Strategy’s STRC preferred stock rose 1.1% to $95.09, nearing its $100 par value, as Bitcoin stabilized above $60,000 and Michael Saylor emphasized protecting its 12% dividend. Strive’s SATA preferred stock also rebounded to $99 after a June decline. Meanwhile, SpaceX shares surged 9% following stock lockup expirations, and markets broadly rose amid a weaker-than-expected U.S. nonfarm payrolls report.
The rebound in preferred stocks coincided with Bitcoin’s consolidation above $65,000, though analysts noted muted price action amid ongoing political and regulatory uncertainties. James Thorne of Wellington-Altus cautioned that Bitcoin’s performance remains sensitive to legislative developments, though he acknowledged the asset’s resilience against broader macroeconomic pressures.
SpaceX’s 9% share increase followed the expiration of lockup periods for insiders, unlocking liquidity for institutional investors. Broader equity markets gained traction as the U.S. nonfarm payrolls report revealed 23,000 job losses in July, below expectations, prompting a reevaluation of Federal Reserve policy priorities.
Gold and silver prices rose 2.5% and 3.5%, respectively, as investors sought safe-haven assets amid mixed signals from the labor market. The U.S. dollar index fell to 99.5, while the 10-year Treasury yield climbed to 4.64%, raising concerns among strategists like Jurrien Timmer of Fidelity, who warned against yields exceeding 4.5%.
The CME FedWatch tool indicated a 56% probability of a September rate pause, reflecting shifting Fed focus from inflation to labor market weakness. Bank of America’s analysis highlighted a 9.7 bull-and-bear reading, suggesting market uncertainty over the trajectory of monetary policy.
MetaMask’s Agent Wallet, which integrates AI-driven trading features, saw increased interest as investors explored automated strategies amid market volatility. However, the long-term impact of the nonfarm payrolls report on Fed decisions and broader economic trends remains unclear.
Written by Oliver Grant
Markets Desk
