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Jim Cramer attributed the market rally to the conclusion of the election and the anticipated pro-business policies of President-elect Donald Trump. Major indexes hit record highs, with the Dow up 3.57% and Tesla soaring 14.75%, reflecting optimism for looser regulations. Cramer noted that while the market thrived under Biden, it remains to be seen how Trump's presidency will impact stock performance.
Jim Cramer predicts a resurgence in mergers and acquisitions under President Trump, contrasting the strict scrutiny seen during the Biden administration. He believes regional banks will particularly benefit, as they can grow through acquisitions or mergers to compete with larger national banks. Cramer also notes that while Big Tech may face less regulatory pressure, outcomes will depend on Trump's personal views towards these companies.
Asia-Pacific markets showed mixed results following Donald Trump's election victory, with Taiwan's economy minister indicating support for companies relocating production from China due to anticipated tariffs. The Philippines' GDP growth slowed to 5.2% in Q3, while China's exports surged 12.7% in October, despite a decline in imports. Electric vehicle stocks faced pressure, particularly after Trump's win, with analysts noting potential benefits for traditional automakers like Ford and GM under a less stringent regulatory environment.
Bitcoin has surged past $76,000, reaching a record high following Donald Trump's election victory, with investors eyeing the $80,000 mark. A new regulatory era for Bitcoin in the U.S. is anticipated, contingent on Trump's actions, including potential changes at the SEC. Investors are optimistic after a swift election result, which alleviates market uncertainty, while expectations grow for a possible interest rate cut by the Federal Reserve.
Oil prices steadied after a volatile session, with West Texas Intermediate trading below $72 a barrel and Brent near $75. Traders are assessing the implications of Donald Trump's election victory, which has strengthened the dollar and contributed to a rise in US crude inventories, now at their highest since August, with stockpiles increasing by 2.15 million barrels.
The co-CEO of Energy Transfer LP, Mackie McCrea, expressed optimism about Donald Trump's election, viewing it as a positive shift for the oil and gas sector. He emphasized the need for reasonable regulations that facilitate quicker project approvals, rather than burdensome processes that can take years and cost billions.
Large US tariffs on China could negatively impact Australia, according to a senior official from the Reserve Bank of Australia. Assistant Governor Christopher Kent expressed concerns about the uncertainty surrounding the size and application of these tariffs during a parliamentary panel in Canberra. Despite this, the Australian dollar has shown limited reaction to the recent political developments.
Japanese stock futures rose as the yen continued to weaken against the dollar following Donald Trump's presidential victory, which heightened expectations for economic growth policies that may keep US interest rates high. Nikkei 225 futures reached 40,105 on the Chicago Mercantile Exchange, up from the previous close of 39,480.67, while the yen fell by as much as 2%, benefiting exporters.
Jerome Powell's day begins with a routine Federal Reserve meeting expected to result in a quarter-point interest rate cut. However, he will soon face intense scrutiny regarding the implications of Donald Trump's potential return to the White House on economic growth, inflation, and borrowing costs.
The crypto industry is poised for significant regulatory changes as the anticipated departure of SEC Chair Gary Gensler looms. Gensler, known for his stringent enforcement actions against numerous crypto firms, including Coinbase and DRW Holdings, has spearheaded a robust crackdown on the digital-asset sector.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
market rallies as traders anticipate pro-business policies under trump
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