Jobless Claims Beat, Oil Surges on Geopolitical Tensions, TradFi Embraces Crypto

1. US initial jobless claims came in lower than expected at 208k (vs 217k forecast), with CME FedWatch showing an 87.7% probability of the Fed holding rates in July, signaling a strong labor market.
2. Crude oil futures rose 1% due to Red Sea threats and a gas field shutdown in Iraq, while gold and silver continued their sharp decline, with gold falling below $4000/oz.
3. E*TRADE launched spot trading for Bitcoin, Ethereum, and Solana, and VISA introduced a stablecoin platform, indicating broader crypto adoption by major financial institutions.