up when peace talks enter the conversation.
In Asia, Japan's Nikkei rose another 1%, riding optimism over additional government stimulus. But Brazil stole the show. The IBOVESPA climbed 1.7% to a fresh record, extending its winning streak to a fourth month and pushing year-to-date gains to an impressive 32%.
The iShares MSCI Brazil ETF (EWZ)—boosted further by a stronger real—has surged 47% over the same period. That's the kind of performance that makes investors wonder if they've been paying enough attention to Latin America.
On the currency front, the euro held near $1.16, while the British pound steadied at $1.3240 after a multi-day climb. The South Korean won led the day's movers with a 0.6% rise, followed by the New Zealand dollar at 0.5%.
