Stocks surge as Trump returns to presidency

Nasdaq Composite Daily Chart

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.

Accelerating Bitcoin adoption

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

Musk now says it’s ‘pointless’ to build a $25,000 Tesla for human drivers


Tesla Stock Daily Chart

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 edges up as US election jitters, Fed policy meeting loom

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

Wall Street struggles to gain as uncertainty around U.S. election grows


NASDAQ Composite Daily Chart

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.

Oil jumps nearly 3% after OPEC+ delays output hike

Oil prices climbed nearly 3% on OPEC+’s decision to delay plans to increase output by a month, while the market braced for a critical week in which Americans will elect a new president. Brent futures were up 2,8%.

The Oil-Dollar pair gained 1.1% in the last session after rising as much as 1.7% during the session. The Williams indicator indicates an overbought market.
Support: 68.966 | Resistance: 73.286