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Global stock markets experienced a rally on Friday, with Wall Street achieving its largest monthly gain in a year, driven by post-election growth optimism. The S&P 500 rose 0.56%, marking a 5.14% increase for November, while the Nasdaq climbed 0.83%, securing a 6.2% monthly gain. Meanwhile, the dollar weakened amid expectations of stronger rates in Japan and easing in Europe.
Magdalena Martullo-Blocher, Vice-President of the SVP, advocates for a free trade agreement with the USA, explicitly excluding agricultural products. She expresses concerns about Germany's precarious situation and shares her views on subsidies for the steel industry.
Canadian Prime Minister Justin Trudeau arrived in Florida for a dinner with President-elect Donald Trump at Mar-a-Lago, amid looming tariff threats on Canadian imports. The unannounced visit follows Trump's recent announcement of pending tariffs affecting Canada, Mexico, and China.
Zimbabwe's Finance Minister announced a reduction in import duty on electric vehicles from 40% to 25%, effective January 1, 2025, to promote eco-friendly transportation. Additionally, a rebate on equipment for solar-powered EV charging stations will also be introduced, enhancing the feasibility of such projects in off-grid areas. However, the budget also includes new taxes, such as a 0.5% Fast Foods Tax, which has sparked public discontent amid an already high tax burden.
US stocks ended a shortened trading session higher, with the S&P 500 rising 0.6% to achieve its best month of the year, up 5.7% in November. Treasury yields fell, driven by optimism over President-elect Trump's trade policies and significant inflows into US equities. The Bloomberg Dollar Spot Index declined over 1%, while the yen advanced against the dollar amid expectations of a Bank of Japan rate hike.
Brazil's central bank is evaluating the recent decline of the real, questioning whether the foreign exchange market is functioning normally. Director Gabriel Galipolo indicated that intervention by the monetary authority would only occur if a dysfunctionality in the exchange rate is confirmed.
Stocks are on the rise with the S&P 500 up 0.34% in early trading, aiming for its best monthly gain since November 2023. The Nasdaq Composite is also performing well, on track for its strongest month since May with a 0.53% increase. Meanwhile, the MSCI's global stock index is 0.26% higher, indicating a positive trend across markets. Bitcoin has surged to $98,000.
Mexico’s President Claudia Sheinbaum is optimistic about avoiding the 25% tariffs threatened by US President-elect Donald Trump. After a phone conversation with Trump, she expressed confidence in reaching a collaborative agreement to address concerns over migration and drug trafficking, asserting that Mexico will not subordinate itself to the US.
The Bank of Russia announced that no emergency measures are necessary to stabilize the ruble, as existing policies are sufficient. The currency experienced a decline following US sanctions on over 50 lenders, including Gazprombank, which led to the central bank suspending foreign currency purchases under the budget rule, allowing the ruble to recover some losses amid speculation of a potential key rate increase.
Donald Trump's proposed 25% tariffs on imports from Mexico and Canada threaten major U.S. automakers, with GM, Ford, and Stellantis facing significant profit losses due to their reliance on cross-border supply chains. Analysts warn that tariffs on individual car parts could be even more damaging, potentially raising costs for consumers. Carmakers may need to increase U.S. production or cut costs to mitigate the impact, but the shift could be challenging, especially for European manufacturers with limited spare capacity.

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