Trump Leads a New Shift in U.S. Cryptocurrency Policy:
With Donald Trump’s return to the White House, U.S. cryptocurrency policy is radically transforming.
After years of strict regulations under Joe Biden’s administration, Trump Leads a New shift and announced crypto-friendly measures, including creating a strategic digital
asset reserve and hosting the first-ever White House Cryptocurrency Summit.
These initiatives signal a new direction to solidify the United States’ position as a global leader in digital assets.
On Sunday, U.S. President Donald Trump announced the inclusion
of five cryptocurrencies in the country’s new strategic digital asset reserve,
leading to a significant surge in their value.
Through social media, Trump explained that the executive order he issued in January regarding digital
assets would result in the formation of a reserve that includes Bitcoin (BTC), Ethereum(ETH), Ripple(XRP), Solana(SOL), and Cardano(ADA).
This previously undisclosed list boosted investor confidence and led to a rally in the market.
On Sunday, these cryptocurrencies experienced notable gains,
with Trump emphasizing that this initiative aims to establish the United States as the global capital for cryptocurrencies.
In a follow-up post, he stated that Bitcoin and Ethereum would be at the reserve’s core, alongside other valuable assets.
Trump received strong support from the crypto community throughout his 2024 presidential campaign.
He quickly began implementing policies that favored the industry,
starkly contrasting with Joe Biden’s administration, which imposed tight regulations to combat fraud and money laundering.
However, the crypto market has recently declined,
with most assets losing their post-election gains following Trump’s victory.
White House Cryptocurrency Summit
In another move demonstrating his commitment to the crypto sector,
Trump is set to host the first-ever White House Cryptocurrency Summit this Friday.
Event Details:
Trump will deliver a keynote speech outlining his administration’s crypto policies.
The event will feature leading entrepreneurs, CEOs, and investors in the crypto industry.
Members of the Presidential Working Group on Digital Assets will also participate.
Key Figures Attending the Summit:
David Sacks – A prominent investor and strong crypto advocate, will lead the summit.
Bo Hines – The executive director of the presidential working group will oversee discussions.
Upon taking office, Trump signed an executive order establishing a government task force
to advise on cryptocurrency policies and explore the creation of a strategic digital asset reserve.
A Radical Shift in Washington’s Crypto Policy
Trump’s new approach represents a significant shift from Biden’s administration,
which imposed strict regulations on cryptocurrencies, particularly after the collapse of FTX and other industry scandals.
Key Changes in U.S. Crypto Policy:
Trump previously criticized cryptocurrencies as a “scam” but changed his stance during his campaign.
He promised to ease regulations and support a clear framework for stablecoins.
He committed to creating a Bitcoin reserve as part of the U.S. financial strategy.
Trump’s Personal Involvement in Crypto Beyond his policies, Trump has entered the crypto space by launching his digital currency
before returning to the White House. He has also backed a joint venture with his sons named “World Liberty Financial.”
The New White House Approach:
Establishing a clear regulatory framework to support innovation, Promoting economic freedom in the cryptocurrency sector and Positioning the U.S. as a global leader in digital assets.
Trump Leads a New Shift in U.S. Cryptocurrency Policy
Market Fluctuations Amid Trump’s Decisions and Their Impact on Oil and Gold
Oil and gold markets experienced significant fluctuations due to a series of economic decisions
and measures taken by former U.S. President Donald Trump.
These developments led to notable changes in energy and precious metal prices,
amid growing concerns over escalating trade and geopolitical tensions.
It prices oscillated between gains and losses under the impact of a series of decisions and measures announced
by former U.S. President Donald Trump.
These measures included a threat to impose tariffs of up to 25% on oil producers from Canada and Mexico,
alongside orders to boost domestic energy production.
Brent crude surpassed $80 per barrel after three consecutive days of losses,
while West Texas Intermediate crude neared $77. Trump also declared a national energy emergency
but refrained from revealing details on tariffs related to China,
instead directing his administration to address global unfair trade practices.
Market Disruptions and Sanctions Expectations
Oil prices started the year strong due to increased heating demand driven by cold weather and U.S. sanctions on Russia,
which disrupted global oil flows.
With the potential for new sanctions on Iran and Venezuela, concerns about market stability continue to grow.
Trump also reaffirmed plans to refill the U.S. Strategic Petroleum Reserve,
which had reached its lowest levels since the 1980s,
while signing an order to withdraw from the Paris Climate Agreement and lifting restrictions on offshore oil and gas leasing.
Gold
Rising Gold Prices Amid Tariff Tensions
Gold prices saw a significant rise following Trump’s announcement of his intention to impose tariffs on Mexico and Canada,
with the price per ounce reaching $2,720.
This increase occurred despite the postponement of similar tariffs on China,
raising concerns about the escalation of a trade war with neighboring countries.
Impact of Decisions on Silver and Other Metals
Silver futures also experienced a temporary rise of 0.8% after Trump’s statements, only to retreat later.
It remains unclear whether the proposed tariffs will include silver imports,
as market volatility and rising premiums on futures contracts persist.
Inflation Concerns and Monetary Policy
Investors have focused on inflation expectations amid Trump’s economic plans,
which include tax cuts and increased spending.
These measures could limit the Federal Reserve’s ability to continue monetary easing,
affecting gold’s appeal as a safe-haven asset.
Monitoring Gaza Truce Developments
Markets were also influenced by a long-awaited truce agreement between Hamas and Israel,
easing geopolitical tensions slightly.
Nevertheless, gold prices are expected to see further gains due to increased demand for safe-haven assets amid global uncertainty.
Donald Trump Inaugurated as President of the United States Amid Global Anticipation Today, the United States witnesses the inauguration of the newly elected president,
Donald Trump, aged 78, as he takes the oath of office at 12 PM Eastern Time (8 PM Saudi Time).
Trump is scheduled to deliver his inaugural address inside the Capitol building, attended by
several prominent figures both domestically and globally,
in an event expected to draw wide political and media attention. This inauguration takes place amid expectations that Trump will begin his term with a series of executive orders,
described by him as “groundbreaking,” reflecting his ambition to make sweeping changes across multiple issues.
Holzmann
European Central Bank Rate Cuts Are Not Guaranteed Robert Holzmann, a European Central Bank (ECB) member and Governor of Austria’s central bank,
stated to Politico on Monday that cutting interest rates in the eurozone is not certain,
noting that inflation remained above the ECB’s 2% target during December. Holzmann added that inflation is likely to remain high in January and warned
that a decision to cut rates could harm the ECB’s credibility,
especially if inflation accelerates faster than the bank’s forecasts.
China
Chinese Stocks Rise After Rate Stabilization and Eased Tensions with Washington Chinese stocks closed Monday’s session higher, supported by the central bank’s decision to maintain interest rates to stabilize the yuan,
in addition to easing concerns over trade tensions between Washington and Beijing. The CSI 300 Index closed up 0.45% at 3,829 points,
while the Shanghai Composite Index settled at 3,244 points, and the Shenzhen Composite Index rose 0.97% to 1,935 points.
In Hong Kong, the Hang Seng Index climbed 1.75% to close at 19,926 points. This rally followed a phone call between Chinese President Xi Jinping and U.S. President-elect Donald Trump,
where they discussed issues such as the TikTok ban, trade relations, and the Taiwan issue, helping to ease tensions. Meanwhile, the People’s Bank of China kept interest rates on one-year and five-year loans unchanged at 3.1% and 3.6%,
respectively, for the third consecutive time, citing limited monetary easing options due to pressure on the local currency. Following this decision, the Chinese yuan rose in international markets,
with the U.S. dollar declining 0.12% against the yuan,
reaching 7.3162 yuan.
Donald Trump Inaugurated as President of the United States
New Escalation by Trump Shakes Asian Markets: Tariff Pressure and Economic Concerns: The newly elected President, Donald Trump, has returned to the economic spotlight
by announcing plans to impose additional tariffs on China, Mexico, and Canada,
reviving memories of his controversial trade policies focused on the “America First” slogan.
These statements, which have unsettled global markets,
raise questions about the future of the global economy amidst a new escalation in trade wars.
Trump announced on his “Truth Social” platform plans to impose tariffs
of 10% on Chinese imports and 25% on goods from Mexico and Canada.
He justified these measures as necessary steps to curb illegal immigration and combat the flow of drugs across borders.
The financial markets responded quickly to these announcements:
Asian Stocks Drop: Indices in Japan, Australia, and South Korea declined significantly.
U.S. Dollar Rises: The Bloomberg Dollar Index rose by 0.7%.
In response to these threats, market experts expressed concerns about the potential impact of these policies on global trade.
Kieran Calder, Head of Equity Research at “Union Bancaire Privée,” commented: “This strategy is not new to Trump, as his negotiation style relies on initial escalation to gain leverage later.”
The U.S. Markets: Between Optimism and Concerns
Despite the worries, U.S. stocks continued to perform positively.
The “S&P 500” rose by 0.3%, while the “Nasdaq 100” added 0.1%.
Analysts on Wall Street foresee further growth in the coming years,
with estimates pointing to the “S&P 500” reaching 6600 points by 2025.
The Effect on Commodities and Currencies
Commodity-Linked Currencies: The Australian Dollar fell by 1.1%,
and the New Zealand Dollar dropped by 0.8%, impacted by their strong ties to the Chinese economy.
Gold: Saw a slight increase after a 3.4% decline the previous day.
Oil: Prices dropped due to the stronger U.S. Dollar and concerns about the new trade threats.
Renewed Optimism for U.S. Stocks
After a period of skepticism about the strength of the stock market over the past two years,
Wall Street strategists have returned to optimistic forecasts, pointing to potential upward trends for the “S&P 500” by 2025.
Major financial institutions such as “Goldman Sachs,” “Morgan Stanley,
” and “BMO Capital Markets” Share a consensus on annual targets for the index near 6600 points.
This figure represents an estimated 11.7% increase compared to last Friday’s closing,
aligning with the historical annual average return of the index since 1928, with minor adjustments.
Major Transformations Ahead for the Global Economy
While these tariff threats have caused turbulence in Asian markets,
analysts believe this move reflects Trump’s stringent approach to dealing with trade partners.
The key question remains: how will these policies impact global trade relationships,
and will they lead to a new round of negotiations or
further escalations that could jeopardize the stability of the global economy?
New Escalation by Trump Shakes Asian Markets: Tariff Pressure and Economic Concerns
Trump Chooses Elon Musk and Vivek Ramaswamy to Lead a New Advisory Body Overseeing Government Efficiency President-elect Donald Trump announced his selection of businessman Elon Musk and former presidential candidate Vivek Ramaswamy to lead a new advisory institution named the “Department of Government Efficiency.
” This non-governmental body will provide advice and guidance to the government without operating under its authority.
In a statement, Trump explained that this move aims to enhance the effectiveness of the U.S. administration through the new entity’s collaboration with the White House and the Office of Management and Budget to carry out structural reforms and establish an unprecedented entrepreneurial approach in government. In a comment on his “X” account, Musk remarked that the “Department of Government Efficiency” poses a “threat to bureaucracy,” emphasizing that the goal is not to undermine democracy but to improve government operational efficiency.
Samsung
Samsung Shares Hit a 4-Year Low Amid Concerns Over Trump’s Trade Policies Its Electronics shares plunged to their lowest level in over four years, dropping by 4.53% to close at 50,600 South Korean won (USD 36.12) on Wednesday. This decline is attributed to growing concerns over potential global trade tensions due to President-elect Donald Trump’s policies, particularly regarding higher tariffs on Chinese imports. This drop in Samsung’s stock reflects the increasing market anxiety over how U.S. trade policies might affect major tech companies, especially those heavily reliant on Asian markets.
Japan
Japanese Stocks Plunge Amid Fears of Accelerating Inflation and Potential Rate Hikes Japanese stocks fell sharply at the close of trading on Wednesday,
driven by faster-than-expected growth in Japan’s Producer Price Index (PPI) for October,
raising concerns that the Bank of Japan might hike interest rates again. According to data released this morning, the PPI increased by 3.4% in October,
surpassing forecasts that predicted a slowdown to 2.9% following a 3.1% rise in September.
This increase is due to the weakening yen, which has raised import costs for some goods. As a result, the Nikkei 225 index fell by 2.79%, marking its worst daily performance in a week. It is worth noting that the rise in the PPI might prompt the Bank of Japan to reconsider its monetary policy,
particularly regarding interest rates, to combat growing inflationary pressures.
The Rise of Dogecoin Supported by Trump’s Victory and Promising Outlook for Digital Currencies: Dogecoin (DOGE) experienced a significant increase in Monday’s trading, reaching its highest levels in nearly three years.
It stabilized near the $0.30 mark with a daily gain of approximately 20%.
The Rise of Dogecoin Supported by Trump’s Victory and Promising Outlook for Digital Currencies
Dogecoin (DOGE) has seen a notable surge during Monday’s trading,
reaching its highest levels in nearly three years,
stabilizing close to the $0.30 mark with a daily increase of around 20%. Dogecoin has benefited from developments in the U.S. presidential elections following Donald Trump’s victory,
who is considered one of the prominent supporters of digital currencies.
This victory could open new horizons for the digital currency sector, especially for Dogecoin,
which enjoys backing from billionaire Elon Musk.
Musk is expected to hold a position in the upcoming Trump administration,
enhancing Dogecoin’s future and increasing its appeal in financial markets.
In trading, Dogecoin rose by 19.40% over the past 24 hours, currently trading at $0.2874.
The currency ranked sixth among the largest cryptocurrencies by market value, according to “CoinMarketCap” data.
China’s Trade Surplus Nearing One Trillion Dollars in 2024, Threatening Increased Tensions with the Trump Administration
China’s trade surplus is on track to reach record levels this year,
which may spark trade tensions with the United States under the administration of President-elect Donald Trump.
According to Bloomberg’s calculations, China’s trade surplus could hit one trillion dollars if the current pace continues,
with a surplus of $785 billion in the first ten months of the year,
an increase of approximately 16% compared to the same period last year.
China’s economy increasingly relies on exports to offset weak domestic demand,
particularly amid the real estate sector crisis.
The trade surplus with the United States has grown by 4.4% and with the European Union by 9.6% this year.
This expansion in the trade surplus could escalate trade tensions with the United States,
especially given the new U.S. administration’s inclination towards stricter policies on China.
The Rise of Dogecoin Supported by Trump’s Victory and Promising Outlook for Digital Currencies
Trump’s Victory Speeds Up Semiconductor Law Agreements: The Biden administration is working
hard to finalize agreements under the CHIPS Act with major companies
like “Intel” and “Samsung Electronics” to strengthen one of its key initiatives before the elected president,
Donald Trump assumes office.
The administration views the law and the grants it provides
as a significant achievement that contributes to rebuilding the domestic semiconductor industry.
The Department of Commerce has allocated over 90% of the grants,
estimated at around $39 billion, under the CHIPS and Science Act of 2022.
However, the department has announced only one binding agreement so far.
The following two months represent a critical period
for more than 20 companies that are still in the final stages of negotiations.
Sources familiar with the matter indicated that companies such
as “Taiwan Semiconductor Manufacturing”
and “GlobalFoundries” have completed their negotiations
and are awaiting the announcement of the final agreement soon.
Meanwhile, other companies—such as “Intel,” “Samsung,” and “Micron Technology”—
are still working on settling key details in their contracts.
Officials are trying to finalize as many agreements as possible
by the end of 2024 to enable the flow of funding to companies that meet the specified performance requirements.
Republican Reforms and Their Impact on Funding
Trump’s victory has added a sense of urgency as the Biden team
aims to secure its industrial policy initiatives from partisan conflicts.
Semiconductor companies also want to avoid renegotiating the terms
of their agreements with the incoming administration.
The CHIPS Act includes billions of dollars in loans, 25% tax credits,
and grants and has encouraged companies to pledge around
$400 billion to build factories within the United States.
The Democratic administration considers this program,
which was approved by both the Republican and Democratic parties,
one of its major accomplishments.
However, President-elect Trump and his allies have recently criticized the law.
The Debate Over the CHIPS Act
Last month, Trump described the initiative
as “terrible” and suggested imposing tariffs would be a better alternative.
Following this, Republican House Speaker Mike Johnson announced
that his party would seek to “reform” the law,
changing his previous statements that suggested Republicans might “likely” seek to repeal it.
Since the election, Trump’s team has not clarified its stance on the matter,
but industry lobbyists agree that the CHIPS Act will largely remain unchanged.
It is worth noting that the Trump administration
had previously courted “Taiwan Semiconductor Manufacturing,”
a global leader in semiconductor production, to build factories in Arizona.
Additionally, federal regulations will require Trump’s second-term administration
to spend the funds allocated under the CHIPS Act,
including $39 billion set aside for direct grants, through the end of fiscal year 2026.
Semiconductors and National Security
Both parties view domestic semiconductor production as a national security priority,
especially given China’s potential threats over the possible invasion of Taiwan,
a major hub for this industry. Semiconductors are the lifeblood of the modern economy,
as they are essential components in all types of consumer and military technologies,
and they remain a key point of tension between Washington and Beijing.
The CHIPS Act enjoys substantial support compared to other Biden initiatives in industrial policy.
Sujay Shifakumar from the Center for Strategic and International Studies in Washington said, ”
Clearly, the election did not change the fundamental geopolitical challenge with China.”
Republican Pressure for Amendments
However, Republicans may seek to amend the CHIPS Act by removing
what they see as social priorities, such as the requirement for childcare facilities
or the mandate for companies to consult with local labor unions
while also addressing the environmental impact of their factories.
A Republican aide said that party members in Congress are already seriously
discussing amending these provisions as part of next year’s budget
reconciliation process if the party can take control of both houses of Congress.
(Republicans have secured a majority in the Senate, while the House of Representatives remains undecided.)
Bloomberg reported that Mike Johnson is considering reducing
environmental requirements beyond current permitting exemptions.
Meanwhile, industry lobbyists plan to push Congress for increased tax credits during critical tax talks next year.
Company Concerns About Funding
Companies’ concerns do not stem from the possibility that the reforms sought
by Republicans will affect the support they receive but rather from the potential delay in funding.
Some industry executives feel it has already taken too long to secure the funds.
A senior U.S. administration official said that several projects have met the initial criteria,
meaning the first tranche of funds could be disbursed once contracts are signed.
Challenges in Negotiations with Major Companies
For Intel, discussions are partly focused on “change of control” provisions,
according to sources familiar with the matter.
These provisions specify what will happen if the company divests
manufacturing operations or is wholly or partially acquired.
This issue is sensitive as Intel faces significant financial challenges.
Bloomberg and other media outlets reported that other semiconductor companies
are either preparing or considering an offer to acquire Intel or part of it.
Intel CEO Pat Gelsinger has pledged to maintain the company’s unity in this context.
Intel confirmed in a statement that it will continue working with the Biden administration to finalize its grant.
Stance of Other Companies like Micron and Samsung
Meanwhile, “Micron” is refusing to join the “National Semiconductor Technology Center,”
a new research and development hub created under the CHIPS Act with a cost of $5 billion
according to sources familiar with the matter.
This membership was one of the requirements for initial grants,
and “Micron” is one of several companies that is now refusing to join.
Micron stated that it continues to work closely with government officials to finalize its incentive package.
As for “Samsung,” it raised concerns among Biden administration
officials last month after a disappointing financial report,
prompting the company to issue a rare apology.
The struggling company has not made significant progress against “TSMC”
in advanced chip production,
and it has not yet announced a substantial customer for its new facilities in Texas.
Discussions with “Samsung” about the CHIPS Act grant have recently resumed after setbacks earlier this year,
according to sources, technical review meetings between the company and government officials had long gaps,
sometimes lasting over a month.
Samsung did not respond to a request for comment,
and the Department of Commerce declined to comment on the ongoing negotiations.
Unresolved Issues in Final Negotiations
Other unresolved issues include a labor provision known as “Davis-Bacon,”
which sets prevailing wages for construction projects funded by the federal government.
Companies are also seeking clarity on the extent of activities they can undertake in China.
Last year, the Biden administration imposed restrictions to protect national security,
limiting the expansion allowed in China for companies receiving CHIPS Act grants.
However, specific details will be clarified in the contracts.
The Biden administration seeks company commitments
to distribute as much funding as possible before leaving office.
This would ensure companies are generally protected from any changes,
except for laws passed by Congress or cases of non-compliance by grant recipients.
The Commerce Department under Trump may
attempt to cancel and renegotiate already-signed federal contracts,
but his team has shown no interest in doing so thus far.
Nevertheless, Biden administration officials know
that Trump-appointed officials will handle some final touches,
including the actual disbursement of most funding.
A Commerce Department spokesperson said, ”
Our team is continuing to implement this bipartisan law in accordance with executive regulations,”
adding that the department “will announce further developments in the coming weeks.”
Trump’s Victory Speeds Up Semiconductor Law Agreements
The Impact of Trump’s Victory on Financial Markets: The U.S. financial markets have experienced notable rises in stock indices and bond yields,
while the dollar was on the brink of recording its best day since 2022.
These movements reflect investor expectations of Donald Trump’s return
to the presidency and the possibility of Republicans controlling the Senate and the House of Representatives.
Below is a review of the performance of various assets and the anticipated political impact.
U.S. stock indices reached historic levels,
with the S&P 500 index rising by 2.6% due to expectations that the new administration would adopt growth-supportive policies,
strengthening U.S. companies.
According to data from “Birinyi Associates” and “Bloomberg,”
the index achieved its best post-election performance in history.
The Russell 2000 small-cap index also increased by 5.6%, benefiting from anticipated protective policies,
while bank stocks rose amid expectations of tax cuts and reduced regulatory hurdles.
Health insurance stocks also posted notable gains due to expectations of higher payments for senior care service providers.
Drop in the “Fear Index” and Rising Trading Volumes
The VIX, known as the “fear index” on Wall Street,
saw its most significant drop since August, accompanied by increased stock trading volumes.
The Dow Jones Transportation Index rose to a new high,
ending a three-year streak without record highs.
These gains reflect the Dow Theory,
which indicates that simultaneous gains in critical indices signal periods of strong growth.
Bahnsen’s Remarks on Investor Sentiment
David Bahnsen of “The Bahnsen Group” emphasized that investor sentiment supports growth and deregulation,
with expectations of a resurgence in merger and acquisition activity.
He also highlighted the possibility of extending or increasing tax cuts to provide further market support.
Bond Yields and Dollar Movements
U.S. bond yields rose significantly, especially for long-term bonds,
amid reduced Federal Reserve rate cut expectations.
The dollar index rose by 1.3%, while major currencies such as the euroand yenweakened.
Stability of the Peso and Bitcoin’s Record High
The Mexican peso remained stable following a decline,
while Bitcoinreached a new record high, driven by Trump’s embrace of digital assets during his campaign.
Commodities came under pressure, with gold and copperprices declining while oilslightly decreased.
Clarity on the Elections
Ryan Grabinski from (Strategas) stated:
“The biggest lesson we learned from last night is that we have gained the clarity and certainty that the market has been craving.
This clarity will enhance the confidence of companies and consumers.”
He added, “The focus should now turn to the Federal Reserve meeting tomorrow.
The 10-year bond yield is approaching the 4.5% level,
which is a point at which risky assets have faced challenges over the past two years.”
The S&P 500 index settled near 5930 points, marking its 48th record high of the year.
The Nasdaq 100 rose by 2.7%, while the Dow Jones Industrial Average increased by 3.6%.
The “Magnificent Seven” index, which includes companies such as Meta, Amazon, Tesla, Apple, Alphabet, NVIDIA, and Microsoft
reached an all-time high, led by Tesla’s15% share increase.
Shares of “Trump Media & Technology Group” also rose by 5.8%.
At the end of the day, Qualcomm, the world’s largest seller of smartphone processors,
announced positive sales forecasts.
Opinions and Warnings on Future Movements
Keith Lerner of “Truist” noted that markets are currently pricing
in most of the positives despite complexities related to interest rates and growing deficit concerns.
Meanwhile, Thierry Wizman from “Macquarie” cautioned against pushing yield expectations too far,
suggesting potential fiscal restraint by the administration.
Expectations for the Federal Reserve and Interest Rates
The Federal Reserve is expected to reduce interest rates by a quarter-point,
Further cuts are anticipated in the coming months,
according to officials like Yong Yu Ma from “BMO Wealth Management.”
Impact of Congressional Composition on Policies
The composition of Congress will be a critical factor moving forward,
as Republican gains in crucial states could influence economic policies.
A Republican sweep may drive the implementation of stimulating tax policies.
Conclusion
Macroeconomic factors and political shifts continue to drive market dynamics.
Analysts believe that the coming period could offer significant opportunities
for financial markets amid stable indices and increased optimism for a growth-supportive approach.
The Impact of Trump’s Victory on the Financial Market
Trump Declares Victory in Presidential Election, Calling It the Greatest Political Movement in American History
Republican candidate Donald Trump declared his victory in the 2024 U.S. presidential election on Wednesday, describing it as the “greatest political movement ever” and stating that he has “made history” with this win. Trump expressed his gratitude to his supporters and thanked them for helping him secure a second term as President of the United States. This announcement came after he took the lead in critical states such as Pennsylvania, North Carolina, and Wisconsin.
Trump Media Group Stock Soars 41% After Trump Announces Election Victory and Receives Congratulations from European Leaders
The stock of “Trump Media & Technology Group” surged by 41.28%, reaching $47.95 during pre-market trading on Wednesday following Republican candidate Donald Trump’s announcement of his victory in the U.S. presidential election and his receipt of congratulations from several European leaders.
The stock, associated with the media industry, is seen as an indicator of market expectations regarding Trump’s chances of defeating his Democratic rival, Kamala Harris. Although the vote count has not been officially completed, early results suggest Trump has gained enough votes to become the 47th president of the United States.
This increase follows a 1.16% decline in the stock on Tuesday, closing at $33.94, impacted by voting-related volatility and the group’s announcement of a $19.2 million loss in the third quarter and a 5.6% drop in revenue to $1.01 million.
Gold
Gold Prices Plummet as Dollar Rises After Preliminary Results of Trump’s Presidential Victory
It prices saw sharp declines in early Wednesday trading following the announcement of Republican candidate Donald Trump’s win in the U.S. presidency, according to preliminary results. Fox News reported that Trump won Pennsylvania and Wisconsin, boosting his chances of becoming the 47th president of the United States, with Republicans potentially controlling both the House and Senate.
The preliminary results drove the U.S. dollar to its highest level since July, reaching 105.013 points, up by 1.53%. This surge in the dollar decreased demand for dollar-priced commodities, leading to a drop in gold prices. Spot gold prices fell by about 0.64% to $2,726.06 per ounce, while gold futures dropped by 0.51% to $2,735.55 per ounce.
McDonald’s Stock Falls 6.7%: McDonald’s stock dropped significantly in pre-market trading on Wednesday
after U.S. health authorities announced an investigation
into an outbreak of E. coli bacteria linked to one of the popular fast-food chain’s sandwiches.
E.coli Outbreak Investigation Causes McDonald’s Stock to Drop 6.7%
McDonald’s stock dropped significantly in pre-market trading on Wednesday
after U.S. health authorities announced an investigation
into an outbreak of E. coli bacteria linked to one of the popular fast-food chain’s sandwiches.
The company’s stock fell by 6.7% to $293.60 after closing at $314.69 at the end of Tuesday’s session.
This decline followed the U.S. Centers for Disease Control and Prevention (CDC) statement,
confirming that investigations into the bacterial outbreak are ongoing.
So far, one death has been reported,
with 10 people hospitalized across 10 different U.S. states
and 49 cases of infection reported nationwide, according to Reuters.
Donald Trump Returns to the World’s Billionaire List with Rising ‘Trump Media’ Shares and Strengthened Election Chances
Former U.S. President Donald Trump has re-entered
Bloomberg’s Billionaires Index for the first time since August 6,
thanks to a significant surge in the stock price of his media and technology company
and increasing odds of his winning the upcoming U.S. presidential election.
Trump’s wealth reached $6.5 billion on Tuesday,
ranking him 481st among the world’s wealthiest 500 individuals.
This wealth boost has been driven by a tripling in the market value of *Trump Media*,
the parent company of the *Truth Social* platform since late September.
Market data from Polymarket shows traders expect Trump to win the election with a 64% probability,
compared to 36% for his Democratic opponent, Kamala Harris.
Meanwhile, *Trump Media & Technology* shares rose by 5.7% in pre-market trading to $36.34,
following a 9% rise in the previous session.
