Stocks and cryptocurrencies rise as Fed likely to maintain interest rate levels

Stocks and cryptocurrencies trended higher on Friday despite the latest labour report showing the market to be resilient, suggesting that the Federal Reserve may keep current interest rates at their current levels for longer than expected. Initial jobless claims fell 4% last week from the previous week, according to the Labour Department. Initial jobless claims were slightly lower than expected last week despite a series of high-profile layoff announcements in the tech and media sectors. Revised consumer price index data released on Friday showed that prices rose less than initially reported in December and slightly more than previously expected in October and November.Interest rate futures prices showed about a 17% chance of a rate cut in March, down from about 40% last month, according to CME Group. Bitcoin (BTC) and ethereum (ETH) were in the green on Friday, extending the week's gains, with Bitcoin up 12 per cent and ethereum up 9 per cent.