Elon Musk stands to benefit greatly from his ties with U.S. President-elect Donald Trump after the Tesla CEO became one of Trump’s most important supporters during the 2024 campaign. Tesla shares jumped 14% on Wednesday after Trump defeated Vice President Kamala Harri.
U.S. stocks soared to record highs after Republican Donald Trump won the 2024 U.S. presidential election in a stunning comeback four years after he was voted out of the White House. The Dow Industrials, S&P 500 and Nasdaq Composite all hit record highs.
U.S. President-elect Donald Trump’s impending return to the White House appears to put the Federal Reserve on a slower and shallower path for interest rate cuts, with a slew of new policies embraced by the Republican leader poised to juice the economy and stall, or reverse, the slowdown in inflation.
List of companies, including Robinhood, Galaxy Digital, Kraken and Paxos, have formed a consortium supporting the latest stablecoin pegged to the United States dollar. Paxos shared that the new “open network” was designed to accelerate the adoption and use of stablecoins worldwide.
The Bitcoin-Dollar pair skyrocketed 3.2% in the last session. The ROC is giving a positive signal.
Support: 65317 | Resistance: 74488
In April, Tesla’s stock dropped when news surfaced that it had scrapped plans for a $25,000 EV. Elon Musk quickly responded, calling the report “a lie”, and shares regained some ground. However, Musk now suggests that a low-cost EV is “pointless” without full autonomy.
Gold prices edged up, as U.S. election uncertainty loomed with markets pricing in chances of a contested result and political tensions, while investors also kept a close tab on the Federal Reserve policy meeting later this week.
The Gold-Dollar pair traded sideways in the last session. The ROC is giving a negative signal.
Support: 2714.6 | Resistance: 2763.2
U.S. stock indexes slipped in choppy trading, as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve is likely to cut its benchmark policy rate.
