Bitcoin stood on the verge of $90,000 on Tuesday, riding a wave of euphoria since the election of Donald Trump as U.S. president on expectations his administration will be crypto friendly. It is surging along with Elon Musk's automaker Tesla, which is up nearly 40% since voting results rolled in as investors figure Trump's friends and interests will do well while he is in office. "Obviously (it's) a clear Trump trade as he is so supportive of the industry, and this can only mean more demand both for crypto stocks as well as the currencies themselves," said Nick Twidale, chief market analyst at ATFX Global in Sydney.
Trump could dial back some proposed policies to avoid upsetting a roaring stock market, Wharton professor Jeremy Siegel says
Trump is the "most pro-stock market president" in US history and will want to continue to appease investors, according to top economist Jeremy Siegel.
Mexico economy chief suggests possible tariff retaliation against US
Mexico's Economy Minister Marcelo Ebrard suggested on Monday that the Mexican government could retaliate with its own tariffs on U.S. imports if the incoming Trump administration slaps tariffs on Mexican exports. Ebrard made the comments in an interview with local broadcaster Radio Formula, in which he reflected on how President-elect Donald Trump threatened 25% tariffs on Mexican goods during his previous term in office at a time when the Republican leader sought concessions from Mexico's government on immigration enforcement.
Analyst adjusts Palo Alto Networks stock price target ahead of earnings
This is what could happen next to shares of Palo Alto Networks.
Trump's proposed trade war raises the chances of a US recession to 75%, Wall Street strategist says
A BCA Research strategist, Peter Berezin, said investors should be underweight in stocks because of President-elect Donald Trump's tariff plans.
Trump trade powers Dow 44,000, S&P 6,000 as stocks keep humming
The Dow, S&P 500 and Nasdaq Composite hit a fresh round of new record highs as investor optimism continues following President-elect Donald Trump's historic White House win.
Australia’s Consumer, Business Sentiment Lift as Inflation Ebbs
(Bloomberg) -- Australia’s consumer sentiment rose in November while business confidence jumped to the highest level since early 2023, reflecting ebbing inflation pressures that suggest the next move in interest rates will be a reduction.Most Read from BloombergThe Leaf Blowers Will Not Go QuietlyArizona Elections Signal Robust Immigration Enforcement Under TrumpScoring an Architectural Breakthrough in Denver’s RiNo DistrictKey Ballot Initiatives and Local Races Highlight Views on Abortion, Immi
BITX Surges as Bitcoin Hits New High
Leveraged bitcoin ETF gains as cryptocurrency market reacts to Trump victory and MicroStrategy’s latest purchase.
Trump's tax cuts could boost S&P 500 earnings by 20% over the next 2 years, Goldman Sachs says
Goldman Sachs estimated that each percentage-point cut to the corporate tax rate could boost S&P 500 earnings by slightly less than 1%.
Bitcoin has topped $87,000 for a new record high. What to know about crypto's post-election rally
As money continues to pour into crypto following Donald Trump's victory last week, bitcoin has climbed to yet another record high. This kind of currency is designed to work through an online network without a central authority — meaning it's typically not backed by any government or banking institution — and transactions get recorded with technology called a blockchain.