Stock Market Update
August 11, 2025
UPGRADES
Bitcoin is a stone’s throw from its all-time high after an overnight rally that also propelled ether to levels not seen since 2021.
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The price of bitcoin was last higher by 1% at $119,782, according to Coin Metrics. Ether was down about 1.6% at $4,181, after surging on Sunday to its highest level since December 2021. On Friday, it broke $4,000 for the first time since December.
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The moves took place alongside a rise in U.S. equity futures earlier in the morning, as investors looked ahead to a batch of key inflation reports. Stocks are also trading on the cusp of all-time highs.
Shares of Coinbase gained more than 5%, Circle added 3% and Galaxy Digital jumped 8%.
Bitcoin proxy Strategy advanced more than 4%, and several miners saw gains of more than 3%, including Mara Holdings, Riot Platforms and Iren.
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Given how hot cryptocurrencies and stocks ran in the second quarter, many investors expected a healthy and strategic cooldown in August, which has historically proven a weak trading month for trading including in the crypto market.
DOWNGRADES
Longtime mall staple Claire’s has begun liquidating its stores after filing for bankruptcy for a second time in seven years.
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The tween accessories retailer was once a thriving retailer. From fiscal 2000 to fiscal 2007, the company grew its annual sales from $846 million to $1.48 billion. But by 2018 it had filed for bankruptcy protection for the first time. It was taken over by creditors Elliott Management Corporation and Monarch Alternative Capital, who eliminated $1.9 billion of debt.
Despite some sales momentum in 2021, attempts by Claire’s to modernize in an e-commerce world failed to re-energize the brand.
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Turnaround efforts over the past couple of years included expanding retail partnerships with companies such as Walgreens and Walmart, a loyalty program rollout, and investments in influencer-led content.
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But now the company is in need of saving once again.
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“Claire’s was not immune from the continued trend away from brick and mortar and more recent macroeconomic challenges, including higher interest rates, labor costs and, most recently, tariffs,” the company said in a bankruptcy declaration filed Wednesday.
NEWS
President Donald Trump is considering deploying up to 1,000 National Guard troops in Washington, D.C., as he complains about violent crime and homelessness in the capital city, NBC News reported.
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Trump, who has threatened to put Washington under federal control, is set to hold a news conference at 10 a.m. Monday at the White House.
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“Washington, D.C. will be LIBERATED today!” Trump wrote on Truth Social earlier Monday.
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“Crime, Savagery, Filth, and Scum will DISAPPEAR. I will, MAKE OUR CAPITAL GREAT AGAIN!” he wrote.
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Trump, in a social media post on Sunday, declared that “the Homeless” in D.C. will “have to move out, IMMEDIATELY,” while assuring that the government “will give you places to stay, but FAR from the Capital.”
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While Trump has complained about crime in the district, the incidence of violent crime has fallen to a 30-year low as of January, according to the U.S. Department of Justice.
The Trump administration has disputed that decline, however, pointing to a police union’s reported accusation that crime statistics in D.C. have been manipulated.