Stock market today: Stocks edge higher after huge rally as traders await Fed decision
Donald Trump and Federal Reserve Chair Jerome Powell Indexes edged up on Thursday, heading for another day of gains after Donald Trump’s election victory fueled a massive rally across the stock market on Wednesday. The Dow Jones Industrial Average was just slightly higher after surging over 1,500 points, up 3.6% in its biggest single-day percentage…
Trump’s win created a record $64 billion of net worth for the world’s 10 richest people
Elon Musk has been a vocal supporter of Donald Trump and spoken at the former president’s rallies. Donald Trump’s presidential victory sparked a record single-day jump in the wealth of the world’s 10 richest people, Bloomberg data shows. The final net-worth-addition tally came out to $64 billion as markets celebrated another Trump administration. Investors are…
Warner Bros. Discovery CEO David Zaslav thinks Trump will let him consolidate
WBD CEO David Zaslav (right) wanted a new president that would make it easier for companies to buy each other. He got his wish. David Zaslav wanted a new president who would make it easier for his company to buy other companies — or sell itself. Now he has his wish. The second version of…
Bank of America’s clients are selling stocks 80% more than normal to use this strategy that allows you to avoid capital gains taxes on big returns
Until 2018, when the value-added tax was introduced to Dubai, there were no taxes. It’s officially stock-selling season, according to Bank of America. Institutional investors usually increase their selling activity towards the end of the year, and this year was no exception. Bank of America’s clients alone sold $1.3 billion in US equities last week.…
Chief strategists project their outlooks on stocks, bonds, currencies, and gold amid a Trump victory
It’s fair to say that much of Wall Street didn’t get enough sleep on election night after being caught off guard by the speed at which results began coming in. Dominic Pappalardo, the chief multi-asset strategist at Morningstar Wealth, was home watching prediction markets and how percentages were skewing state by state. He was also…
French regulators are looking into Polymarket after a massive surge in US election betting
Donald Trump leaves the stage after an election night party in West Palm Beach, Florida. Election betting surged during the 2024 presidential campaign, and the rising popularity of gambling on politics has drawn the attention of at least one government watchdog. Polymarket, the crypto-based betting site which saw four accounts tied to one trader wager…
Trump is about to make the Fed’s job a lot harder
The chair of the Federal Reserve, Jerome Powell, and President-elect Donald Trump. The Federal Reserve could soon encounter a roadblock in its plans to keep the US economy going while also controlling inflation. Donald Trump’s election win brings his vision of hefty trade tariffs and a sweeping immigration crackdown closer to becoming reality. Economists widely…
Bitcoin’s latest rally will push the token 60% higher by April of next year, strategist says
Bitcoin looks poised to soar 60% by April 2025 as a technical breakout takes hold in the cryptocurrency, according to Ned Davis Research. On Thursday, the Wall Street research firm upgraded bitcoin “as a long-only trade” with a $121,000 price target. “We like the set-up for Bitcoin. The crypto is breaking out on optimism of…
Anthropic is gaining on OpenAI in this key area of the AI market
Dario Amodei, co-founder and CEO of Anthropic Anthropic has been gaining on arch rival OpenAI in recent months, according to data from a popular developer tool. The AI SDK is a toolkit that helps developers build AI-powered applications. It provides code libraries that developers install to get their apps to communicate with different AI models.…
