Wall Street closed with modest gains today. The market's reacting to fresh economic data that came in just right—not too hot, not too cold. Consumer spending? Moderate. Inflation numbers? Holding steady.

This combo's keeping traders confident about a potential Fed rate cut coming next week. Tech stocks and communication services led the charge upward, which makes sense given how rate-sensitive these sectors are. Lower borrowing costs could fuel more growth in these spaces.

For crypto watchers, this matters. Fed policy shifts often ripple through risk assets, and digital currencies haven't been immune to that correlation lately.