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WhiteBIT, Europe's leading cryptocurrency exchange, achieved a record trading volume of $2.7 trillion in 2024, marking a 200% increase from the previous year. With a market capitalization of $38.9 billion, the platform has become the second-most visited crypto exchange, attracting over 1,300 institutional clients through innovative strategies and a robust technical infrastructure. The exchange is committed to security, holding top certifications and expanding its global reach, serving over 30 million users worldwide.
UBS strategists predict minimal change in the U.S. fiscal deficit under a second Trump administration, despite proposed tax cuts and spending programs. With the deficit exceeding 7.5% of GDP and a debt-to-GDP ratio over 120%, significant fiscal constraints are anticipated, including potential entitlement reforms and tax increases to stabilize debt levels. The challenges of high interest rates and narrow congressional majorities may further complicate expansive fiscal policies.
UBS strategists predict minimal change in the U.S. fiscal deficit under a second Trump administration, despite proposed tax cuts and spending programs. With the deficit exceeding 7.5% of GDP and a debt-to-GDP ratio over 120%, significant fiscal constraints are expected, limiting expansive policies. Achieving long-term debt sustainability will likely require structural reforms, higher growth, and potential tax increases.
UBS strategists predict minimal change in the U.S. fiscal deficit under a second Trump administration, despite proposed tax cuts and spending programs. With the deficit exceeding 7.5% of GDP and a debt-to-GDP ratio over 120%, significant fiscal constraints are anticipated, including potential entitlement reforms and tax increases to stabilize the economy. The challenges of high interest rates and narrow congressional majorities may further complicate expansive fiscal policies.
The Dow Jones Industrial Average attempted to recover from a significant 1,100-point drop, gaining 0.4% after a 2.6% decline. Micron's shares plummeted 17% following disappointing earnings guidance, while Nvidia rebounded 2.4% after five days of losses. Economic indicators showed a surprising 3.1% GDP growth and lower jobless claims, but market volatility persisted.
US stocks rebounded on Thursday after a sell-off triggered by a hawkish Federal Reserve outlook on interest rates. The Dow Jones Industrial Average rose over 1%, breaking a 10-session losing streak, while the S&P 500 and Nasdaq also gained more than 1%. Economic data showed third-quarter GDP growth at an annualized rate of 3.1% and a decrease in weekly unemployment claims to 220,000.
US stock futures indicated a rebound from a sell-off driven by a hawkish Federal Reserve outlook on interest rates. S&P 500 futures rose 0.5%, Nasdaq futures increased by 0.6%, and Dow futures also gained around 0.5%. The Dow is facing its longest losing streak in 50 years, with a potential 11th consecutive down day looming.
The Yacht Club de Monaco celebrated sporting and maritime excellence at the YCM Awards - UBS 2024 Trophy, honoring Graeme Peterson as Sailor of the Year and Océane Schroeder for her youth achievements. H.S.H. Prince Albert II emphasized the club's commitment to innovation and sustainability, highlighting its role in ocean preservation and the upcoming Monaco Energy Boat Challenge. The event also marked significant achievements, including two members reaching the America's Cup finals and the revival of the Admiral's Cup.
David Roche, strategist at Quantum Strategy, analyzes the Bank of Japan's recent decision to maintain unchanged interest rates. He also shares insights on the bank's outlook for 2025, highlighting the implications of this monetary policy stance.
UBS's global equity strategy team recommends investors shift from cyclical stocks to growth-oriented defensive stocks, citing high valuations and concerns over profitability amid a predicted global economic slowdown from 2024 to 2026. Defensive sectors like pharmaceuticals, software, and utilities are expected to thrive, with companies such as Microsoft and SAP highlighted for their strong growth potential and resilience during downturns.

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