And CRCL could get an additional boost if Congress passes the GENIUS Act – a bill aimed at creating a regulatory framework for stablecoins. Data from the Labor Department showed that initial jobless claims rose by 8,000 last week to 247,000, more than the 236,000 economists expected.

A US trade court decision that put at least a temporary pause on many of President Trump's wide-ranging tariffs isn't cooling Wall Street's fears over policy uncertainty. "It is not clear that this is a catalyst for a sustained new risk-on [trade],