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House Speaker Mike Johnson suggested that Republicans might seek to repeal the CHIPS and Science Act, which has been credited with significant investments and job creation in the semiconductor industry. He quickly retracted this statement, indicating a desire to streamline the legislation instead. The comments drew sharp criticism from Democrats, who warned that such actions could jeopardize thousands of jobs and economic growth, particularly in regions reliant on manufacturing.
Next week, the market will focus on the presidential election and the Federal Reserve's interest rate decision, overshadowing earnings reports from companies like Super Micro, Arm, Qualcomm, and CVS. Cramer anticipates strong results from Berkshire Hathaway and highlights the significance of the Fed's meeting, which may lead to a rate cut. Key earnings on Tuesday include Super Micro and Ferrari, while CVS and Arm report on Wednesday, with the Fed's decision expected on Thursday.
Black business leaders are mobilizing to support Vice President Kamala Harris in her bid for the presidency, emphasizing her commitment to economic policies that benefit Black men and communities. During a recent call, influential figures highlighted the importance of engaging Black male voters, who are seen as pivotal in the upcoming election. Harris has gained traction among younger Black men, with recent polls indicating a rise in support, as she actively seeks to earn their votes through targeted outreach and policy proposals.
In the 2024 US presidential election, Donald Trump will face Kamala Harris, with both candidates presenting differing approaches to the crypto industry. Trump aims to establish the US as the "crypto capital of the world," proposing to dismiss SEC head Gary Gensler and create a presidential crypto advisory board. In contrast, Harris focuses on consumer protection and clear regulations while supporting digital asset development, appealing to both supporters and skeptics of the crypto sector.
Exxon CEO Darren Woods stated that the outcome of the upcoming U.S. presidential election will not impact oil production levels in the short to medium term. He expressed skepticism about the effectiveness of the "Drill, baby, drill" mantra, emphasizing that U.S. shale production is driven by market dynamics rather than political agendas. While there are untapped resources in areas like the Gulf of Mexico due to federal permitting, the majority of shale resources are on private land and regulated at the state level.
A record number of wealthy Americans are planning to leave the U.S. amid fears of political and social unrest following the election. Demand for second passports and long-term residencies abroad has surged, with many citing concerns over violence, taxation, and political climate as primary motivators. Popular destinations include European countries like Portugal and Malta, as well as Caribbean nations like Antigua, with the process for obtaining citizenship becoming increasingly competitive and lengthy.
US job creation fell short in October, with only 12,000 new non-farm jobs added, significantly below expectations, partly due to the impacts of hurricanes and aviation strikes. The unemployment rate held steady at 4.1%. As the Federal Reserve prepares for a potential interest rate cut next Thursday, all eyes are on the closely contested presidential race between Donald Trump and Kamala Harris, which could heighten market volatility.
Concerns about U.S. fiscal policy under potential leadership changes are heightening uncertainty for Brazil's economic outlook. Analysts warn that without significant fiscal adjustments, inflation pressures may persist, leading to higher interest rates and a challenging environment for Brazilian assets. The expectation is for the Selic rate to remain elevated, with discussions of cuts unlikely in 2025 if current fiscal disarray continues.
UBS has emerged as the largest Swiss donor in the US election campaign, contributing $1.5 million to the Republican Party and Donald Trump, while also donating $1.45 million to the Democrats, including Kamala Harris. This strategic funding approach positions UBS favorably for various election outcomes, reflecting its significant involvement alongside other Swiss companies like Roche and Novartis. Overall, UBS is spending around $3 million on the election, aiming to gain access to future decision-makers.
Donald Trump's stock, linked to his Truth Social platform, has surged dramatically as investors bet on his election victory, with prices soaring from $12.15 to over $52 in just two weeks. This speculative trading reflects the intense election sentiment, with experts warning that a defeat could lead to a significant drop in value. As election day approaches, the stock's movements are closely tied to public perception of Trump's chances, making it a focal point for gamblers and investors alike.
Kamala Harris
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
house speaker walks back comments on potential repeal of chips act
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trump stock surges as investors bet on election victory
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