Stock futures are rising as markets aim to recover from a significant sell-off triggered by the Federal Reserve's cautious outlook on interest rate cuts. The Dow fell 2.6% over ten consecutive sessions, while major tech stocks like Nvidia and Tesla saw gains. Meanwhile, Micron's shares dropped 11% after disappointing results, and Bitcoin traded at $102,000, recovering from a low of $99,000.
Donald Trump delivered a goodwill speech at the Washington Crypto Policy Summit, emphasizing the U.S. government's commitment to becoming a global leader in cryptocurrency. He assured attendees that the U.S. aims to retain its crypto business domestically, rather than allowing it to shift to countries like China. The summit featured participation from Congress members and industry leaders, focusing on crucial legislative areas such as decentralized infrastructure, stablecoins, and DeFi. A presentation highlighted that 70% of crypto investors considered candidates' digital asset policies in the last election, with 25% of voters owning crypto.
Stock futures are set to rise as investors brace for the Federal Reserve's upcoming interest rate decision, with the Dow Jones and S&P 500 up 0.2% and 0.3%, respectively. Bitcoin reached a record high of around $104,000, buoyed by optimism surrounding the new administration. Major tech stocks showed gains, while Super Micro Computer faced a 12% drop ahead of its removal from the Nasdaq 100.
Bitcoin recently surpassed $100,000 amid expectations of relaxed crypto regulations, as Trump prepares to return to the White House and appoints David Sacks as the AI and crypto czar. Sacks will guide policy to enhance America's competitiveness in these sectors while Paul Atkins is nominated to lead the SEC, aiming for clearer regulations in the crypto space. Trump's administration plans to repeal Biden's AI executive order, promoting innovation and positioning the U.S. as a global leader in cryptocurrency.
Mark Cuban recently appeared on Jon Stewart's podcast, discussing the impact of crypto on the 2024 election and urging the Harris campaign to engage young male voters. He emphasized that the administration's stance on digital assets could significantly influence voter turnout. During the conversation, Stewart admitted his limited knowledge of blockchain, prompting Cuban to explain the fundamentals of cryptocurrencies, likening Bitcoin to digital gold and discussing regulatory challenges.
Donald Trump has been named Time Magazine's Person of the Year for the second time, recognized for his significant political influence and "comeback of historic proportions." This accolade may bolster his pro-crypto stance, as he aims to position the U.S. as the "crypto capital of the planet" and integrate Bitcoin into national financial strategy. Trump's administration promises to reshape crypto regulation favorably, with the recent appointment of Paul Atkins as SEC Chair seen as a move towards a more supportive regulatory environment for the industry.
President-elect Donald Trump celebrated being named Time magazine's 2024 Person of the Year by ringing the opening bell at the New York Stock Exchange, marking a significant comeback from his previous presidency. In an interview, he discussed his campaign's impact, plans for pardoning Capitol riot participants, and intentions for mass deportations, asserting he would utilize military support despite legal restrictions. Trump emphasized his influence on American politics and expressed skepticism towards international leaders, including Israeli Prime Minister Netanyahu.
Donald Trump, named Time's 2024 Person of the Year, is set to ring the opening bell at the New York Stock Exchange, marking a significant comeback from his conviction as the first former president. In an interview, he discussed his campaign's impact, plans for pardons related to the Capitol riot, and intentions for mass deportations, asserting he will operate within legal limits.
Stock futures indicate a lower open for major U.S. indexes as the market pulls back from record highs, with the S&P 500 and Nasdaq down 0.2% and 0.4%, respectively. Large-cap tech stocks mostly declined in premarket trading, while Adobe shares fell 11% due to a disappointing revenue outlook despite strong quarterly results. Investors await key economic data, including jobless claims and wholesale inflation, which could impact the Federal Reserve's interest rate decisions.
President-elect Donald Trump rang the opening bell at the New York Stock Exchange after being named Time's 2024 Person of the Year, marking his second time receiving the honor. In his remarks, he highlighted his administration's plans, including expedited permits for major projects and a commitment to mass deportations. Trump also expressed skepticism about trusting others, including Israeli Prime Minister Netanyahu, while emphasizing his approach to reshaping American politics.
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