The market is waiting for clearer signals.

On Wednesday, the US stock market opened with gains but faced resistance, with the S&P 500 remaining flat, the Nasdaq down slightly by 0.2%, and the Dow Jones up modestly by 0.3%. The head of global equities at Wells Fargo Investment Institute believes that US stocks lack momentum for a breakout at recent highs, and investors need more definitive information and clear guidance from the Federal Reserve regarding future policies.

The direct factor suppressing the market comes from employment data. In December, the US private sector added 41,000 jobs, well below the expected 47,000. This result shifts investors' focus to the upcoming non-farm payroll report on Friday — a key indicator for assessing the health of the labor market.

Commodity markets are also adjusting. Spot gold fell below $4,430 per ounce, down 1.44% intraday, reflecting a re-pricing of economic outlooks.

In the crypto asset sector, interesting liquidity features are emerging. A well-known asset management firm transferred 567 BTC to a major exchange, worth approximately $52.2 million. Meanwhile, the issuer of USDC burned 174 million stablecoins on the Ethereum network. These actions, one in and one out, suggest institutions are adjusting their positions amid market volatility.

Overall, the market is in a data-sensitive phase, awaiting more economic indicators to confirm macro trends.