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Jim Cramer indicated that market fears regarding President-elect Trump"s potential tariff increases may not significantly impact stocks, as historical data shows minimal effects until tariffs are enacted. He highlighted that the market rebounded swiftly when the Federal Reserve halted interest rate hikes, suggesting that a bullish cycle could mitigate the impact of aggressive tariffs. Cramer emphasized that while trade wars can be detrimental in a bearish market, the current bullish trend offers some reassurance.
Trump"s promises of a federal workforce overhaul could significantly impact Washington, D.C."s economy, which relies heavily on government jobs. Local leaders express concern over potential job relocations and cuts, fearing a downturn in economic activity as downtown office vacancies remain high. Despite past efforts to reduce federal presence, the number of federal employees in the region has actually increased during Trump"s previous term.
H&R Block and Intuit stocks plummeted following reports that the Trump transition team is exploring a free tax-filing app, potentially competing with existing services. Intuit"s shares fell 5%, while H&R Block dropped 8%, marking their worst days in years. The discussions come amid ongoing scrutiny of both companies for misleading marketing practices related to free filing options.
President-elect Donald Trump will attend the SpaceX Starship launch in Boca Chica, Texas, on November 16, 2024, alongside CEO Elon Musk and Sen. Ted Cruz. This event marks the sixth launch of the Starship, designed for reusable space travel, as Musk"s close ties with Trump grow, highlighted by his role in co-leading a new government efficiency department. SpaceX has faced scrutiny for environmental violations and noise concerns related to its launches, while the company continues to receive significant federal funding for its projects.
President Donald Trump is expected to nominate Howard Lutnick, CEO of Cantor Fitzgerald, as Commerce Secretary, according to sources. Lutnick, a key adviser during Trump"s transition, has been a vocal supporter of the administration"s agenda, particularly regarding tariffs. His nomination comes amid speculation about other cabinet positions, including Treasury Secretary, for which he was also considered a candidate.
Bluesky has surpassed 20 million users since its February 2023 launch, driven by features like video attachments and direct messaging, while maintaining a free service model. The platform is attracting users seeking a less toxic social media experience compared to X, especially amid rising dissatisfaction with X"s management and content. As Bluesky continues to grow, it positions itself as a refuge for those disillusioned with the current state of social media.
Elon Musk is soliciting health data, including MRIs and CT scans, from X users to enhance Grok, an AI chatbot aimed at providing medical diagnoses. While users are sharing sensitive information, concerns about privacy and the unclear use of this data persist, especially given X"s contradictory privacy policies. Musk"s initiative could potentially improve AI capabilities and attract more users to the platform amid declining advertising revenues.
U.S. Treasury yields fell as investors awaited economic data and the appointment of a new Treasury Secretary by President-elect Trump. The 10-year yield dropped to 4.3570%, while the 2-year yield decreased to 4.2126%. Market reactions hinge on the Secretary"s experience, with potential candidates including Scott Bessent and Howard Lutnick.
Two U.S. senators have requested investigations by the Pentagon and DOJ into alleged calls between Elon Musk and Vladimir Putin, citing national security concerns. They question Musk's reliability as a government contractor and the risks of SpaceX's monopoly on critical space capabilities. NASA Administrator Bill Nelson also expressed the need for an investigation, emphasizing the potential implications for national security.
Elon Musk"s SpaceX successfully launched India"s GSAT-N2 communication satellite, weighing 4,700 kg, from Cape Canaveral on November 19, 2024. The satellite, operated by ISRO"s commercial arm NSIL, is designed to enhance broadband services and in-flight connectivity in the Indian region. Featuring multiple spot beams and Ka-band transponders, GSAT-N2 aims to support a large subscriber base with improved system throughput.
Elon Musk
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
market resilience amid potential trump tariff increases says jim cramer
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01:15 20.11.2024
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