Nasdaq Surpasses 20000 Points for the First Time Amid Fed Rate Cut Speculations

Nasdaq Surpasses 20000 Points for the First Time Amid Fed Rate Cut Speculations

U.S. stocks surged on Wednesday, with the Nasdaq Composite reaching a record high,
crossing the 20,000-point milestone for the first time in history.
This rally was fueled by U.S. inflation data that bolstered expectations for a Federal Reserve interest rate cut next week.

 

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Indices

The Dow Jones Industrial Average rose by 0.1% or 40 points to close at 44,287 points.
The S&P 500 gained 0.9% or 53 points, ending at 6,088 points. Meanwhile,
the Nasdaq Composite jumped by 1.7% or 338 points, finishing at 20,025 points.

Data from the Bureau of Labor Statistics revealed that the U.S. Consumer Price Index (CPI) increased by 2.7% year-over-year and 0.3% month-over-month in November, marking the highest monthly rate since April.
This strengthened expectations for the Fed to lower interest rates by 25 basis points next week.
The probability of this rate cut is now at 94%, compared to 78% a week ago.

 

 

 

 

 

Switzerland

Swiss National Bank Cuts Interest Rate by 50 Basis Points, Surprising Markets

On Thursday morning, the Swiss National Bank (SNB) announced a 50 basis-point reduction in its interest rate,
bringing it to 0.5% during its final meeting of 2024.
This decision exceeded market expectations, which had anticipated a smaller cut of 25 basis points.

Short-term interest rates are among the most critical indicators impacting currency strength.
Traders are now monitoring other key indicators to gauge the future direction of these rates.
The SNB typically sets its target interest rate for Swiss franc deposits based on an average price range,
factoring in monetary policies and their anticipated outcomes.

 

 

 

 

 

Tesla

Tesla Stock Hits Record Close Following Positive Goldman Sachs Recommendation

It shares rose for the sixth consecutive session, closing at a record high on Wednesday.
This rally was driven by a positive recommendation from Goldman Sachs analysts and sustained momentum around the stock since Donald Trump’s presidential election victory.

Tesla shares climbed 5.95%, closing at $424.77, surpassing the previous record of $409.97 set in November 2021.
The stock has gained approximately 71% year-to-date, with most of the gains occurring after the presidential election.

November was particularly strong for Tesla, with the stock rising 38%,
marking its best monthly performance since January 2023 and the tenth-best in its history.
The surge was supported by the close relationship between Tesla CEO Elon Musk and the newly elected U.S. President.

 

 

 

 

 

Nasdaq Surpasses 20000 Points for the First Time Amid Fed Rate Cut Speculations

 

Bank of Canada Cuts Interest Rate to Support the Economy

Bank of Canada Cuts Interest Rate to Support the Economy: The Bank of Canada announced a new cut in the key interest rate
to address inflation and support the Canadian economy.
This decision seeks to tackle domestic and global economic challenges affecting growth and employment rates.
Below is a detailed overview of the bank’s statement and the expected impact on the Canadian economy.

 

Content

Details

 

Details

On Wednesday, the Bank of Canada reduced the key interest rate by 50 basis points
to 3.25% while maintaining the bank rate at 3.75% and the deposit rate at 3.25%.
The bank stated that it made this decision in response to several local and global economic factors.

The bank noted that Canada’s GDP growth in the third quarter stood at 1%,
which was below expectations, impacted by weak business investment, inventories, and exports.
Conversely, consumer spending and housing activity increased, reflecting the effects of lower interest rates.

In the labor market, the unemployment rate rose to 6.8%
in November as employment growth slowed compared to labor force growth.
Despite signs of a slowdown, wage growth remained high.
The bank pointed out that reduced immigration is expected to affect GDP growth next year negatively.

The bank stated that the Consumer Price Index (CPI)
inflation was around 2% and is expected to remain near this target over the next two years.
It also highlighted that temporarily suspending the Goods and Services Tax would reduce inflation,
but this effect would be short-lived.

Globally, the bank noted that the U.S. economy remains strong,
with robust consumer spending and a thriving labor market,
Experts expect growth in the eurozone to weaken,
while in China, policy measures and strong exports drive growth despite weak household spending.

The Bank of Canada affirmed its commitment to monitoring economic data
and inflation expectations to make future decisions on interest rates,
emphasizing its dedication to maintaining price stability and achieving its inflation target of 2%.

 

A Look at Economic Decisions: Bank of Canada Cuts Interest Rate to Support the Economy

Trump’s Anticipated Tariffs Spark Gold and Silver Prices in New York

Trump’s Anticipated Tariffs Spark Gold and Silver Prices in New York
With rising trade tensions and anticipation of policies by U.S. President-elect Donald Trump,
gold and silver markets have experienced significant volatility, drawing investor attention.
The notable surge in precious metals futures reflects traders’ expectations of the potential impact of proposed tariffs on global markets.

 

Content Overview

 

 

 

 

 

Significant Rise in Gold and Silver Futures

Gold and silver prices in New York witnessed a remarkable increase,
with gold futures exceeding London spot prices by $60 per ounce,
or 2%. Similarly, silver futures rose by over $1 per ounce, representing a 3% gain.
This surge is attributed to traders covering short positions in response to the potential inclusion of precious metals in the comprehensive tariff measures proposed by President-elect Donald Trump.

 

 

Interplay Between New York and London Exchanges and Its Impact on Prices

Prices between New York and London exchanges are typically aligned through the “Exchange for Physical” (EFP) mechanism,
which many banks and traders use to balance the two markets.
However, an unexpected premium in New York prices indicates traders’ concerns over the possible effects of tariffs on precious metal imports, such as gold, silver, and copper.
Nicky Shiels, Head of Metals Strategy at MKS Pamp, explained that these price movements are driven by banks
and investment funds covering their short positions.

 

 

 

 

 

 

Potential Scenarios and Lessons from the Past

John Reade, Chief Market Strategist at the World Gold Council,
noted that the likelihood of tariffs impacting metal imports justifies covering short positions.
He added that the potential cost of inaction could result in losses of up to $300 per ounce if a 10% tariff is imposed.
Despite this, the current situation does not indicate logistical issues in moving bullion between New York and London,
unlike during the early stages of the COVID-19 pandemic when price differences reached a record $70 per ounce.

 

 

 

Inventory Stability and Supply Recovery

With a stockpile of 8.1 million ounces on the COMEX exchange, supply stability is evident compared to previous years.
Traders have successfully overcome past supply chain disruptions that affected global markets.
In the latest trading, spot gold prices rose by 0.8% to $2,716.14 per ounce,
marking a significant gain after a 1.3% increase the day before.

 

 

 

Trump’s Anticipated Tariffs Spark Gold and Silver Prices in New York

Wall Street’s Enthusiasm for Tech Stocks Lifts Market Indices

Wall Street’s Enthusiasm for Tech Stocks Lifts Market Indices:
Stock markets rallied Wednesday as investors flocked to major U.S. tech companies,
breaking a two-day losing streak.
This came after an inflation report boosted expectations that the Federal Reserve would continue cutting interest rates.
Meanwhile, Treasury bonds recorded a decline in value.

 

Contents

Substantial Gains in Tech Stocks

Inflation and the Future of Interest Rates

Market Expectations and Risky Assets

Central Banks and Monetary Policy

 

Substantial Gains in Tech Stocks Drive Market Indices to Record Highs

The Nasdaq 100 index rose by 1.9%, reaching a new record high,
while the S&P 500 climbed by 0.8%, nearing its peak.
Broadcom led the gains following a report indicating a new AI deal with Apple.
Additionally, shares of the “Magnificent Seven” (Meta, Amazon, Tesla, Nvidia, Apple, Alphabet, Microsoft) surged,
with Tesla, Amazon, and Meta (Facebook’s parent company) hitting all-time highs.

 

Inflation and the Future of Interest Rates

A Bureau of Labor Statistics report showed that the Consumer Price Index (CPI)
increased by 0.3% in November for the fourth consecutive month.
The core CPI, which excludes volatile food and energy costs,
rose by the same amount, aligning with forecasts.
According to Skylar Winand, Chief Investment Officer at Regan Capital,
this report gives the Federal Reserve a “green light”
to reduce interest rates by 25 basis points at its December meeting.

Traders expect a quarter-point rate cut in the upcoming meeting.
There is ongoing debate over the number of potential cuts in the coming year.
However, U.S. government policies could contribute to inflationary pressures.

 

Market Expectations and Risky Assets

Upcoming inflation data, such as producer prices and personal consumption expenditures,
is expected to offer additional insights into the economic trajectory.
Meanwhile, the VIX index, a measure of market volatility, fell below 14 points, signaling near-term market calm.

Jeff Schulz from ClearBridge Investments noted that declining inflation supports
risky assets and boosts stocks during one of the most substantial seasonal periods of the year.

 

 

 

 

Central Banks and Monetary Policy

The U.S. dollar strengthened following reports that Chinese leaders are
considering allowing their currency to weaken, anticipating higher tariffs under a second Trump administration.
The Canadian dollar also rebounded after hitting a four-and-a-half-year low,
as policymakers signaled readiness to slow the pace of monetary easing.
On Wednesday, the Bank of Canada cut interest rates by 50 basis points, marking its second significant reduction.

Other central banks are also expected to lower interest rates,
with some potentially cutting them faster and more profoundly than the Federal Reserve.
The European Central Bank and the Swiss National Bank will likely follow suit on Thursday.
Meanwhile, China’s two-day Central Economic Work Conference is expected to outline next year’s policies,
following signals of stimulus plans from top leaders in Beijing.

Separately, oil prices rose after reports of potential new U.S. sanctions
on the Russian oil trade, which could tighten market supply.

 

Wall Street’s Enthusiasm for Tech Stocks Lifts Market Indices

Learn Forex Trading for Beginners

Learn Forex Trading for Beginners

Forex trading has become one of the most popular financial activities worldwide,
allowing traders to benefit from global currency price movements.
For beginners, this market may seem complex and risky, but it is full of potential for those who learn the basic rules and practice wisely.
This article will explore the fundamentals of forex trading and how beginners can start correctly.

 

Topic

What is Forex

Key Steps to Learn Forex Trading

Important Tips for Beginners

Conclusion

 

 

 

 

 

What is Forex

and Why is it Attractive to Beginners

Forex, also known as the foreign exchange market, is the largest financial market in the world,
where different currencies are traded.
Forex attracts beginners because it is easily accessible via the internet,
offers small trading accounts and operates 24/7.
The market provides opportunities to profit from currency price movements.

 

 

Key Steps to Learn Forex Trading

  1. Understanding the Basics:
    Learn key concepts such as currency pairs, margin, leverage, and technical and fundamental analysis.
    There are many free and paid resources available to teach beginners.
  2. Choosing a Reliable Trading Platform:
    Make sure to choose a broker that offers an easy-to-use and transparent platform, such as Evest trading platform.
    It provides strong customer support and demo accounts for risk-free trading practices.
  3. Practicing with a Demo Account:
    A demo account is an excellent tool to gain experience without risking your money.
    Use it to test trading strategies and deepen your understanding of the market.

 

 

 

 

 

Important Tips for Beginners

  • Do not invest money you cannot afford to lose.
  • Focus on learning rather than earning at the beginning.
  • Keep up with economic news and its impact on currencies.

With practice and patience, forex trading can become a means to generate additional income or even a professional endeavor.

 

 

Conclusion

In conclusion, forex trading is an exciting opportunity for new investors but requires continuous learning and patience.
By understanding the market’s fundamentals and practicing with demo accounts,
beginners can build effective trading strategies and transition confidently to live trading.
Always remember that success in forex relies on knowledge and discipline above all else.

 

 

 

Learn Forex Trading for Beginners

 

EIA Forecasts: Non-OPEC Oil Production to Drive Growth

EIA Forecasts: Non-OPEC Oil Production to Drive Growth in 2025

The U.S. Energy Information Administration (EIA) has projected that non-OPEC countries
will be the primary drivers of oil production growth in 2025,
due to production restrictions imposed by the OPEC+ alliance.

 

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Oil

 

 


Oil

According to the Short-Term Energy Outlook report,
the average price of Brent crude oil is expected to reach $73.58 per barrel in 2025,
marking a 3.3% decline from previous estimates.
Meanwhile, U.S. crude oil is forecasted to close next year at $69.12 per barrel,
a 3.5% reduction from earlier predictions.

 

On the global production front, the EIA revised its forecasts downward by 0.4% to 104.2 million barrels per day for 2025.
This includes a 1% cut in OPEC+ production estimates to 42.8 million barrels per day and a slight 0.1% reduction
in U.S. oil output projections, bringing it to 13.52 million barrels per day.

 

The EIA noted that increased U.S. crude oil production would significantly reduce net oil imports into the U.S. by more than 20%,
bringing them down to 1.9 million barrels per day—the lowest annual level since 1971.

 

In terms of demand, the December report highlighted a slight downward adjustment in global oil consumption forecasts,
now expected to reach 104.3 million barrels per day in 2025,
compared to earlier estimates of 104.4 million barrels per day.

 

 

EIA Forecasts: Non-OPEC Oil Production to Drive Growth in 2025

Tesla’s Sales in China Reach Their Highest Weekly Level in Q4

Tesla’s Sales in China Reach Their Highest Weekly Level in Q4:
Tesla sold 21,900 electric vehicles in China during the first week of December,
the highest weekly sales rate in the fourth quarter of this year.

 

Content

Tesla’s Sales in China

The Australian Economy

 

 

 

 

Tesla’s Sales in China Reach Their Highest Weekly Level in Q4

Tesla sold 21,900 electric vehicles in China during the first week of December,
the highest weekly sales rate in the fourth quarter of this year.
 This performance comes after the company’s sales in the Chinese market exceeded 73,000 units in November,
representing Tesla’s best monthly performance in China this year.

Tesla, led by Elon Musk, produces the Model 3 and Model Y at its Shanghai factory,
which has an annual production capacity of up to one million units.
The Model Y continued to lead the list of best-selling electric cars in China,
with sales reaching 556,000 units last year.

 

 

 

The Impact of Potential U.S. Tariffs on Australian Economy 

Andrew Hauser, Deputy Governor of the Reserve Bank of Australia,
stated that the direct impact of potential U.S. tariffs on Australia would be limited.
However, he noted that the global repercussions of the trade war could significantly affect economic activity,
including Australia’s economy.

Hauser explained that the significant impact would depend on China’s response,
as it is Australia’s largest trading partner. This highlights the importance of economic relations between the two countries.
He emphasized that Australia has practical tools to address such shocks,
including exchange rate flexibility and independence in monetary policy.

Regarding inflation, Hauser pointed out that the impact of tariffs on inflation rates in Australia remains uncertain.
Depending on economic conditions, tariffs could lead to either an increase or a decrease.
He stressed that the Reserve Bank of Australia is prepared
to take strong measures to achieve its economic objectives and maintain monetary stability.

Hauser added that the central bank does not adhere
to a specific inflation number as a condition for easing monetary policy.
Instead, decisions depend on aligning economic data with the bank’s expectations
and emerging sustainable trends indicating improved inflation in line with financial goals.

 

Tesla’s Sales in China Reach Their Highest Weekly Level in Q4

Invest in Talabat Asset with Evest Trading Platform

Invest in Talabat Asset with Evest Trading Platform: Evest is excited to announce the addition of Talabat
to its diverse range of trading assets. This move opens new doors for traders to invest in
one of the Middle East’s most dynamic and fast-growing companies.
With this move, Evest continues to empower its clients with access to high-potential investment opportunities.

 

Content
Why Talabat

Key highlights of Talabat
Why Trade Talabat on Evest

How to Start Trading Talabat on Evest

Stay Ahead with Evest

 

 

 

 

 

Why Talabat?

Talabat is a leading food delivery and e-commerce platform established as a household name across the Middle East.
Known for its innovative services, robust market presence, and steady growth,
Talabat has captured the attention of investors seeking exposure to the region’s booming tech-driven economy.

 

Key highlights of Talabat include:

  • Expanding Market Share: Dominating the food delivery industry in several GCC countries.
  • Technological Innovation: Leveraging cutting-edge technology to enhance customer experience.
  • Growth Potential: Positioned in a region with a growing population and increasing demand for e-commerce services.

 

Why Trade Talabat on Evest?

At Evest, we prioritize providing traders seamless access to leading assets and markets.
By adding Talabat to our platform, we offer:

    1. 0% Commission Trading: Maximize your potential profits with no commission fees.
    2. User-Friendly Interface: Evest’s platform is designed for traders of all levels, making it easy to access and trade Talabat.
    3. Diverse Investment Opportunities: Include Talabat in your portfolio to benefit
      from its potential and balance your investments across various industries.
    4. Real-Time Insights: Access up-to-date market data and analysis to make informed trading decisions.

 

 

 

 

How to Start Trading Talabat on Evest

Trading Talabat on the Evest platform is simple:

  1. Register: Sign up for an Evest trading account.
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  5. Trade: Execute your trades with ease and track performance in real-time.

 

Stay Ahead with Evest

Evest’s commitment to innovation and trader-centric solutions ensures you have the best tools and opportunities.
Talabat represents an exciting addition to our platform,
offering you the chance to invest in a leading company shaping the future of e-commerce in the Middle East.

Don’t miss out on this opportunity to trade Talabat and diversify your portfolio.
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Sign up today and unlock the potential of Talabat on Evest!

 

Invest in Talabat Asset with Evest Trading Platform

Gold Prices Rise as China Pledges Economic Support Amid Interest Rate Speculation

Gold Prices Rise as China Pledges Economic Support Amid Interest Rate Speculation
Gold prices rose during Tuesday’s trading, continuing their gains after closing the previous session at a two-week high.
This support came following commitments from China’s Communist Party leaders to implement additional fiscal and monetary measures in 2025 to boost the domestic economy and demand.

 

 

Topic
Gold
Australia
Japan

 

 

 

Gold

February gold futures rose by 0.22% or $5.9 to $2,691.70 per ounce, while spot gold prices increased by 0.38% to $2,670.33 per ounce.
Conversely, March silver futures fell by 0.26% to $32.525, and spot platinum dropped by 0.38% to $937.93 per ounce.
Statements from the Chinese Communist Party during a meeting yesterday emphasized adopting more proactive fiscal policies to support macroeconomic stability and stimulate domestic demand, alongside easing monetary policies, signaling a shift from the cautious approach of the past 14 years.
Additionally, global geopolitical tensions continued to provide extra support for gold prices, despite some risks easing with the calm in Syria.

 

 

 

 

 

Australia

Reserve Bank of Australia Holds Interest Rates at 4.35% Amid Persistent Inflationary Pressures
The Reserve Bank of Australia (RBA) announced on Tuesday that it would maintain its main interest rate at 4.35%, its highest level in 13 years, aligning with market expectations. This decision comes amid ongoing inflationary pressures, with recent data showing a rise in inflation rates, prompting the bank to delay any potential rate cuts.
In a statement, the RBA noted that core inflation remains high, necessitating caution in adjusting monetary policies. The bank reiterated its commitment to monitoring economic developments and taking appropriate measures to ensure price stability.
The RBA has raised interest rates multiple times since last year in an effort to curb rising inflation. It is expected to closely monitor economic data before making any future rate adjustment decisions.

 

 

 

 

Japan

Japanese Stocks Climb on Yen Stability and China’s Economic Pledge
Japanese stocks closed Tuesday’s session higher, supported by yen stability and investor optimism
about China’s pledge to support its economy in 2025.
The Nikkei Index rose by 0.53% to 39,367 points, while the Topix Index increased by 0.25% to 2,741 points.
The stability of the dollar against the yen at 151.26 yen supported exporters’ stocks.
Toyota’s shares rose by 1.29%, Suzuki Motor by 2.72%, and Honda by 1.12%.
Additionally, shares of companies linked to the Chinese market gained following Beijing’s announcement of proactive fiscal policies to boost domestic demand next year.
Yaskawa Electric’s shares surged by 2.71%, while Sony Group’s shares increased by 4.12%, surpassing their record high from 2000.

 

 

 

 

Gold Prices Rise as China Pledges Economic Support Amid Interest Rate Speculation

 

Stability in Oil and Gold Prices Amid Market Anticipation for Economic Stimulus and Global Developments

Stability in Oil and Gold Prices Amid Market Anticipation for Economic Stimulus and Global Developments

The stability in oil and gold prices reflects the global market’s anticipation of new economic stimulus measures from China.
Meanwhile, geopolitical developments continue to play a significant role in shaping price movements.

 

 

Content

 

 

 

 

 

Oil

Oil Markets Await China’s Support and Geopolitical Shifts
It’s prices stabilized on Tuesday as investors focused on expectations of new economic stimulus from China,
the world’s largest oil importer. Brent crude futures hovered near $72 per barrel after a 1.4% rise on Monday,
while West Texas Intermediate (WTI) crude surpassed $68 per barrel.

The Chinese Communist Party’s Politburo announced plans to adopt a “moderately easing” monetary policy,
marking the first official economic stimulus announcement in years.
This sparked hopes of increased oil demand in the coming year.

However, oil prices have remained in a narrow range since mid-October, with the gap between bid and ask prices narrowing.
Markets have been influenced by concerns over weaker Chinese demand, abundant global supplies,
and geopolitical tensions in Ukraine and the Middle East.
The fall of Bashar al-Assad’s regime in Syria has further complicated the geopolitical landscape,
creating a power vacuum that could lead to more chaos as factions vie for control.

This week, investors are closely monitoring critical reports from the U.S. Energy Information Administration,
OPEC, and the International Energy Agency, which are expected to provide key insights into the future of global oil markets.

 

 

 

 

 

Gold

Gold Prices Steady Amid U.S. Federal Reserve Expectations
Gold prices remained stable on Tuesday, with the ounce trading at $2,659, the highest level in two weeks.
Markets are now focused on upcoming U.S. inflation data, which could influence the Federal Reserve’s interest rate decisions.

Gold received additional support after the Chinese central bank increased its gold reserves for the first time in seven months,
reflecting a strategy to enhance monetary stability. Geopolitical concerns, particularly in Syria following the ousting of Bashar al-Assad,
have also boosted demand for gold as a safe-haven asset.

The inflation data, set to be released on Wednesday and Thursday, will provide the Federal Reserve with a clearer view of the economic landscape before its final meeting of the year. While markets anticipate a 25-basis-point interest rate cut,
any signs of lagging progress in controlling inflation could delay this move.

In October, gold hit a record high of $2,790 per ounce, driven by the Federal Reserve’s pivot toward monetary easing and
heightened demand for safe havens amid escalating tensions in the Middle East and Ukraine.
Despite a subsequent decline due to a stronger dollar, gold remains up 28% for the year.

Additionally, silver and palladium prices saw slight increases, while platinum prices remained steady.

 

 

 

 

Stability in Oil and Gold Prices Amid Market Anticipation for Economic Stimulus and Global Developments