Tesla shares surged 15% to $288.53, driven by investor optimism about potential benefits from Donald Trump’s possible presidency and Tesla’s future plans, including robotaxi ambitions and a lower-cost model. The stock has more than doubled since April, forming an ascending triangle pattern, indicating a continued uptrend. Key levels to watch include $300, where selling pressure might occur, and a potential upside target of $350. Support areas to monitor are $265 and $230, which could attract buying interest during declines. The RSI suggests bullish momentum but warns of overbought conditions.
Read more at: https://www.investopedia.com/watch-these-tesla-price-levels-as-stock-surges-to-15-month-high-8741202
Crypto assets surged after Donald Trump’s U.S. presidential win, with Bitcoin reaching a record $76,330, up 9.5%. Ethereum rose nearly 11% to just under $2,700. The CoinDesk 20 Index gained 10.7%, driven by Uniswap, Solana, and Render. The rally led to $592 million in liquidations, mostly from short positions, marking the largest short squeeze in six months. The Nasdaq and S&P 500 also rose 3% and 2.5%, respectively, amid a risk-on trading day.
Read more at: https://www.coindesk.com/markets/2024/11/06/bitcoin-blasts-past-76k-for-first-time-as-violent-crypto-rally-liquidates-nearly-400m-shorts/
Former President Donald Trump declared victory in the 2024 election, winning key states like Pennsylvania. His support for the fossil-fuel industry could benefit companies like Exxon Mobil, despite criticism from figures like Mark Cuban. Higher hydrocarbon production might pressure prices, but Trump’s win contrasts with a potential Kamala Harris administration favoring green energy. Solar companies saw valuation boosts after a debate, but momentum now favors Trump. Investors might consider Direxion ETFs to capitalize on the fossil fuel resurgence.
Read more at: https://www.benzinga.com/trading-ideas/long-ideas/24/11/41768151/stunning-trump-victory-could-provide-yuge-showcase-for-direxions-gush-and-drip-etfs
JPMorgan Chase CEO Jamie Dimon will remain at the bank and has no plans to join the Trump administration, despite speculation about a government role. Dimon, 68, has led JPMorgan for nearly 19 years and was considered for Treasury secretary by both parties. The bank’s board has identified potential successors. Dimon congratulated Trump and other elected officials, emphasizing unity post-election. He has not endorsed any presidential candidate but frequently comments on policies. JPMorgan’s stock rose over 10% amid investor confidence in Dimon’s continued leadership.
Read more at: https://nypost.com/2024/11/06/business/jamie-dimon-to-stay-at-jpmorgan-wont-join/
Bitcoin surpassed $75,000 as Donald Trump neared a White House return, with key victories in swing states. BTC traded over $74,000, slightly below its all-time high. The broader crypto market rose over 9% in 24 hours. DOGE and SOL led gains, with DOGE up 25% to nearly $0.22, boosted by Elon Musk’s support. Musk proposed a Department of Government Efficiency (D.O.G.E) as part of the Republican campaign. SOL gained nearly 20%, reaching $188.
Read more at: https://www.coindesk.com/markets/2024/11/06/first-mover-americas-btc-hit-all-time-high-as-trump-closed-in-on-victory/
President-elect Donald Trump’s proposed tariffs, ranging from 10% to 100% on imports, especially from China, could disrupt recent relief from inflation, analysts warn. Retailers and trade groups, like the National Retail Federation, caution that these tariffs would act as a tax on American families, driving inflation, increasing prices, and potentially causing job losses. A study by the NRF predicts double-digit price spikes in categories like apparel, footwear, and toys. Companies like E.l.f. Beauty may be forced to raise prices due to reliance on Chinese manufacturing.
Read more at: https://www.cnbc.com/2024/11/06/trump-proposed-tariffs-consumer-prices.html
US stocks surged Wednesday after former President Donald Trump’s decisive election victory. The Dow jumped 1,507 points (3.57%) to a record high, marking its first 1,000-point gain since November 2022. The S&P 500 rose 2.5%, and the Nasdaq climbed 2.95%. The US dollar had its best day in two years, and Treasury yields increased. Markets were relieved by the quick election resolution, reducing uncertainty and allowing businesses to plan. Michael Block noted the market’s relief, emphasizing the clarity and reduced risk of unrest.
Read more at: https://www.cnn.com/2024/11/06/investing/dow-stock-market-trump/index.html
Super Micro Computer Inc. shares dropped over 24% after releasing a disappointing preliminary first-quarter report and missing its annual report deadline, risking Nasdaq delisting. The stock hit a 52-week low, trading near $21, down from a March peak of $123, losing over $55 billion in value. The company reported unaudited net sales of $5.9-$6 billion, below the $6.45 billion expected, and projected December quarter revenue of $5.5-$6.1 billion, missing the $6.86 billion analyst estimate. Ernst & Young resigned as auditor, citing governance disagreements.
Read more at: https://qz.com/super-micro-stock-drops-weaker-financial-reports-1851690896
Stock futures rose Tuesday evening as investors anticipated the U.S. presidential race’s impact on markets and the economy. Dow futures increased by 231 points (0.6%), S&P 500 futures by 0.4%, Nasdaq 100 by 0.2%, and Russell 2000 by over 1%. Americans voted in a tight race between Donald Trump and Kamala Harris. Trump’s tax cuts could benefit corporations, but his tariffs might lead to trade uncertainty and inflation.
Read more at: https://www.cnbc.com/2024/11/05/stock-market-today-live-updates.html
President-elect Trump’s victory over Vice President Harris introduces uncertainty for the U.S. electric vehicle (EV) industry. Trump plans to roll back emissions standards and EV incentives, potentially defunding consumer credits up to $7,500. Despite challenges, the Inflation Reduction Act (IRA) is expected to remain, with investments in Republican states. Analysts suggest legacy automakers like GM and Ford could benefit under Trump, though GM’s all-electric goals rely on federal tax credits. David Rubenstein believes the IRA will undergo adjustments but won’t be eliminated.
Read more at: https://www.cnbc.com/2024/11/06/trump-reelection-what-it-means-for-evs.html