Hala,
💰 Who knew running for president would come with such a hefty “admission fee”? Harris and Trump just blew through $3.5 billion to get to the White House!(1) Guess the slogan for 2024 should be: “Vote for me, I’m already broke!” 🏛️💸
amana’s Take
- Donald Trump’s victory sends markets rocketing to record highs! Dow, S&P 500, and Nasdaq didn’t just pop the champagne — they shattered ceilings. The Dow skyrocketed 3.5%, adding a hefty 1,500 points for its best day since 2022, while the S&P 500 and Nasdaq followed with 2.5% and 2.9% jumps. Wall Street’s clearly loving this second act, with Trump’s win in Wisconsin sealing his return and sparking a bullish rally that has everyone talking “Trump trade” déjà vu.
- With Trump’s pro-finance policies back in play, Treasury yields soared, and the dollar flexed hard. Regional banks went nuts — the S&P Regional Banking ETF jumped over 11%, while the Russell 2000 index shot up more than 5%, proving small caps want in on the action too.
- Eyes firmly on the Fed now! As investors catch their breath, all eyes turn to the Federal Reserve’s next move, with whispers of a rate cut sending markets into hopeful suspense. And just to add more fuel to the fire, Tesla rocketed 14% as Musk got his usual round of fanfare. Stay tuned — it’s shaping up to be a wild week on Wall Street.
Stock Market Update
🚀📈 U.S. stocks went into a frenzy on Wednesday as President Donald Trump reclaimed the White House!(2)The Dow climbed 3.57% to a record 43,729.93, its biggest leap since November 2022. The Nasdaq 100 hit another, rising 2.74% to 20,781.33(3), while the S&P 500 rose 2.53% to 5,929.04. Looks like the bulls are back in action! 🐂⬆️
🗳️↗️ Gulf markets joined the rally party as President Trump’s win sparked hopes for business-friendly vibes. Abu Dhabi added 0.4% to 9,425, while Dubai gained 0.5% to 4,616.(4) ⏫🔼
🚀💰 Bitcoin Blasts Off Past $76K as Trump Win Sparks Crypto Hopes!
Bitcoin has fired up its engines, soaring past $76,000 in the wake of Trump’s presidential victory.(5) Investors are calling it a “crypto-fueled victory lap,” as expectations of friendlier regulations and tax breaks pump up the rally. Fuelled by the Trump campaign’s pro-crypto promises, this latest price surge suggests a possible rocket ride into uncharted territory. 🚀📈
💸🚀 Highlights of Bitcoin’s Record-Breaking Boost:
- Crypto Climb:Bitcoin rallied 9% to a high of $76,052, smashing previous records.
- Altcoin Action:Ether surged 11%, Solana 13%, and meme coin Dogecoin rocketed up 15%.
- Coinbase Celebration: Shares of Coinbase spiked a record 31%, marking its biggest day since listing. 💥
- The Trump Effect: Promised deregulation and crypto incentives ignited investor confidence.
🌐🗽 Trump’s Pro-Crypto Push Sets the Stage
With Bitcoin now orbiting record heights, all eyes are on Trump’s regulatory plans. The crypto industry anticipates a new dawn, with Trump’s campaign vows for deregulation and a national Bitcoin stockpile fueling optimism. As investors count on looser regulations and tax cuts, Bitcoin’s role as a hedge against inflation gets a turbo boost. Hold tight; the crypto world’s next frontier might be closer than we think. 🌌🔜
Closer to Home
- 🛒 Lulu’s IPO sold like hotcakes, raising a whopping $1.72B and drawing AED 135B ($37B) in demand — 25 times oversubscribed! With over 82,000 investors onboard, the UAE’s biggest IPO of 2024!(6) #IPOSurge 🤑
- 🏗️ Abu Dhabi contractor National Marine Dredging Company (NMDC) is diving into a Gulf acquisition by year-end as part of a global growth sprint, aiming to scoop up marine, dredging, and logistics deals. Expansion mode: ON!(7) 💰
- 🏢 Abu Dhabi-based Agthia’s profits surged 24% YoY to AED 254.9M during the first nine months of 2024, powered by cost control and efficiency. With margins up to 7.1%, they’ve sailed through FX storms and new UAE taxes!(8) 💸
What Else Is Trending
- 🚘 Tesla shares zoomed up nearly 15% on Wednesday as President-elect Donald Trump’s win sparked hopes that CEO Elon Musk, a major backer, would see big benefits ahead! Investors hit the gas, pushing Tesla to a new 52-week high.(9) 🚀
- 📉 Oil prices took a slight dip, caught between a strong U.S. dollar and President Trump’s potential squeeze on global supply. Brent slipped 0.81% to $74.92, while WTI eased 0.42% to $71.69(10) 🛢️
- ✨ Spot gold lost its glow, too, sliding over 3% to $2,660.1 as investors flocked to the dollar post President Trump’s win.(11) 🌟
💬Quote of the Day
“While President-elect Trump has claimed to make the U.S. the ‘crypto capital’ of the world, the details of his plans remain to be seen.” — Anthony Yeung, global head of strategic development at CoinCover
Start trading now: https://amana.app/campaigns/rebate
Sources: (1) Financial Times, (2) (5) (9) (10) (11) CNBC, (3) Bloomberg, (4) (6) (8) Zawya, (7) The National
