November 12, 20240 Comments

Futures pull back as focus turns from election to economic data

(Reuters) – U.S. stock index futures dipped on Tuesday after Wall Street’s rally over the past few days following election results as traders awaited key inflation data later in the week for more signals on the country’s economic and monetary policy outlook. The three major indexes notched record high closes in the previous session as investors broadly expect President-elect Donald Trump’s proposed tax cuts and expectations of easier regulatory policies

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November 12, 20240 Comments

Fact check: Are weekly wages in the US ‘lower than 50 years ago’? | US Election 2024 News

In a November 10 appearance on CNN’s State of the Union, United States Senator for Vermont Bernie Sanders dismissed a question from host Dana Bash about whether Democrats’ poor showing in the 2024 election came down to messaging over policy. “It’s not messaging, Dana,” Sanders said. He said the economy has been weak for average Americans for decades. “It has to be put into an overall context where, in the

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November 12, 20240 Comments

Seven wild moments from its turbulent history

Reuters Donald Trump’s victory in the US presidential election has helped push the price of Bitcoin to a series of record highs. Backers of the digital currency are celebrating, and wondering how much more valuable it could become – with some suggesting it could reach $100,000 per coin. Its price is rocketing because the president-elect has vowed to make the US “the crypto capital of the planet” – a remarkable

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November 12, 20240 Comments

China’s biggest shopping event of the year exceeds low expectations

Staff sort express deliveries at China Post’s Zaozhuang branch in east China’s Shandong province on November 10, 2024 Nurphoto | Nurphoto | Getty Images BEIJING — China’s Singles’ Day shopping festival saw consumers spend more than expected in what has otherwise been a tepid retail environment, consulting executives told CNBC. The country’s version of Black Friday kicked off this year on Oct. 14, more than a week earlier than in

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November 12, 20240 Comments

Bitcoin (BTC) at $88K Catapults MicroStrategy (MSTR) Price to 24-Year Record High; Aptos, Near, Render Surge

MicroStrategy (MSTR), the Nasdaq-listed software company with the largest corporate bitcoin treasury, melted up 25%, closing the day at a new all-time high price of $340, overcoming its 24-year old record from the dotcom bubble era. The company announced on Monday that it acquired 27,200 BTC, bringing its total holdings to 279,420 bitcoin, worth about $24.5 billion at current price. Source link

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November 12, 20240 Comments

US dollar has room to rally further

Investing.com – The US dollar has benefited from the country’s recent election results, and Morgan Stanley (NYSE:) expects more strengthening ahead as the new Trump administration starts to enact its proposed policies. At 05:40 ET (10:40 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher to 105.802, its highest level since the beginning of July. “The final results of the US election

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November 12, 20240 Comments

Home Depot raises annual same-store sales forecast By Reuters

(Reuters) -Home Depot raised its annual same-store sales forecast on Tuesday, betting on resilient demand from professional contractors to offset weak spending on bigger projects such as kitchen renovations. The top U.S. home improvement retailer’s shares, up 18% this year, rose 2% in premarket trading as it posted a smaller-than-expected drop in third-quarter comparable sales. “As weather normalized, we saw better engagement across seasonal goods and certain outdoor projects as

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