Gold and copper prices plummeted as Donald Trump’s victory sent the US dollar soaring. The surge in the dollar, fueled by Trump’s win and Republican control of the Senate, diminished the appeal of metals for buyers. This outcome triggered profit-taking among traders who had sought refuge in gold amidst pre-election uncertainty.
Posts in category Economic Times
US stocks surge to record highs as Trump returns to presidency (07-11-2024)
US stock market surged with Dow, S&P 500, and Nasdaq closing at all-time highs. This followed Donald Trump’s victory in the 2024 US presidential election. Investors anticipate policy changes including tax cuts and deregulation. Financial sectors, particularly banks, saw significant gains. Treasury yields rose, impacting interest rates and potentially affecting small businesses.
Record-breaking Bitcoin rally set to gain momentum (07-11-2024)
Bitcoin surged past $75,000 for the first time following Donald Trump’s US election victory. The futures market, particularly CME’s basis and perpetual futures contracts, indicates a potential continuation of this rally. This surge is attributed to expectations of crypto-favorable policies under a second Trump administration.
Record-breaking Bitcoin rally set to gain momentum (07-11-2024)
Bitcoin surged past $75,000 for the first time following Donald Trump’s US election victory. The futures market, particularly CME’s basis and perpetual futures contracts, indicates a potential continuation of this rally. This surge is attributed to expectations of crypto-favorable policies under a second Trump administration.
Visa’s Next-Gen Tech to Enable Smoother, Fraud-free Ecomm (07-11-2024)
Visa is introducing new tools to enhance payment experiences, including “payment passkeys” for biometric authentication, aiming to reduce checkout times to 20 seconds. The company is also implementing flexible credentials for smoother cross-border transactions and launching A2A Protect, powered by AI, to mitigate fraud in real-time payments by analyzing transaction patterns and risk levels.
Don’s return brings cheer to IT, but euphoria may be short-lived (07-11-2024)
Indian IT companies saw their stocks surge following Donald Trump’s presidential election victory. The rally was fueled by optimism surrounding Trump’s pro-business policies, which are expected to boost IT spending. However, potential protectionist measures under a Trump administration pose a risk for Indian software exporters, potentially hindering the sector’s growth.
Pre-market action: Here’s the trade setup for today’s session (07-11-2024)
The underlying short-term trend of Nifty continues to be positive. A sharp upside breakout of immediate resistance of 24500 levels is likely to open the next upside target of 25K mark in a quick period of time. Immediate support is placed at 24350, said Nagaraj Shetti of HDFC Securities.
Stocks in news: Tata Steel, M&M, Trent, Blue Star, Hindalco (07-11-2024)
Shares of steel major Tata Steel Ltd will be in focus today after the company turned to black in the quarter ended September 2024. The company had posted a loss in the last year period.
Niva Bupa well placed to ride growth in health insurance (07-11-2024)
Niva Bupa Health Insurance is gearing up for an IPO to raise Rs 2,200 crore, aiming to capitalize on the growing health insurance market in India. The IPO involves a fresh issue of shares and an offer for sale by promoters, with anchor investors already committing Rs 990 crore.
Japan leads gain in Asian stocks after Trump’s win (07-11-2024)
Hong Kong equity futures dropped, as did a gauge of US-listed Chinese stocks. Trump has pledged to introduce tariffs on Chinese goods to support US manufacturing.