India's trade deficit reached a record $37.84 billion in November, driven by high gold imports, raising concerns about the economy. The stock market has faced significant pressure, with the Sensex dropping 2,000 points over three days, influenced by a weak rupee and foreign capital outflows amid cautious market sentiment ahead of the US Federal Reserve's policy meeting.
Dogecoin must experience extraordinary price increases to turn modest investments into million-dollar fortunes. For instance, a $1,000 investment would require DOGE to reach $400 per token, a 99,900% increase, while $5,000 and $10,000 investments would need prices of $80 and $40, respectively. Despite historical surges, analysts remain skeptical about achieving such heights in the near future, with expectations of $40 by June 2040 and $80 by December 2040, but doubt a $400 price before 2050.
The $USUAL token is set for spot listing on Binance on December 18th, following its launch on Binance Launchpool on November 15, 2024. With a total supply of 495 million coins and a current circulating supply of 378.39 million, the listing is expected to increase circulating supply by 12.37%. Investors can anticipate an initial price surge of 20% to 50%, followed by volatility in the first 48 hours. If $USUAL successfully integrates into the DeFi space, it may see steady growth in the mid-term, with long-term potential driven by increased adoption and utility in decentralized finance applications.
Bitcoin spot ETFs in the U.S. have surpassed gold ETFs in assets under management for the first time, marking a significant shift in investor sentiment towards digital assets. As of December 16, 2024, Bitcoin ETFs reached over $129 billion, while gold ETFs were just under that threshold. This rapid growth follows the launch of Bitcoin ETFs in January 2024, highlighting Bitcoin's emerging status as "digital gold" amid increasing demand for decentralized investments. Leading the Bitcoin ETF market is BlackRock’s iShares Bitcoin Trust (IBIT), which has nearly $60 billion in assets.
Michael Zinn, a senior portfolio manager at UBS Global Wealth Management, noted that the Santa Claus rally is experiencing a pause after a significant post-election surge, describing it as "indigestion." He highlighted concerns over the market's narrow breadth, with only 40% of S&P stocks above their 50-day moving average, despite rising indexes. However, he remains optimistic about long-term prospects due to factors like AI advancements and economic growth, even as recent retail sales data indicates strong consumer demand.
Michael Zinn, a senior portfolio manager at UBS Global Wealth Management, noted that the Santa Claus rally is experiencing a pause after a significant post-election surge, describing it as "indigestion." He highlighted concerns over the market's narrow breadth, with only 40% of S&P stocks above their 50-day moving average, despite rising indexes. However, Zinn remains optimistic about long-term prospects due to factors like AI advancements and economic growth, supported by strong consumer demand reflected in November retail sales hitting an 11-month high.
The FCA has proposed the Private Intermittent Securities and Capital Exchange System (PISCES), a new platform for trading shares in private companies, aimed at enhancing investment opportunities and funding for growth. This initiative responds to the increasing demand for easier trading in private markets and is part of broader reforms to boost UK capital market competitiveness. The FCA is consulting on risk warnings to ensure informed investment decisions as it collaborates with industry stakeholders to establish a supportive regulatory framework.
Heinz Huber is stepping down as CEO of Raiffeisen after approximately six years to become Chairman of Graubündner Kantonalbank. Christian Poerschke, the former deputy and CFO, will temporarily take over management of Raiffeisen starting in January.
Analysts predict significant growth for Ethereum and Cardano as the crypto market heats up towards 2025, with Ethereum showing a 30.57% increase over the past month and Cardano surging by 189.82% in six months. XYZVerse (XYZ), a new memecoin uniting sports fans, aims for remarkable growth, boasting a presale plan promising up to 9,900% returns. With upcoming listings and a solid foundation, XYZ is positioned to capitalize on the rising demand for meme coins in the crypto space.
The UBS ETF - MSCI World Socially Responsible ETF A experienced a decline of 0.17% during the STU session, closing at EUR 0.28. The ETF's value reached a low of EUR 164.64, matching its starting point for the day, while trading volume increased to 24,069 shares. Notably, it hit a 52-week low of EUR 129.10 on January 5, 2024.
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